Entity Owned Property summary
This exceptional redevelopment opportunity presents a unique chance to acquire a substantial mixed-use property situated in the heart of Rockford, Illinois. The property, encompassing 46,227 square feet, consists of a three-story building constructed in 1903 and situated on a 28,054 square foot lot. Currently vacant, this Class D property offers significant potential for adaptive reuse. Previously utilized as an executive office space and a church/performing arts center, the building's versatile layout and substantial size allow for a wide range of redevelopment possibilities. The property is zoned C4, providing flexibility for various commercial ventures. The asking price is $300,000, translating to $6.49 per square foot. Key features include a large parking lot, a prominent LED message center, and a highly desirable location near shopping, entertainment, and dining options. The property's rich history and prime location in Rockford, combined with its substantial size and flexible zoning, make it an attractive investment for developers seeking a high-impact project. The APN numbers are 11-23-177-013 and 11-23-177-015. This is a truly one-of-a-kind opportunity to revitalize a historic landmark in a thriving Illinois city.
Property profile
VerifiedCap rate & NOI
Current use
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Theater & Performing Art Venue
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Vocational School Training Center
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Article 22 | C-4, URBAN MIXED-USE DISTRICT 22-001 PURPOSE The purposes of the C-4, Urban Mixed-Use district are to: 22-001-A. maintain and promote a compact, pedestrian-oriented, mixed-use district with a diverse mix of…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
C4 · Rockford, ILArticle 22 | C-4, URBAN MIXED-USE DISTRICT 22-001 PURPOSE The purposes of the C-4, Urban Mixed-Use district are to: 22-001-A. maintain and promote a compact, pedestrian-oriented, mixed-use district with a diverse mix of…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
Article 22 | C-4, URBAN MIXED-USE DISTRICT 22-001 PURPOSE The purposes of the C-4, Urban Mixed-Use district are to: 22-001-A. maintain and promote a compact, pedestrian-oriented, mixed-use district with a diverse mix of…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C4 in Rockford, IL.
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