502 Franklin St

$159,900
Price
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Become a staple in the community by owning this transitional property that has so many possibilities for your business. Come in and explore the endless space and envision your becoming a thriving reality. Walking through the front door and step onto the original hardwood floors, ample sunlight covering two separate rooms. Room 1 (24.1' x 21.2') Room 2 (16.6' x 12.6'). From there go into two additional rooms that can be divided in many ways. Room 1 (21.2' x 13.3') Room 2 (17.1 x 13.3'). There are...Become a staple in the community by owning this transitional property that has so many possibilities for your business. Come in and explore the endless space and envision your becoming a thriving reality. Walking through the front door and step onto the original hardwood floors, ample sunlight covering two separate rooms. Room 1 (24.1' x 21.2') Room 2 (16.6' x 12.6'). From there go into two additional rooms that can be divided in many ways. Room 1 (21.2' x 13.3') Room 2 (17.1 x 13.3'). There are additional smaller rooms that are both (12 x8.3') that can be used as additional storage or office. This space has many features that add tons of value that many commercial spaces lack. Two bathrooms and one bathroom is ADA Compliant. Walk upstairs into a secluded space that could be converted into a quiet meeting space. New roof in 2023, updated electrical 2021, five mini-split electric heat and air units, three newer windows. With the growing need for Airbnb's the possibilities are endless, and the layout is perfect to be converted into a residential space. If that isn't enough this property is nestled in the TIF district, which has the possibility to enhance the new owner's ability to start their dream business.
  1. Listed by Matthew Bouback • Re/Max of Rock Valley
    P: (815)-505-5827 mattbouback@gmail.com

Property Details for 502 Franklin Street

Area
Oregon
Township
Nashua
Air Conditioning Type
Window Unit(s)
LISTING UPDATED: 12/24/2025 02:01 AM

Property Details for 502 Franklin Street

StatusActive
MLS #12414744
Days on Market183
Taxes$2,875 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1920
Lot Size0.07 AC / 2,906 SF
CountyOgle County

Location

Listing Courtesy of Re/Max of Rock Valley
Add your commute

Building Information for 502 Franklin Street

Stories1Residences6Year Built1920Lot Size0.07 AC / 2,906 SF

Payment Calculator

$1,019 per month

30 year fixed, 6.15% Interest

Principal and Interest

$779

Property Taxes

$240

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 502 Franklin Street

General Information
Addtl Parking Information
  • Outdoor Parking: 1-5 Spaces,Parking-Street
Location and General Information
  • Geographic Locale: Out of Area
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Service - 0 to 100 Amps
  • Heat/Ventilation: Electric,Steam
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 0
Property/Lot Information
  • Tenant Pays: Varies by Tenant
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 46X66
  • Lot Size Square Feet: 2906.0
  • Stories: 1
  • Construction: Cedar, Frame
  • Roof Type: Composition
  • Fire Protection: Fire Extinguisher/s
  • Roof Structure: Pitched
  • Foundation Details: Concrete Perimeter
  • Building Area Total: 1800
  • # Of Offices: 6
  • # Of Stores: 0
  • Property Sub Type: Mixed Use
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 34
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $.00
  • Gross Scheduled Income: $.00
  • Insurance Expense: $.00
  • Total Monthly Income: 0
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $.00

Property History for 502 Franklin Street

DateEvent & SourcePriceAppreciation
Dec 19, 2025

Price Change

MRED #12414744

$159,900
Jul 9, 2025

Listed (Active)

MRED #12414744

$169,900
Jun 20, 2025

Expired

MRED #12008816

$169,900
Mar 21, 2025

Price Change

MRED #12008816

$179,900
Mar 21, 2025

Listed (Active)

MRED #12008816

$194,900
Mar 20, 2025

Expired

MRED #12008816

$179,900
Sep 13, 2024

Price Change

MRED #12008816

$184,900
Mar 20, 2024

Listed (Active)

MRED #12008816

$194,900
Oct 1, 2021

Sold (Public Record)

Public Record #1506286326

$77,000
Oct 1, 2021

Sold

MRED #10904993

$78,000
Oct 1, 2021

Sold (Public Record)

Public Record #1474382651

$77,000
Jun 21, 2021

Pending

MRED #10904993

Apr 21, 2021

Listed (Active)

MRED #10904993

$85,000
DateEvent & SourcePrice
12/19/2025

Price Change

MRED #12414744

$159,900
07/09/2025

Listed (Active)

MRED #12414744

$169,900
06/20/2025

Expired

MRED #12008816

$169,900
03/21/2025

Price Change

MRED #12008816

$179,900
03/21/2025

Listed (Active)

MRED #12008816

$194,900
03/20/2025

Expired

MRED #12008816

$179,900
09/13/2024

Price Change

MRED #12008816

$184,900
03/20/2024

Listed (Active)

MRED #12008816

$194,900
10/01/2021

Sold (Public Record)

Public Record #1506286326

$77,000
10/01/2021

Sold

MRED #10904993

$78,000
10/01/2021

Sold (Public Record)

Public Record #1474382651

$77,000
06/21/2021

Pending

MRED #10904993

04/21/2021

Listed (Active)

MRED #10904993

$85,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 502 Franklin Street

Taxable ValueLand$3,937Additions$24,684Total$28,621
Tax Record2024$2,875 ($240 / month)
Home Facts
Lot Size3,036 SqFtStyleOffice BuildingCountyOGLEAPN16-03-153-014

Schools near 502 Franklin Street

This home is within Oregon Community Unit School District 220.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 12
Rating
School
Distance
Oregon Elementary School
PublicPK to 6

Oregon High School
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

502 Franklin Street is a mixed use property for sale in Oregon, IL 61061. This property was listed for sale on July 9, 2025 by Re/Max of Rock Valley, it's currently listed at $159,900. It has been on the market for a total of 183 days and was last sold on October 1, 2021. This listing's school district is Oregon Community Unit School District 220. Nearby schools include Oregon Elementary School, Oregon High School and Rock River Challenge. 502 Franklin Street is a 0-bed, 0-bath, mixed use property built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Re/Max of Rock Valley

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/24/2025 02:01 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.