Renovated Midtown Mixed-Use Resi/Retail 3 Bien de détail Vente aux enchères en ligne Rockford, IL

Find the perfect investment property to enter or expand into Northern Illinois with this renovated, mixed-use residential and retail property at the heart of Rockford’s illustrious and historic Midtown District at 102-106 7th Street. Currently fully occupied with month-to-month leases, this is an exceptional chance to collect robust going-in revenue, with immediate value-add or repurposing potential.

Providing a truly diversified investment, 102-106 7th Street comprises three ground-floor storefronts and three upper-level residential units, totaling 7,513 square feet. The property also includes a 2,000-square-foot basement level that is actively leased. The commercial tenants are all long-standing businesses with a history of success at the location. Originally built in 1900, all the units have been fully remodeled, providing contemporary, upscale finishes and fixtures as well as brand-new stainless-steel appliances. The roof was replaced in 2018, and the current thermal roof carries a 25-year warranty. The residential units also have brand-new furnaces with central gas heating and air conditioning, with a 15-year parts warranty.

Nestled at the heart of Rockford’s Historic Midtown District, 102-106 7th Street benefits from fantastic visibility and accessibility on the corner of 7th and Charles Street. More than 12,000 vehicles pass through the intersection each day, providing significant brand exposure to commercial tenants. Equipped with 14 on-site parking stalls, the property offers simplified access options for tenants and customer convenience.

Situated just across the Rock River from Downtown, Midtown Rockford is a trendy neighborhood that is experiencing rapid growth. Its walkable and friendly nature invites residents and visitors to stroll and explore popular local shops and restaurants, tranquil public parks, event venues, and art galleries. Placed at Midtown’s Eastern gateway, 102-106 7th Street attracts businesses and residents with proximity to the area’s top attractions, including UW Health SwedishAmerican Hospital, Sinnissippi Golf Course, the UW Health Sports Factory, and the Rockford City Market. This prime location also affords walkable access to household name brands, such as Dollar General, Subway, Wendy’s, and Burger King.

A cultural and historical touchstone of Northern Illinois, Rockford sits close enough to Chicago to feel the breeze from Lake Michigan, while retaining distinct business advantages that can’t be found in the big city. It sits firmly within the Interstate 90 Growth Corridor, the third-largest economic corridor in the US, and is a world leader in the production of machine tools and auto parts. The city is also quickly emerging as a major player in the aerospace components industry, driving further population and job growth. More than 167,000 residents live within 5 miles of 102-106 7th Street. With an average household income of more than $62,000 and 45% of locals currently renting their homes, these residents deliver strong support for both local retailers and residential rental properties. More than $1.6 billion in consumer spending was recorded for the area during 2024, including over $258 million spent on household segments.

Combining significant year-one income, recently remodeled units, and a prime location in Historic Midtown Rockford, 102-106 7th Street is the perfect addition to a growing investment portfolio.

Property tours by appointment only. Please contact the listing broker to schedule.