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$ 720,000
Est. payment /mo
Active
402 E State ST Rockford, IL 61104
12,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 12,000 sqft
Price per Sqft $60
MLS Listing ID 12666065
Year Built 1901
Annual Tax Amount $7,536
Tax Year 2025
Lot Dimensions 87x51
Property Sub-Type Mixed Use
Property 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.
Location
State IL
County Winnebago
Area Rockford
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Mixed Use
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Listed by Dakota Nilson of @properties Commercial