211 E Stephenson, FREEPORT, IL 61032
Stephenson County
Key Facts
Description
For Sale – Mixed-Use Investment / Owner-User Opportunity | Freeport, IL Well-located three-story brick commercial building offering a compelling blend of stable income and owner-user potential. Situated in a visible corridor of Freeport, this classic structure features four residential apartments and a street-level commercial space, making it ideal for investors or business owners seeking to occupy while collecting rental income. The residential component consists of four apartments, with three units currently leased, providing immediate, reliable cash flow. Units are well-configured and appeal to the area’s steady demand for affordable housing, a common driver of consistent occupancy in the Freeport market . The main-floor commercial space is currently vacant, presenting a prime opportunity for an owner-user or value-add investor. With strong street presence, large storefront windows, and flexible layout, the space is well-suited for a variety of uses including retail, office, service business, or studio. Visibility and accessibility make it an attractive location for a business looking to establish or expand locally. Constructed of solid brick, the building offers classic architectural character along with long-term durability. Separate utilities (typical in similar properties in the area) and straightforward management contribute to operational efficiency . Highlights: 3-story brick mixed-use building 4 residential units (3 occupied / 1 potential upside) Vacant commercial space ideal for owner-user Income-producing with additional lease-up potential Strong visibility and central location Opportunity to offset occupancy costs with rental income This is a rare chance to acquire a partially stabilized asset with both immediate cash flow and upside through commercial occupancy or rent growth—perfect for an investor or business owner looking to control their space while building equity.
Property Information
Property Type
Commercial Sale
Sub-Type
Mixed Use
Year Built
1892
Living Area
5,040 sq ft
Lot Size
0.05 acres
Days on Market
32
MLS® Listing#
202602155
Property Features
Appliances
Cooling
Heating
Basement
Schools
- District:
- Freeport 145
Financial Details
Annual Taxes
$850
Tax year 2024
Parcel Number
181431215002
Affordability Calculator
$24,000
Estimated monthly payment
$639/mo
Principal $96,000 · Est. interest $133,929 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in FREEPORT, IL
- 59
- Median Days on Market
- 1,739
- Median Sq Ft
- $102
- Median Price / Sq Ft
- 116
- Active Listings
- Its price per sq ft is 77% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in FREEPORT, IL.
Location
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Points of Interest in FREEPORT, IL
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Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 7 Arcade Court, Freeport, IL | $89,900 | 4 | 2 | 1,739 |
| 239 W Winnifred Street, Freeport, IL | $94,900 | 6 | 2 | 1,900 |
| 528 S Harlem Avenue, FREEPORT, IL | $107,500 | 2 | — | 1,176 |
| 302 E Prospect Terrace, FREEPORT, IL | $109,900 | 3 | — | 937 |
| 302 E Prospect Terrace, Freeport, IL | $109,900 | 3 | 2 | — |
| 1510 W Winter Drive, FREEPORT, IL | $115,000 | 3 | — | 1,168 |
Moving Cost Estimate
EXIT Agents in FREEPORT
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