Five-Unit Brick Apartment
For Sale
Contact for pricing
702 S Locust Ave, Freeport, IL 61032
All-brick construction includes a vacant ground-level area that can accommodate an owner-operated business.
Property SizeContact for details
Days on Market141
Property Features for 702 S Locust Ave
General Information
Standard status
Active
Property subtype
Mixed Use
Additional Details
Multifamily Units
5
Building Details
Buildings
1
Construction
brick
Listing Agency:
A-1 Agency
(815) 238-2015
Listed By:
Brian Borchardt · License #IL 471004534
Source:
Crexi
Added: Apr 12
Changed: Aug 30
Last Checked: Aug 30 at 8:44AM
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 A-1 Agency
Investment Insights
Based on property information with market context.
This five-unit apartment building features all-brick construction and is currently configured for residential occupancy. A ground-level area is vacant, providing space for an owner’s business while the property continues to include apartment units. The downstairs space was used commercially for many years before the building’s current apartment configuration.
Located at 702 S Locust Ave in Freeport, Illinois, the property has been professionally managed, and the existing manager is willing to remain. The property information also cites a 15% pro forma return and a history of rental performance. The combination of residential units, a vacant lower-level area, and ongoing management creates a flexible operating profile for an investor or owner-user.
Located at 702 S Locust Ave in Freeport, Illinois, the property has been professionally managed, and the existing manager is willing to remain. The property information also cites a 15% pro forma return and a history of rental performance. The combination of residential units, a vacant lower-level area, and ongoing management creates a flexible operating profile for an investor or owner-user.
Key Highlights
- Five apartment units in an all‑brick building
- Vacant ground‑level area suitable for an owner‑operated business
- Formerly used for commercial purposes on the lower level
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
925
Businesses Nearby
Explore this area
Business Placement
Demographics for 61032, IL
29,110
Population
14,685
Households
2
Avg Household Size
46
Median Age
20%
College-Educated
91%
High-School Grad
148.7 sq mi
ZIP Area
196
Density / Sq Mi
$54,179
Median Household Income
$34,893
Median Earnings
$769
Median Rent
$106,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - All-brick construction includes a vacant ground-level area that can accommodate an owner-operated business.
Where is this apartment building located?
The property is located at 702 S Locust Ave Freeport, IL.
What are key features of this property?
This property features: Five apartment units in an all‑brick building; Vacant ground‑level area suitable for an owner‑operated business; Formerly used for commercial purposes on the lower level
