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220 N Water St 48,600 SF Industrial Building Rockford, IL 61107 $1,675,000 ($34.47/SF)
EXECUTIVE SUMMARY
Bring your creativity to this project! This 48,600 sq ft building is ready for the next step. Downtown waterfront location is ready for your project. 180ft of shoreline on the Rock River. This building has so many possibilities. Current owner envisioned 21 apartments on the top 3 floors, commercial use on the main floor with dockside restaurant and bar on the river level. It is ready to develop! New R30 TPO Roof (2024), Electric Updated (2025), Brick tuckpointed and sealed. (2025) Asbestos removed (2022),5 Parking with 94 parking lot resurfaced (2025), new LED lights (2025) and new retaining wall. National Park Service Historic Part 1 approved for historic tax credit; The property is currently located within the Rockford River Edge Redevelopment Zone. The City will make available action to assist Developer in establishing eligibility for financial incentives for the Project through the River Edge Redevelopment Program administered by the State of Illinois. This is the former Rever's Marina.
This property is sitting on 2 parcels: 11-23-329-001 and 11-23-333-001
This property is sitting on 2 parcels: 11-23-329-001 and 11-23-333-001
PROPERTY FACTS
| Price | $1,675,000 | Lot Size | 0.31 AC |
| Price Per SF | $34.47 | Rentable Building Area | 48,600 SF |
| Sale Type | Investment | No. Stories | 4 |
| Sale Condition | Redevelopment Project | Year Built | 1907 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Parking Ratio | 1.93/1,000 SF |
| Building Class | C | ||
| Zoning | C-4 - General Commercial district | ||
| Price | $1,675,000 |
| Price Per SF | $34.47 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.31 AC |
| Rentable Building Area | 48,600 SF |
| No. Stories | 4 |
| Year Built | 1907 |
| Tenancy | Single |
| Parking Ratio | 1.93/1,000 SF |
| Zoning | C-4 - General Commercial district |
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Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 11-23-329-001 | Improvements Assessment | $66,856 |
| Land Assessment | $33,144 | Total Assessment | $100,000 |
PROPERTY TAXES
Parcel Number
11-23-329-001
Land Assessment
$33,144
Improvements Assessment
$66,856
Total Assessment
$100,000
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220 N Water St
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