2307 23rd Street
Rockford, IL
Type: Multifamily
Sale Price: $600,000
Cap Rate: Call
Unit Price: Call
Date: Pending
2307 23rd St - Marcus & Millichap is pleased to present an eight-unit apartment building located 2307 23rd Street in Rockford, Illinois. Located in Winnebago County, the city of Rockford is the third largest city in the state of Illinois and home to approximately 150,000 residents. Interstate 90, US Route 20, Interstate 39, and US Route 51 all link Rockford to surrounding metropolitan areas. The subject property is located approximately five and one-half miles from the Chicago Rockford International Airport, one-half mile to Pace bus stops; 23rd Ave & 20th Street, 20th St & Harrison and Ohio Pkwy & Dartmouth/Wesleyan.
The building is comprised of eight three-bedroom / two-bedroom townhome units. Each unit features individual garage spaces, balconies, dishwashers, furnaces, and water heaters. Tenants are responsible for their electric, gas and water expenses. In the last couple of years, the building had undergone re-tenanting, sub-metering of the tenant’s water and received a newer roof and siding.
Rockford - Rockford has recently seen an economic expansion with the construction of Mercy Health’s $465 million complex. The complex is expected to be completed in 2019 and is the most expensive construction project in Rockford history. Rockford has also seen the expansion of its logistics and distribution industry, with ATI, ABX and Atlas Air partnering with Amazon Prime to begin operating multiple daily cargo flights from Rockford Airport. In addition, Rockford International Airport is currently undergoing a $20 million terminal expansion.
