FREEMAN SQUARE OFFICE

Office for Sale
Catylist Listing ID: 30217677
Property Subtypes: Executive Suites, Medical, Mixed Use, Net Leased, Office Building
Building Size (RSF): 33,674 SF
Gross Land Area: 58,608 SF
Sale Price: $275,000
Unit Price: $8.17 PSF
Ceiling: 10 ft.
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: FREEMAN SQUARE
Class of Space: Class B
Usable Size (USF): 33,674 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/16/2018

Overview / Comments

THIS STUNNING, ONE OF A KIND ROMANESQUE BRICK AND STONE BUILDING IS LISTED ON THE ROCKFORD HISTORICAL LANDMARK REGISTER. IT IS CENTRALLY LOCATED NEAR THE MIDTOWN NEIGHBORHOOD.

IS AN EXCELLENT INVESTMENT FOR ANY OWNER/USER OR INVESTOR. YOU CAN'T FIND A BUILDING FOR UNDER $10 PER SQ. FT. WITH THIS MUCH PARKING ANYWHERE.

PREVIOUSLY KNOWN AS THE FREEMAN SCHOOL AND CONVERTED INTO MANY OFFICES, AN OWNER MAY CONSIDER A CONVERSION INTO RESIDENTIAL LOFTS, MUSEUM SPACE OR COMMUNITY PROGRAM SPACE. THERE ARE SO MANY POSSIBILITIES.

MANY CAPITAL IMPROVEMENTS AND RENOVATIONS HAVE BEEN DONE IN RECENT YEARS. A LIST OF IMPROVEMENTS WILL BE AVAILABLE UPON REQUEST.

TAX CREDITS ARE AVAILABLE THROUGH 2020.

Attachments & Media

Additional Details

Nearest MSA: Rockford
County: Winnebago
Taxing Authority: Rockford
Tax ID/APN: 11-26-205-001
Zoning: C4
Property Located Between: 5th & 6th Street
Property Visibility: Excellent
Highway Access: Business Hwy 20 (East State Street)
Airports: Chicago Rockford International
Site Description: Site contains 1.35 acres with over 100 parking spaces.
Area Description: Mixed with a major hospital nearby, commercial, single family and multi-family residential units.
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 8,418 SF
Year Built: 1893
Year Renovated: 2015
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: All brick exterior with loads of character.
Parking Ratio: 3 (per 1000 SF)
Parking Type: Surface
Parking Description: 110 blacktop surface parking spaces.
Total Parking Spaces: 110
Passenger Elevators: 1
Sprinklers: Dry
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: T1/T3
Interior Description: This is a beautiful historic building with many potential uses. Previously occupied by a non-profit company for office use. Office space on all three floors plus the lower level.
Zoning Description: C4 Commercial
Lot Frontage: 198
Lot Depth: 150
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Corporate
Legal Description: GREGORYS ADDN LOTS 3 + 004 BLOCK 006

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,098 113,444 192,136
Median Age: 32.45 34.51 37.7
Households: 7,311 43,993 76,325

Contact

Photograph of Listing Agent

Tom Ewing CCIM CPM RPA MCR

KELLER WILLIAMS REALTY SIGNATURE ICEx Member
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