Active
222 Exchange Street
Freeport, IL 61032
$499,900 ▼ $35,100 from $535,000
0beds
0baths
—sqft
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About this home
Downtown Freeport Mixed-Use Investment | Multiple Income Streams Strategically located in the heart of downtown Freeport, this multi-level mixed-use building presents an exceptional opportunity for investors seeking diversified and scalable income. The property features multiple finished levels anchored by a second-level residential loft apartment with five bedrooms, ideal for executive housing, short- or long-term rental, or owner occupancy. The commercial component consists of 21 individual rentable spaces, well-suited for salon suites, professional offices, and service-oriented businesses, allowing for tenant diversification and strong demand across multiple business sectors. The building is equipped with a functional elevator, enhancing accessibility and broadening tenant appeal. Additional highlights include ample on-site parking, a high-visibility downtown location, and close proximity to dining, retail, and civic amenities-driving consistent foot traffic and long-term tenancy. This asset offers multiple revenue streams, flexible leasing configurations, and value-add potential through lease optimization or repositioning. Ideal for investors, owner-operators, or portfolio expansion, this downtown Freeport property combines residential income, commercial stability, and strong location fundamentals in one compelling offering.
MLS Description — as provided by the listing brokerage.
The facts
Property typeCommercial Sale
Year built1900
Lot size—
Annual tax$4,800
CountyStephenson
MLS #MRD12522183
Days on market138
Features
Cooling
Central AirWindow Unit(s)
Construction
Brick
Listed by
NextHome First Class
Kimberly Taylor · 815-541-5557
Listing courtesy of mred MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of 4/27/2026, 5:26:17 AM. All data should be independently verified.
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