Rockford, Illinois News

Downtown Rockford development nears completion

ROCKFORD – The redux of a historic downtown building is nearly complete.

When finished, Urban Equity Properties’ Residences at Talcott, 321 W. State St., will boast 63 luxury apartments along with three floors of commercial space.

The commercial component of the unique development was completed in 2019. Residential leasing began earlier this year. There are currently 30 apartments occupied.

“It’s one of only a few high rises in the city (and) it’s now probably the most luxury residential building in the surrounding five counties,” UEP Founding Principal told  23 News.  “There’s a market in Rockford and it’s vastly large. There’s substantial demand and just not enough supply. And that’s what we’re doing, is building more because of that supply and demand need.”

The 13-story Residences at Talcott also includes a fitnesses center, theater, tenant lounge and rooftop deck.

Fern said UEP has several other projects in the works, ones that will result in several hundred residential units and an array of commercial space over the next few years.

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