502 Franklin St Oregon, IL 61061
- Office Properties & Spaces
- 0.07 lot acres
Current Use by Public Records
- Pearl & Sons Furniture Design / Furniture Maker / Cabinet Maker
- Little Blue Cottage / Home Goods Store
- Brass Insurance / Insurance Agency
Property Details for 502 Franklin St
- Lot size
- 0.07 lot acres
- Property type
- Office Properties & Spaces
- APN
- 16-03-153-014
- APU
- 1603153014
Description
This exceptional 1,800 square foot mixed-use building presents a remarkable opportunity in the heart of Oregon, IL. Situated on a coveted downtown lot, this single-story property boasts a flexible layout ideal for a variety of uses. The interior features three separate entrances, allowing for distinct spaces. Two stunning rooms showcase original hardwood floors (measuring 24.1' x 21.2' and 16.6' x 12.6'), while two additional spacious rooms (21.2' x 13.3' and 17.1' x 13.3') and two smaller rooms (each 12' x 8.3') offer versatility. A partially finished attic provides significant expansion potential. The property includes two bathrooms, one of which is ADA-compliant. Architectural details include custom-built ceiling beams and barn doors on storage closets, complemented by a handcrafted front door. Recent upgrades enhance its appeal: a new roof (2023), updated electrical (2021), five mini-split electric heat and air units, and three newer windows. Its location within the TIF District offers additional advantages. The property's zoning allows for potential re-zoning to residential, opening up possibilities for a unique live/work space or a charming downtown home. This is a rare chance to acquire a property with immense potential, blending historic charm with modern conveniences.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oregon
- County
- Ogle
- State
- Illinois
- Longitude
- -89.3343
- Latitude
- 42.0161
- CBSA code
- 40300
- CBSA name
- ROCHELLE, IL MICROPOLITAN STATISTICAL AREA
