1.10 +/- acre redevelopment opportunity in the Mid-Illinois Medical District, just north of Downtown Springfield. Currently improved as a surface parking lot, but could be a mixed-use development, medical use, or some other higher purpose. Located within the Adirondack TIF District, an Opportunity Zone, and a Cannabis Grants Area. The site has 320' frontage on Madison St. (11,000 AADT) with additional access from N. 5th St. (5,400 AADT). The site is positioned to benefit from the Downtown Springfield & Mid-Illinois Medical District Master Plan, the Springfield Rail Improvements Project, the proposed Medical District expansion, the planned Third Street Greenway (The LINC), and the new SMTD Transportation Hub.
Vacant landProperty Type
1.1 acresLot Size
$271,818Price/Acres
Listed by Blake Pryor• Coldwell Banker Commercial Dev
Downtown Springfield, located between the Illinois State Capitol Complex and the Sangamon River, is a historic and civic Springfield neighborhood with a grand government core and a walkable grid of storefront blocks. The neighborhood’s character concentrates around the 6th Street and Adams Street corridor, where coffee counters, galleries, and late-night bites spill light onto brick sidewalks. The Abraham Lincoln Presidential Library and Museum and the Old State Capitol anchor the cultural calendar, while Obed & Isaac’s Microbrewery and Eatery adds a local gathering room in a former industrial setting. Italianate and early-20th-century commercial facades frame pocket plazas and murals. Office towers and restored upper-floor lofts sit above independent shops. Festival crowds and weekday courthouse rhythms share the same streets.
Provided by Walk Score and Local Logic
Property details
Exterior
Finance
Exterior features
Corner lot
Two parcels located on the north side of E. Madison St between N. 4th St and N. 5th St
Home design
Lots & Land (commercial)
Subdivision: Edwards
Located in the Springfield area
Construction
1.1 acre total (approx.)
Lot dimensions approximately 120 x 320 x 187
Utilities
Public sewer
Electricity available
Natural gas available
Other utilities available
Financial info
Zoned Commercial
Active listing
Other
Redevelopment opportunity in the Mid-Illinois Medical District (per legal description)
Two lots
Electricity and solar
View estimated energy costs and solar savings for this home