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32954114
32954126

115 7th Street, Rockford, IL 61104 For Sale

QB
Qazzafi Butt
Listed by Qazzafi Butt
$4,590,000
56 days on market
Updated 56 days ago

115 7th Street

Details
Property Type Multifamily, Office (+1)
Sub Type Executive Office, Medical Office
Square Footage 17,772
Units 20
NOI $432,000
Tenancy Multi
Lease Type NNN
Class C
Year Built 1927
Year Renovated 2018
Buildings 1
Acreage 0.260
Zoning C-4 - "Pedestrian Street" Mixed Use District
Tenant Credit Corporate Guarantee
Ground Lease No
Sale Condition For sale by owner

About This Property for Sale

Marketing description

The subject property is an 17,772 square foot, two story, masonry, multi-tenant office building located in Rockford’s Midtown District. The property, which was built in 1927, and renovated in 2014, is situated between two corners on Charles and 7th Streets with frontage to both streets and rare off street parking. Zoning for the property is C 4, “Pedestrian Street” Urban Mixed Use. 115 7th Street is also located within a TIF District. The Midtown District extends just north of East State Street to 9th Avenue on the south, and from Kishwaukee Street on the west to 11th Street on the east. It has many historical buildings including the old train depot and The Lantow Building which now houses the “Lantow Lofts” upscale condos. Midtown also includes larger community stakeholders: Swedish American Hospital, U.S. Bank, BMO/Harris Bank, and the headquarters for Rockford Public Schools District 205.

Investment highlights

Mixed office/ medical property available for sale, property is fully leased.

Located within a few minutes walk to Swedish American Hospital, U.S. Bank, BMO/Harris Bank, Dollar General, and Walgreens. Rockford is home to several higher education institutions including Rock Valley College, Rockford University, Northern Illinois University, and more.

Listing Contacts

QB
Qazzafi Butt
Listed by Qazzafi Butt

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$432,000.00
$36,000.00/mo

Valuation Metrics

0
DSCR
9.41%
Cap Rate
9.41%
ROI

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Property History

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