Property History
Property Type
Property Type
Marketing Description
7029 - 7143 E. State Street, also known as State and Perryville Shopping Center, is located in Rockford, Winnebago County, Illinois. The building was constructed in 1990, renovated in 2022, and is located at the southeast corner of State Street & Perryville Road featuring visibility and exposure to approximately 41,900 VPD. The center is 100% leased by three (3) Tenants: Ashley Home Furniture (50,000 SF), Planet Fitness (25,508 SF), and Urban Air Trampoline Park (35,217 SF). At the 100% occupancy level, the center produces a NOI of approximately $1,014,825. The property includes a 539-surface level parking lot (4.58/1,000 SF), pylon signage along State Street, and is located within Rockford's primary commercial corridor. Neighboring retailers nearby include Wal-Mart Supercenter, Sam’s Club, Home Depot, Lowes Home Improvement, Target, Kohl’s, Dick’s, PetSmart, Burlington Coat Factory and Bob's Discount Furniture, among many others.
Investment Highlights
- All Tenants are on NNN leases and have term through at least 2031
- Recent CapEx includes roof replacement (2016), parking lot sealed and striped (2018), transformer replacement (2018) and the back flow valve replaced (2018).
- There's approximately 3.5M SF of retail space within one-mile of the property including Wal-Mart Supercenter, Sam’s Club, Home Depot, Lowes Home Improvement, Target, and Kohl’s, Dick’s, PetSmart, Burlington Coat Factory, Red Robin, Portillo's, Panera, and McDonald's, among several others
- Population of approximately 259,952 residents with an average Household Income of $123,259 within 5-miles of the Property
- Rockford is the fifth most populated city in Illinois with a population of approximately 149,000 residents
- The Property features a 539-surface level parking lot (4.58/1,000 SF)
- New Hard Rock Casino recently opened approximately two (2) miles to the east
Loan History
Financial History
Tax History
Contact Information
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Ownership Information
Zoning
C2 CommercialRetail CommercialLimited Commercial
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View all 106 uses
View all 106 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
Property Details
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