7180 Spring Brook RdRockford, IL 61114

  • Office properties
  • 85,500 SF

Property Details for 7180 Spring Brook Rd

Year built
2000
Construction
WOOD
Lot size
9.10 AC
Property size (Sq ft)
85,500 SF
Zone code
C1
Property type
Office properties
APN
12-11-101-024
APU
1211101024

Description

This single-story, 87,000 square foot Class B office building, constructed in 2001, is situated on 9.1 acres in Rockford, Illinois. The property features a total of six suites, with 67,000 square feet currently vacant, offering flexible space options ranging from a minimum of 6,659 square feet to larger configurations. Suitable for coworking, executive offices, traditional office setups, or call centers, this versatile space caters to diverse business needs. The building boasts ample parking with 634 spaces and is conveniently located in Rockford's office corridor, benefiting from high traffic volume (over 20,000 vehicles per day) on Spring Brook and Perryville Roads. Its strategic location provides easy access to major transportation arteries, including I-90, I-39, and Route 20, and is just 14 miles from the Chicago-Rockford International Airport. Rock Valley College is a short one-mile distance away. The property is zoned C1.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $15,438,040
    6.5%
    $14,250,498
    7%
    $13,232,606
  • Comparable approach

    Method
    Valuation
    Relative Method
    $8,680,232
    Geo Method
    $11,136,375
  • Alternative Use

    Use
    Valuation
    Residential
    $17,670,618
    Hospitality
    $16,186,191
    Educational
    $13,466,721
    Medical
    $13,929,862
    Retail
    $20,948,232

Location Insight

City
Rockford
County
Winnebago
State
Illinois
Latitude
42.3093
Longitude
-88.9768
CBSA code
40420
CBSA name
ROCKFORD, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
-
$373,697
$1,452,019
$1,825,716
-
$1,121,091
$4,356,057
$5,477,148

FAQs

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