211 E Stephenson St 4 Unit Apartment Building $164,449 CAD ($41,112 CAD/Unit) 14.87% Cap Rate Freeport, IL 61032

For Sale – Mixed-Use Investment / Owner-User Opportunity | Freeport, IL
Well-located three-story brick commercial building offering a compelling blend of stable income and owner-user potential. Situated in a visible corridor of Freeport, this classic structure features four residential apartments and a street-level commercial space, making it ideal for investors or business owners seeking to occupy while collecting rental income.
The residential component consists of four apartments, with three units currently leased, providing immediate, reliable cash flow. Units are well-configured and appeal to the area’s steady demand for affordable housing, a common driver of consistent occupancy in the Freeport market .
The main-floor commercial space is currently vacant, presenting a prime opportunity for an owner-user or value-add investor. With strong street presence, large storefront windows, and flexible layout, the space is well-suited for a variety of uses including retail, office, service business, or studio. Visibility and accessibility make it an attractive location for a business looking to establish or expand locally.
Constructed of solid brick, the building offers classic architectural character along with long-term durability. Separate utilities (typical in similar properties in the area) and straightforward management contribute to operational efficiency .
Highlights:
3-story brick mixed-use building
4 residential units (3 occupied / 1 potential upside)
Vacant commercial space ideal for owner-user
Income-producing with additional lease-up potential
Strong visibility and central location
Opportunity to offset occupancy costs with rental income
This is a rare chance to acquire a partially stabilized asset with both immediate cash flow and upside through commercial occupancy or rent growth—perfect for an investor or business owner looking to control their space while building equity.