524 W Stephenson St | Freeport, IL 61032
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- LoopNet Team
524 W Stephenson St
Freeport, IL 61032
Value-Add Office Investment with New Leases · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Landmark office building, 76% leased, providing immediate cash flow and lease upside for investors.
- Regularly renovated, including updates to the HVAC and signage, it features a brick façade, clay-tile roofing, and beautiful classic architecture.
- Tenants benefit from proximity to downtown amenities, major retailers, a golf course, picturesque parks, and the FHN Memorial Hospital.
- Simplified commutes with easy access to Highway 20 and 26, and connections to Chicago/Rockford International Airport in under an hour.
- Modern amenities include fiber optic internet, an on-site cafeteria, flexible floor plans, key card access, and security camera systems.
- Area supports ±1,800 businesses with ±19,000 daytime employees, with office rents rising an average of 2.6% yearly over the past decade.
PROPERTY FACTS
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Building Size
78,802 SF
Building Class
A
Year Built/Renovated
1928/2024
Percent Leased
76%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
19,701 SF
Building FAR
0.51
Lot Size
3.52 AC
Parcel Number
18-14-31-154-027
Zoning
Multiple - Commercial
Parking
200 Spaces (2.54 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Controlled Access
- Security System
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