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    Mixed-Use Building with Bar and Lofts Title is generated by Realmo AI

    522 S State Street, Belvidere, IL 61008

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    For Sale
    $450,000

    MULTI_FAMILY - BELVIDERE, IL

    Property size:
    4,180 SF
    Price / SF:
    $107/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 522 S State Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    5
    Rooms
    Bathroom 2, Bathroom 3, Bedroom 5, Bathroom 1, Bedroom 3, Bathroom 4, Basement, Bedroom 4, Bathroom 5, Bedroom 1, Bedroom 2
    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

    We can help!

    Listing Contact
    Fidel Batres

    Listing agent Fidel Batres License #475133262

    Listing office Keller Williams Realty Signature 4201 Galleria Dr., Loves Park, IL

    Listing date Jun 5, 2026

    MLS# 202603280 Listing URL

    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.

    HighLights

    • 1889‑built downtown Belvidere mixed‑use property with residential lofts and an established bar on the main level
    • Main level bar includes full kitchen plus 5 gaming machines and 3 pool tables
    • Upstairs features five residential lofts, all fully occupied by long‑term tenants
    • Each loft is equipped with a stove, refrigerator, and microwave
    • Central air conditioning throughout the building
    • Natural gas forced‑air heating and a metal roof

    Overview

    This mixed-use building includes an established bar on the main level along with a full kitchen, five gaming machines, and three pool tables. The upper level offers five fully occupied residential lofts, each with a stove, refrigerator, and microwave. The property is described as well maintained and features central air conditioning throughout.

    The building is located in downtown Belvidere at 522 S State Street. The listing notes the planned Metra station expected in 2027 is just minutes away.

    For an owner-operator or investor looking for a live/work-style setup, the combination of an operating bar and long-term, occupied lofts provides an income-generating structure with both commercial and residential components under one roof. With central air already in place and unit amenities built into each loft, the property presents a practical, turnkey option for buyers seeking to acquire a fully occupied mixed-use asset.
    Property Profile Location Intelligence

    Current Use by Public Records

    Crazy Camaron Bar & Pub

    Suggested Use

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

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

    Similar Places Nearby

    • Olivo Gaming and Bar — 112 W Pleasant St, Belvidere, IL 61008
    • Jack Rose LLC — 124 Buchanan St, Belvidere, IL 61008
    • Niko's Cabin — 506 S State St, Belvidere, IL 61008
    • Coach’s Corner Bar & Grill — 622 S State St, Belvidere, IL 61008
    • Crazy Camaron — 522 S State St, Belvidere, IL 61008

    Location Insight

    • Map
    • Local Demand
    City
    Belvidere
    County
    Boone
    State
    Illinois
    Longitude
    -88.83893
    Latitude
    42.255436

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    FAQs

    What type of property is this?
    Bar & Pub - Turnkey downtown mixed-use property with an operating bar and fully occupied residential lofts.
    Where is this bar & pub 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: 1889‑built downtown Belvidere mixed‑use property with residential lofts and an established bar on the main level; Main level bar includes full kitchen plus 5 gaming machines and 3 pool tables; Upstairs features five residential lofts, all fully occupied by long‑term tenants
    (815) 290-0333
    We can help!
    Listing Contact
    Fidel Batres
    Real Estate License ID: 475133262
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    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.

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