Pending

211 E Stephenson St

FREEPORT, IL 61032

$120,000 $505/Mo

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Overview

Bed

Bath

1,680

Sqft

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 opport unity 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 Details

Property Type : Residential Income

Price : $120,000

AD Id : 77609553

MLS Id : 202602154

Beds : 4

Living Area Size : 1,680

Year Built : 1892

County : Stephenson

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 4

Room Information

Has Basement: Yes Basement: Full
Interior Features

Appliances: Refrigerator, Gas Water Heater
Heating & Cooling

Has Cooling: Yes Cooling: Central Air

Building Information

Year Built: 1892 Construction Materials: Brick Private Pool: No

Listing Price Information

Listing Price: $120000

Tax Information

Parcel Number: 181431215002 Tax Year: 2024 Annual Tax: $850 Tax Legal Desc: PT LOT 9 BLK 44 ORIG TOWN FREEPORT

Parking Information

Parking Total: 9

School Information

Elementary School: Freeport 145

Junior High School: Freeport 145

Senior High School: Freeport 145

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
404-406 E Prospect Terr.., Freeport, IL, 61032	$200,000	4	--	--
302 E Prospect Terrace, Freeport, IL, 61032	$109,900	3	--	937	937 SqFt
251 W Homer Street, Freeport, IL, 61032	$45,000	3	--	--
717 W Pleasant Street, Freeport, IL, 61032	$85,000	3	--	1,032	1,032 SqFt

Similar Multifamily To 211 E Stephenson St

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Active

$85,000

Multifamily For Sale

717 W Pleasant Street,
Freeport, IL, 61032

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302 E Prospect Terrace,
Freeport, IL, 61032

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404-406 E Prospect Terrace,
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Active

$45,000

Multifamily For Sale

251 W Homer Street,
Freeport, IL, 61032

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The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the NorthWest Illinois Alliance of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than ByOwner, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2026 NorthWest Illinois Alliance of REALTORS®. All Rights Reserved.

ByOwner last updated this listing 06/10/2026 @ 11:03

MLS: 202602154 LISTED BY: BRIAN BORCHARDT, A-1 AGENCY 815-238-2015 SOURCE: NorthWest Illinois Alliance of REALTORS