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    414 Court St Rockford, IL 61103

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    For Sale
    Contact for pricing

    Historic Rockford apartment complex, 130 units, high occupancy.

    Property size:
    98,107 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional investment opportunity presents a portfolio of 130 apartment units situated in Rockford, Illinois. The property comprises thirty buildings, totaling 98,107 square feet, across a 5.59-acre lot. Constructed in 1900, the buildings are two stories each. The portfolio includes a manager's office and a separate office building featuring eight suites. Currently, 55 units are designated as Housing Assistance Payment (HAP) units, operating under Section 42 of the Internal Revenue Code. This established portfolio benefits from its location in close proximity to other properties, offering significant management efficiencies and immediate scale within a growing market. The portfolio's size and existing HAP units present a compelling investment opportunity for those seeking to acquire and preserve affordable housing assets. The property is located at 414 N Court St, Rockford, IL 61103, within Winnebago County. The portfolio's location within a Qualified Census Tract (QCT) makes it eligible for the Low-Income Housing Tax Credit (LIHTC) program, further enhancing its investment appeal. This is a rare chance to acquire a substantial, established multifamily portfolio in a desirable location.

    Property Features for 414 Court St

    General Information

    Property type
    Multifamily properties
    Square Feet
    98,107 SF
    Lot Size
    243,500 SF

    Building Details

    Year Built
    1900
    Buildings
    30
    Stories
    2
    Units
    130

    HighLights

    • 130‑unit apartment complex with on‑site manager's office.
    • 8‑suite office building.
    • Qualified Conservation Program (QCP) eligible property.
    • Located in Meld Manor, QCT.
    Property Profile Location Intelligence

    Current Use by Public Records

    Meld Manor Apartment Building

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.0948968
    Latitude
    42.2757853

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    FAQs

    What type of property is this?
    Multifamily property - Historic Rockford apartment complex, 130 units, high occupancy.
    Where is this multifamily property located?
    The property is located at 414 Court St Rockford, IL.
    What are key features of this property?
    This property features: 130-unit apartment complex with on-site manager's office.; 8-suite office building.; Qualified Conservation Program (QCP) eligible property.
    Request Owner's contact information
    414 Court St Rockford, IL 61103
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    Realmo Value Estimation

    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.

    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.

    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
    414 Court St Rockford, IL 61103
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