1501 Field Circle
Freeport, IL 61032
Income Property
Pending
$1,550,000
Est. --
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$1,550,000
Est. --
Calculate
-
beds
-
baths
11.41
acres

Description

Approximately 11 acre site approved for 28 quad apartment buildings for a total of 112 units. Currently there are 24 apartments constructed within six buildings. Existing apartments have been historically 100% rented at an average rental of $725 per month. Each apartment unit is separately metered and could be converted to condos. Site is just a minute from Freeport's most active intersection. Property has a pending agreement with the City of Freeport for remaining roads and water/sewer mains to be constructed at city expense. Owners will consider a separate sale of remaining vacant land for $600,000. Remaining land has been approved for an additional 80 apartment units.

Property Highlights

  • Acres: 11.41
  • County: Other
  • Year Built: 1998
  • Parking Spaces: 24
  • Gross Operating Income: $208,000
  • Total Number of Units: 24
  • Property Type: Income Property, Multi-Family (5+ Units)
  • MLS #: 10004039

General Information

CountyOther County
Lot Size Dimensions710 X 700
Year Built1998

Property Features

Exterior (Est)Vinyl Siding
$1,550,000
Est. --
Calculate
-
beds
-
baths
11.41
acres
For Details, Contact
Ruhl&Ruhl Realtors
Location
1501 Field Circle, Freeport, IL 61032 Driving Directions
Nearby Schools
Listed by Michael Deacon, RVG Commercial Realty.
Data provided by MRED MLS.