1034 Short Elm St - Elm Storage 68,880 SF Specialty Building Offered at $4,592,610 CAD in Rockford, IL 61102

The subject property, Elm Storage, is a lease-up opportunity, offering investors a compelling value-add opportunity through op¬erational and revenue optimization. The asset is currently operating below its full potential, with occupancy levels and achieved rental rates significantly under market benchmarks, creating a clear path to drive revenue through lease-up and the implementa¬tion of professional management practices. The property features a functional unit mix designed to accommodate a wide range of tenant needs, along with additional ancillary income streams including tenant insurance, retail sales, U-Haul, and administrative fees. With in-place rents below comparable properties and an expense structure that can be streamlined, investors are well-posi¬tioned to materially increase net operating income and overall asset value through a focused repositioning strategy.
Located in Rockford, Illinois, the property benefits from favorable supply dynamics and a growing economic backdrop. Recent zoning changes within the city have significantly restricted new self storage development, limiting future supply in key commer¬cial corridors and enhancing the long-term positioning of existing facilities. The surrounding trade area is supported by a dense population base and a high percentage of renter households, driving consistent demand for storage. In addition, the market is experiencing meaningful investment and redevelopment, including the expansion of Rock Valley College, the Coleman Yards proj¬ect, the soon-to-open Chicago–Rockford rail connection, and the $12 billion Monarch data center development. These catalysts are expected to drive job growth, increase economic activity, and support long-term demand for self storage, positioning the asset for successful stabilization and sustained revenue growth.