211 E Stephenson St Freeport, IL 61032

Located in the downtown area of Freeport, this multi-use property offers an investment opportunity within an Enterprise Zone. The property includes 211 E Stephenson St and 211 1/2 E Stephenson St. The 211 address is a large commercial office space featuring multiple separated spaces, a bathroom with a sink and toilet, a kitchenette, a rear exit door, an unfinished basement, high ceilings, and visibility on Stephenson Street. The tenant is responsible for gas, water, and electric utilities, as designated on the current lease. The 211 1/2 address consists of four 1-bedroom, 1-bath apartments, with two units on the second floor and two on the third floor. Each apartment has its own gas forced air furnace, gas meter, and electric meter. Tenants are responsible for their own gas and electricity utilities, as designated on current leases. The owner is responsible for water, sewer, garbage utilities, and common hallway electric. Updates to the apartments include new water heaters for Units 3 and 4 in 2021 and 2022, and a new furnace for Unit 3 in 2018. The City of Freeport provides a 24-hour parking lot diagonally across Stephenson Street from the building, and street parking is also available. All units are current on rental balances and charges. The commercial office space is suitable for various business operations. Financial information can be shared upon request and with the owner's permission. Showings require 48 hours' notice and approval, with the owner and/or listing agent present unless otherwise stated at the time of scheduling.