REDUCED - 16 % + Pro Forma Return ! 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.
For sale
Price cut: $10K (7/27)
$110,000
211 E Stephenson, Freeport, IL 61032
4beds
5baths
5,040sqft
5+ Units
Built in 1892
-- sqft lot
$-- Zestimate®
$22/sqft
$-- HOA
What's special
Strong street presenceClassic architectural characterFour residential apartmentsStreet-level commercial spaceFlexible layoutLarge storefront windows
- 174 days
- 164
- 11
Zillow last checked:
Listing updated:
Listed by:
BRIAN BORCHARDT 815-238-2015,
A-1 Agency
Source: NorthWest Illinois Alliance of REALTORS®,MLS#: 202602154
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 5
Heating
- Electric, Natural Gas
Cooling
- Central Air, Window Unit(s)
Appliances
- Included: Refrigerator, Stove/Cooktop, Natural Gas Water Heater
Features
- Basement: Full
Interior area
- Total structure area: 5,040
- Total interior livable area: 5,040 sqft
- Finished area above ground: 5,040
- Finished area below ground: 0
Property
Parking
- Total spaces: 9
Features
- Levels: Three Or More
- Stories: 3
- Exterior features: Balcony
Details
- Parcel number: 181431215002
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 5+ Units
Materials
- Brick/Stone, Other
- Roof: Other
Condition
- Year built: 1892
Utilities & green energy
- Electric: Circuit Breakers, Fuses
- Sewer: City
- Water: City
- Utilities for property: No Separate Utilities
Community & HOA
Community
- Subdivision: IL
Location
- Region: Freeport
Financial & listing details
- Price per square foot: $22/sqft
- Annual tax amount: $850
- Price range: $110K - $110K
- Date on market: 4/19/2026
- Cumulative days on market: 123 days
Estimated market value
Not available
Estimated sales range
Not available
$1,080/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/30/2026 | Listed for sale | $110,000$22/sqft |
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| 9/5/2026 | Pending sale | $110,000$22/sqft |
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| 7/27/2026 | Price change | $110,000-8.3%$22/sqft |
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| 6/16/2026 | Listed for sale | $120,000$24/sqft |
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| 6/2/2026 | Listing removed | $500 |
Source: Zillow Rentals Report a problem | ||
| 5/31/2026 | Pending sale | $120,000$24/sqft |
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| 5/5/2026 | Listed for sale | $120,000$24/sqft |
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| 4/24/2026 | Pending sale | $120,000$24/sqft |
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| 4/19/2026 | Listed for sale | $120,000$24/sqft |
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| 2/3/2026 | Listed for rent | $500-9.1% |
Source: Zillow Rentals Report a problem | ||
| 12/16/2025 | Listing removed | $550 |
Source: Zillow Rentals Report a problem | ||
| 12/5/2025 | Price change | $550-8.3% |
Source: Zillow Rentals Report a problem | ||
| 9/9/2025 | Listed for rent | $600 |
Source: Zillow Rentals Report a problem | ||
| 6/4/2025 | Listing removed | $600 |
Source: Zillow Rentals Report a problem | ||
| 6/3/2025 | Listed for rent | $600 |
Source: Zillow Rentals Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 61032
Nearby schools
Schools provided by the listing agent
- Elementary: Freeport 145
- Middle: Freeport 145
- High: Freeport 145
- District: Freeport 145
Source: NorthWest Illinois Alliance of REALTORS®. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.



