Mixed-Use Downtown
522 S State Street Belvidere, IL 61008
522 S State Street, Belvidere, IL, 61008
$450,000
For Sale
$450,000
MULTI_FAMILY - BELVIDERE, IL
Property Size4,180 SF
Price / SF$107.66
Days on Market47
Property Features for 522 S State Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Bedroom 1, Bedroom 3, Bedroom 4, Basement, Bathroom 2, Bathroom 3, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 5, Bathroom 5
- Parking
- 20
- Appliances
- Microwave, Refrigerator, Stove/Cooktop, Oven
- Standard status
- Active
- APN
- 0525360007
- Size
- 4,180 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- 25-44-3 SLY 18' & WLY 35' OF SLY 38' OF LOT 19 & ALL OF LOTS 13 & 14 ASSRS SUR OF BLK 7 IN AARON WHITNEY'S ADD (EX ELY 20 FT X 38 FT OF LOTS 13 & 14). 522 S STATE ST
- Tax Annual Amount
- 5732
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1889
- Floors in Building
- 2
- Number of units
- 5
- Roof type
- Metal
Listing agency
Keller Williams Realty Signature
(815) 315-1111
Listed by
Fidel Batres · License #475133262
(815) 290-0333
Added: Jun 5 Updated: Jul 9 at 2:45AM Checked: Jul 21 at 8:06AM
MLS# 202603280
Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use downtown building includes a main-level bar with a full kitchen, 5 gaming machines, and 3 pool tables. The second level features five fully occupied residential lofts, each equipped with a stove, refrigerator, and microwave. The property is described as well maintained and offers central air conditioning throughout.
The building is located at 522 S State Street in Belvidere, Illinois, in downtown. The public remarks note it is “just minutes” from a planned Metra station expected in 2027.
The offering is presented as a fully occupied, income-producing asset with long-term tenants in the residential lofts.
The building is located at 522 S State Street in Belvidere, Illinois, in downtown. The public remarks note it is “just minutes” from a planned Metra station expected in 2027.
The offering is presented as a fully occupied, income-producing asset with long-term tenants in the residential lofts.
Key Highlights
- Mixed‑use building with an established bar on the main level, plus five residential lofts upstairs
- Bar includes a full kitchen, 5 gaming machines, and 3 pool tables
- All five residential lofts are occupied by long‑term tenants and include a stove, refrigerator, and microwave
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.1k | $10.80 |
| − Vacancy | −$1.8k | −$0.43 |
| EGI | $43.3k | $10.37 |
| − OpEx | −$19.5k | −$4.67 |
| NOI | $23.8k | $5.70 |
4,180 SF · lease $10.80/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Specialty Retail
$834.1K
$729.8K – $973.1K
NOI $58,386 @ 7.0% cap · market cap 12.97%
Second Best
Apartment 5plus
$340.5K
$298.0K – $397.3K
NOI $23,836 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$1.11M
$972.9K – $1.30M
NOI $77,828 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Crazy Camaron
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Mixed-use building with a main-level bar and five occupied residential lofts, with central air throughout.
Where is this apartment building located?
The property is located at 522 S State Street Belvidere, IL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Mixed‑use building with an established bar on the main level, plus five residential lofts upstairs; Bar includes a full kitchen, 5 gaming machines, and 3 pool tables; All five residential lofts are occupied by long‑term tenants and include a stove, refrigerator, and microwave
