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Property profile & analytics
OFF-MARKET
Office Spaces
323 2nd St, Rockford, IL 61107-4003
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-1555943
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1966
Construction
STEEL FRAME
Total area
10,018 SF
Lot
0.49 ac (21,344 SF)
Zoning code
C4
APN
11-23-453-001
UPID
US28-1555943
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Aspect Packaging Solutions Industrial Manufacturer Factory
-
Meridian Marketing & Advertising Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Rivers Christian Academy LLC · 1 yrs held
Rivers Christian Academy LLC
since 2025
Last sale
$415,000
7 recorded transactions
Zoning & alternative use
C4 · Rockford, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Rockford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockford submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,967
Tax year 2023
Assessed value
$67,102
Assessed 2023
Previous assessed
$59,977
+11.9% YoY
Effective rate
10.38%
On assessed value
Assessed land
$18,872
Assessed improvement
$48,230
Land market value
$56,616
Improvement market value
$144,690
Total market value
$201,306
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1966
Construction
STEEL FRAME
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
10,018 SF
Lot
0.49 ac (21,344 SF)
Zoning code
C4
APN
11-23-453-001
UPID
US28-1555943
Jurisdiction
WINNEBAGO
Zoning & alternative use
C4 · Rockford, IL
Zoning C4 · permitted uses
C4 · Rockford, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rockford. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1966
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.49 ac
Current owner
From public records · entity-resolved
Rivers Christian Academy LLC
Entity
Mailing address
1031 FRANKLIN PL, ROCKFORD, IL 61103-7011
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 19, 2025
$415,000
Rivers Christian Academy LLC
Beam Investments LLC
Warranty Deed
$556,850 · St Charles Bank & Trust Co
Feb 8, 2021
$165,000
Beam Investments LLC
Skyland Corp
Warranty Deed
—
Aug 14, 2014
$249,000
Skyland Corp
Corirossi Robert A Trust
Grant Deed
$300,000 · Blackhawk Bk
—
—
Printing Courier
—
Deed Of Trust
related
$343,332 · Pnc Bank
—
—
Printing Courier
—
Deed Of Trust
related
$130,000 · Us Bank NA
—
—
Corirossi Robert A Trust
—
Deed Of Trust
related
$400,000 · Us Bank NA
—
—
Robert A Corirossi
—
Deed Of Trust
related
$220,000 · Amcore Bank NA Rockford
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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