Lindsay Morhardt
- Buy
- Sell
https://www.ruhlmortgage.com/LawrenceDavis.html
Description
Rare opportunity to acquire a historic mixed-use investment property in the heart of Downtown Rockford. Originally constructed in 1901, this three-story, elevator-served building offers approximately 12,000 SF above grade plus a 4,000 SF basement and is currently occupied by long-term local tenants. The first and second floors are occupied by Rockford Art Deli, a well-known apparel and screen-printing business, while the third floor is occupied by a residential tenant. Both tenants are currently operating on month-to-month agreements, providing immediate cash flow along with future leasing flexibility and rental upside potential. Recent capital improvements include a newly sealed roof, updated gas and electrical infrastructure, 3-phase electrical service, and separate gas metering for each floor. The building is zoned C-4 Downtown Commercial, allowing for a variety of retail, office, creative, and mixed-use opportunities. Located along East State Street in Rockford's revitalizing downtown district, the property benefits from strong visibility, walkability, and proximity to restaurants, retail, entertainment venues, and major employers.
Property Highlights
Property Type: Commercial - Business
Building Description: 3.0 stories
Year Built: 1901
General Information
County: Winnebago
Listed By:
@properties Commercial
312-337-0200
MRED MLS
MLS ID: 12666065
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402 E State Street , Rockford, IL 61104.
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563-441-1862
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $720,000 | $720,000 | $720,000 |
| Down Payment | $144,000 | $25,200 | $180,000 |
| Monthly Mortgage Amount | $3,500 | $4,296 | $4,448 |
| Taxes | $1002 | $1002 | $1002 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $317 | $0 |
| Monthly Estimated Total | $4,712 | $5,825 | $5,660 |
Lindsay Morhardt
REALTOR®
Cell: (563) 241-8092
Licensed in IA & IL
Clinton Office
301 North Second Street
Clinton, IA 52732
(563) 242-4602
Clinton, IA 52732
(563) 242-4602
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