907 State StRockford, IL 61104

Property Details for 907 State St

Year built

1920

Construction

WOOD

Property size (Sq ft)

9,058 SF

Zone code

C4

Property type

Office properties

APN

11-26-202-002

APU

1126202002

Description

This exceptional 9,058 square foot commercial building, located at 907 E State Street in Rockford, IL, presents a unique investment opportunity. The property boasts a desirable three-story layout, including a full basement, offering significant versatility. A key feature is the attached covered parking garage at 105 S 5th Street, perfect for staff or clients. The building's interior features attractive hardwood floors and high ceilings, adding to its character and appeal. Currently configured with office space on the first floor, a second-floor meeting area complete with a serving space and bar, and a completely open third floor, the property offers a multitude of potential uses. Imagine transforming this space into a standalone office complex, a vibrant retail destination, or even incorporating residential lofts – the possibilities are vast. The building's size and layout provide ample room for customization and expansion, allowing for the creation of a truly unique and functional space. This is a rare chance to acquire a well-maintained property with significant potential in a prime Rockford location. The property is offered at $395,000. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,635,529

  6.5%

  $1,509,720

  7%

  $1,401,882

• Comparable approach

  Method

  Valuation

  Relative Method

  $919,597

  Geo Method

  $1,179,804

• Alternative Use

  Use

  Valuation

  Residential

  $1,872,052

  Hospitality

  $1,714,790

  Educational

  $1,426,685

  Medical

  $1,475,751

  Retail

  $2,219,288

Location Insight

City

Rockford

County

Winnebago

State

Illinois

Latitude

42.2666

Longitude

-89.0834

CBSA code

40420

CBSA name

ROCKFORD, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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