522 S State St Belvidere, IL 61008
Estimated payment $2,964/month
About This Home
Prime investment opportunity in the heart of downtown Belvidere. This mixed-use commercial property features a well-established main-level business with a full bar, kitchen, three pool tables, five slot machines, and entertainment amenities including a juke box. The second level offers five fully equipped loft areas, each with a microwave, refrigerator, and stove, all occupied by long-term tenants providing consistent rental income. The property is well-maintained with central air and ceiling fans throughout, and its strategic location near the planned Metra train station opening in 2027 positions it for strong future appreciation. This asset combines immediate cash flow with excellent long-term growth potential.
Listing Agent
Keller Williams Realty Signature License #475133262 Listed on: 10/03/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,732
Year Built
- Built in 1889
Home Design
- Metal Roof
- Concrete Siding
Interior Spaces
- 2-Story Property
- Basement
Kitchen
- Oven
- Stove
- Range
- Microwave
Parking
- 20 Car Parking Spaces
- Additional Parking
Schools
- Seth Whitman Elementary School
- Belvidere Central Middle School
- Belvidere North High School
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Natural Gas
- Separate Meters
- Separate Water Meter
- Gas Water Heater
Community Details
- 5 Units
- 3-Story Building
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $4,906 | $56,752 | $4,909 | $51,843 |
| 2023 | $4,906 | $55,242 | $4,909 | $50,333 |
| 2022 | $5,115 | $52,819 | $4,909 | $47,910 |
| 2021 | $5,036 | $51,880 | $4,909 | $46,971 |
| 2020 | $5,350 | $51,880 | $4,909 | $46,971 |
| 2019 | $5,476 | $51,880 | $4,909 | $46,971 |
| 2018 | $5,727 | $51,880 | $4,909 | $46,971 |
| 2017 | $5,511 | $51,800 | $4,990 | $46,810 |
| 2016 | $5,653 | $50,959 | $4,909 | $46,050 |
| 2015 | $5,815 | $50,959 | $4,909 | $46,050 |
| 2014 | $1,044 | $56,672 | $4,566 | $52,106 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/03/2025 10/03/25 | For Sale | $475,000 | -- | $114 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $250,000 | -- |
Source: NorthWest Illinois Alliance of REALTORS®
MLS Number: 202506148
APN: 05-25-360-007
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