This rare investment opportunity offers both immediate income & significant upside potential. Complex features 7 apartment units in a quiet, convenient setting right in the heart of downtown. There's strong tenant appeal with five of the seven units featuring spacious private balconies and all units offering attractive amenities like large windows (some with stunning views), built-in cabinetry, generous closets & efficient layouts. Tenants enjoy mature landscaping, a convenient, common laundry area and modest yet functional floor plans that promote long-term tenancy. The top floor unit is an expansive 1BR penthouse style suite with a jetted tub, separate shower and a private balcony boasting exceptional views which makes it ideal for a premium long-term tenant or a high-performing vacation unit. In 2024, the sewer line from the building to the city main was fully upgraded with new PVC piping. This central location is ideal for commuters and remote workers alike in a high-demand rental area that's within walking distance to government offices, state agencies and many major medical employers.
Multi-familyProperty Type
1937Year Built
7,520 sq ftLot Size
$116Price/Sq.Ft.
7 spacesParking
Listed by Kyle Killebrew• The Real Estate Group, Inc.
Contact: Mobl: 217-741-4040
Bought with Kyle Killebrew• The Real Estate Group, Inc.
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
—
Year renovated
—
Sq. Ft.
—
Year built
—
Style
Multi-Family (5+ Unit)
County
Sangamon County
APN
14330254002
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on May 25, 2023.
R-3(B)
General Residence District
These districts are designed to provide for all types of residential buildings, in order to permit a broad range of housing types, with appropriate standards on density, open space, and spacing the buildings. These districts are mapped in relation to a desirable future residential density pattern, with emphasis on accessibility to transportation facilities, and to various community facilities, and on the character of the existing development. These districts also include community facilities and public open space uses which serve the residents of the districts or which an open residential environment benefits. The uses permitted in R-3 (a), (b) districts are identical, however, provisions of section 155.056 of this chapter limit the density of residential uses.
Permitted uses
Include but are not limited to:
Community / recreation center
Religious facility
Housing-Single unit
Housing-Multiple units
Housing-Senior
Housing-Student
Educational / school
Library
Museum / gallery
Golf related
Property details
Parking
Parking Information
Parking Total: 7
Parking Features: Assigned
Interior
Heating & Cooling
Cooling: Central Air
Heating: Forced Air
Room Information
Basement: Full
Interior Features
Cable Available
Laundry Features: Common Area
Multi-Unit Information
Units: 7
Unit 1 Information
Unit 1 Full Bathrooms: 1
Unit 1 Half Bathrooms: 0
Unit 1 Covered Parking Spaces: 0
Unit 1 Parking Spaces: 1
Unit 1 Uncovered Parking Spaces: 1
Unit 1 Actual Rent: 750
Unit 1 Type: Unit 1
Unit 1 Bedrooms: 1
Unit 2 Information
Unit 2 Full Bathrooms: 1
Unit 2 Half Bathrooms: 0
Unit 2 Covered Parking Spaces: 0
Unit 2 Parking Spaces: 1
Unit 2 Uncovered Parking Spaces: 1
Unit 2 Actual Rent: 800
Unit 2 Type: Unit 2
Unit 2 Bedrooms: 1
Unit 3 Information
Unit 3 Full Bathrooms: 1
Unit 3 Half Bathrooms: 0
Unit 3 Covered Parking Spaces: 0
Unit 3 Parking Spaces: 1
Unit 3 Uncovered Parking Spaces: 1
Unit 3 Actual Rent: 725
Unit 3 Type: Unit 3
Unit 3 Bedrooms: 1
Unit 4 Information
Unit 4 Full Bathrooms: 1
Unit 4 Half Bathrooms: 0
Unit 4 Covered Parking Spaces: 0
Unit 4 Parking Spaces: 1
Unit 4 Uncovered Parking Spaces: 1
Unit 4 Actual Rent: 750
Unit 4 Type: Unit 4
Unit 4 Bedrooms: 1
Exterior
Property Type
Property Sub Type: Residential Income
Exterior Features
Roof: Shingle
Property Information
Property Sub Type: Residential Income
Lot Information
Lot Features: Level
Lot Size Dimensions: 94 x 80
Road Surface Type: Paved
Building Information
Is New Construction: No
Building Area Total: 3520
Financial
Tax Information
Tax Year: 2023
Tax Annual Amount: 5490.32
Tax Legal Description: Assrs Sub Ne 33 & Pt W1/2 Nw 34-16-5 S 94'W 80' L 31
Utilities
Utility Information
Water Source: Public Sewer, Public
Location
School Information
High School: Springfield District #186
Location Information
Directions: Located On New Street Between Lawrence And Edwards.
Subdivision Name: None
MLS Area Minor: Springfield
Community Information
Laundry Features: Common Area
Units: 7
Public facts
Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: —
Style: Multi-Family (5+ Unit)
Year Built: —
Year Renovated: —
County: Sangamon County
APN: 14330254002
Home facts updated by county records on May 25, 2023
Other
Listing Information
MLS Area Minor: Springfield
Standard Status: Closed
Home Information
Building Area Total: 3520
Structure Type: Apartment Building
Year Built: 1937
Around this home
Schools
Elizabeth Graham Elementary School
Public K-5 • Assigned • 0.3mi
3/10
Benjamin Franklin Middle School
Public 6-8 • Assigned • 1.6mi
4/10
Springfield High School
Public 9-12 • Assigned • 0.4mi
5/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Historical weather
Springfield, IL • 62704
Average low and high temperatures (°F)
33
17
43
25
62
39
69
49
75
55
83
66
87
71
84
65
83
58
72
49
54
38
41
26
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 10.2 hours in
June and 4 hours in December, which is comparable to the
U.S. average for solar exposure.