1358 4th Ave 42,916 SF 100% Leased Office Building Rockford, IL 61104 $1,000,000 ($23.30/SF) 1% Cap Rate

Rockford Project – Landmark Building Offered for Sale with Significant Redevelopment Potential
We are pleased to announce the offering of a prominent, large-scale building in Rockford, Illinois, presented as a unique redevelopment opportunity for qualified investors, developers, and institutional buyers. This property represents a rare chance to acquire a substantial asset with the scale, structural integrity, and zoning characteristics necessary to support a transformative residential or hospitality redevelopment.
The building is ideally suited for conversion into a luxury residential complex, a short-term stay or extended-stay hotel, or a hybrid mixed-use concept combining both long-term apartments and furnished short-term units. Its size, floor plate configuration, and construction characteristics allow for flexible interior layouts, making it well-positioned to meet evolving housing and accommodation demands in the Rockford market.
Rockford continues to experience growing interest from investors seeking value-add and repositioning opportunities. As affordability pressures increase in larger metropolitan areas, demand is rising for well-designed residential and hospitality offerings in secondary markets that provide strong fundamentals, workforce access, and improving downtown and neighborhood revitalization initiatives. This project aligns directly with those macro-economic trends.
From a residential perspective, the property offers the potential to develop high-end apartments or loft-style units featuring modern finishes, open layouts, and premium amenities. Such a development would appeal to professionals, healthcare and education workers, remote employees, and downsizing households seeking quality housing at a competitive cost relative to major metro areas.
Alternatively, the asset is exceptionally well-suited for a short-term stay or boutique hotel conversion, including extended-stay suites, furnished corporate housing, or a hospitality concept targeting business travelers, visiting professionals, contractors, traveling nurses, and event-driven demand. A hybrid model—blending long-term residential units with short-term furnished accommodations—could further optimize revenue diversification and occupancy stability.
The building’s redevelopment potential is further enhanced by its scale, which supports common amenities such as lounges, co-working areas, fitness facilities, storage, and shared services that elevate tenant and guest experience. The opportunity exists to create a signature property that stands apart in the Rockford market through thoughtful design, efficient unit mix, and modern building systems.
This offering is intended for buyers with a value-add or redevelopment strategy who recognize the long-term upside in repositioning underutilized or transitional assets into income-producing properties aligned with current market demand. With the right vision and execution, the Rockford Project has the capacity to become a cornerstone residential or hospitality destination within the city.
Qualified parties are invited to express interest and request additional information regarding the property, redevelopment concepts, and acquisition structure. This is a compelling opportunity to unlock value through strategic development in a market positioned for continued growth.