Developer purchases downtown Rockford commercial building

From press release

A Rockford-based real estate development firm has purchased a historic downtown Rockford building that it plans to renovate and market as a mixed-use commercial and residential property.

The two-story, 6,500-square-foot building, which is located at 110 N. First St., was purchased by Rockford-based Urban Equity Properties, doing business as JMZ Properties, LLC. The purchase price was not disclosed.

Melissa S. Miller, broker/associate with Rockford-based Century 21 Country North, completed the transaction on behalf of the JMZ Properties. John Funderburg of Doyle, Woodhouse and Moore, Inc., represented the seller, a private local investment group. Both brokers are members of the Rockford Area Association of Realtors.

Justin Fern, managing partner of JMZ Properties, said the firm plans to build two residential loft apartments on the top floor as well as a ground-floor commercial space suitable for offices, retail or restaurant/café use.

This is the latest in a series of adaptive reuse projects by Urban Equity Properties. Other current projects include 317-325 W. Jefferson St. and 317 Market St., which are also located in downtown Rockford.

From the October 28 – November 3, 2009

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