414 Court St Rockford, IL 61103
- Commercial real estate
- 98,107 SF
- 5.59 lot acres
Current Use by Public Records
- Meld Manor / Apartment Building
Property Details for 414 Court St
- Year built
- 1900
- Lot size
- 5.59 lot acres
- Property size
- 98,107 SF
- Property type
- Commercial real estate
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rockford
- County
- Winnebago
- State
- Illinois
- Longitude
- -89.0948968
- Latitude
- 42.2757853
