Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    303 N Van Buren Freeport, IL 61032

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $145,000

    Unique commercial building with versatile options in Freeport, Illinois.

    Type:Commercial/Industrial
    Property size:
    2,200 SF
    Lot size:
    0.16 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    26
    Last Refresh:
    Apr 1 at 10:18 pm

    Property Features for 303 N Van Buren

    General Information

    Standard status
    Active
    Size
    2,200 SF
    Lot size
    0.16 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1977

    We can help!

    Listing Contact
    MARGARET A CHRISTENSEN

    Listing agent MARGARET A CHRISTENSEN License #471002354

    Listing office CHRISTENSEN HOME TOWN, REALTORS

    Listing date Mar 12, 2026

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CHRISTENSEN HOME TOWN, REALTORS

    Overview

    Unique Freeport Commercial "Dome" Building

    Located on the fringe of historical downtown Freeport, this unique commercial building, referred to as the "Dome", is a one-of-a-kind custom-built structure. The building offers versatile options for various businesses. The main floor features office space and a former beauty salon. The upper level has previously housed a beauty shop, a photography studio, and office space. The lower level currently houses a repair business, a tanning salon, and vacant space. A large, unfinished storage area is available for all tenants. Recent improvements include replaced shingles, a furnace approximately 10 years old, and a replaced hot water heater. There are separate electric meters for each unit. The property size is 2200 square feet. The present owner will consider leasing back the property.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Freeport
    County
    Stephenson
    State
    Illinois
    Longitude
    -89.6227
    Latitude
    42.3004

    Nearby Similar for Sale

    • $325,000

      Turnkey Automotive Building on Galena

      Automotive-oriented building on 0.58 acres in high-traffic Freeport location.
      2045 W Galena Avenue, Freeport, IL 61032
      View Details
    • $680,000

      Unique Income-Generating Event Venue

      22-acre property with event center, commercial building, and home.
      395 W Cedarville Road, Freeport, IL 61032
      View Details
    • $1,800,000

      Renovated Freeport Commercial Property For Sale

      Fully renovated commercial property in Freeport, Illinois, with strong cashflow.
      731 Midwest Court, Freeport, IL 61032
      View Details
    • $365,000

      Freeport Commercial Building on Business 20

      Versatile 8,300 sq ft commercial building with office and storage.
      115 East South Street, Freeport, IL 61032
      View Details
    • $200,000

      Two-Unit Freeport Duplex Opportunity

      Two-story duplex with separate utilities, ideal for owner-occupants or investors.
      404-406 E Prospect, FREEPORT, IL 61032
      View Details
    • $499,900

      Freeport Mixed-Use Investment Opportunity

      Multi-level building with residential and commercial income streams.
      222 West Exchange Street, Freeport, IL 61032
      View Details
    • $89,900

      Income-Producing Duplex in Freeport, IL

      Well-maintained duplex with modern updates and tenant appeal.
      108-110 E Iroquois Street, Freeport, IL 61032
      View Details
    • $99,000

      Versatile Commercial Property in Freeport

      Spacious, adaptable commercial property suitable for various business or mixed-use purposes.
      227 E Washington Street, Freeport, IL 61032
      View Details
    • $35,900

      Freeport Duplex Requiring Complete Rehab

      Two-unit duplex with six bedrooms needing full renovation.
      105 W Pleasant Street, Freeport, IL 61032
      View Details
    • $3,000

      Freeport Commercial Space For Rent

      Office, warehouse, and storage space available for rent in Freeport.
      1819 South West - RENTAL ONLY - Avenue, Freeport, IL 61032
      View Details
    • $69,000

      Multifamily Property in Freeport, Illinois

      Three-unit multifamily property with investment or owner-occupant potential.
      609 W Pleasant, FREEPORT, IL 61032
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Unique commercial building with versatile options in Freeport, Illinois.
    Where is this mixed-use property located?
    The property is located at 303 N Van Buren Freeport, IL.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: Unique, custom‑built "Dome" building.; Versatile commercial space with multiple tenant options.; Recent improvements include replaced shingles, newer furnace and hot water heater.
    (815) 233-7355
    We can help!
    Listing Contact
    MARGARET A CHRISTENSEN
    Real Estate License ID: 471002354
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!