1115 S 2ND ST Active Save Request In-Person Tour Request Virtual Tour
Springfield,IL 62704
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,893 sqft
Price per Sqft $60
MLS Listing ID CA1033569
Originating Board rmlsa
Annual Tax Amount $4,982
Tax Year 2023
Lot Size 8,712 Sqft
Acres 0.2
Property Description
This prime downtown property, located just steps from the Capitol building, offers an exceptional investment opportunity with its excellent condition, versatile spaces, and steady income potential. Remodeled in 2001 with updated wiring, the building features modern functionality throughout its layout. It includes 2,162 square feet of office space across the first and second floors, currently leased to the Illinois Association of Aggregate Producers for $2,500 per month (with a potential rent escalation to $2750 in 2026 and a new 5-year term, see attached lease for details). The property includes a large conference room, multiple bathrooms, kitchen spaces/break rooms, enhancing its functionality and appeal. The third floor houses a 650-square-foot 1-bedroom apartment, generating $600 per month on a month-to-month lease, allowing the new owner flexibility to adjust the rent to market rates. Additionally, it offers a 1,081-square-foot unfinished basement ideal for storage to tenants. Property also offers a well-maintained parking lot with plenty of parking. The average monthly expenses include $520 for utilities, $170 for insurance, and $60 for garbage, totaling $1,215. Other updates: 3rd story water heater: 2024, newer fence around parking lot. Strategic location, stable tenants, and potential for increased revenue make this mixed-use property an outstanding investment. Don't miss this rare opportunity to own a standout piece of downtown real estate!
Location
State IL
County Sangamon
Area Springfield
Zoning R5B
Direction From S Grand Ave turn North on 2nd Street
Interior
Heating Electric,Heat Pump
Cooling Central Air,Heat Pump
Flooring Carpet,Tile/Vinyl,Wood
Fireplace N
Exterior
View true
Roof Type Asphalt/Fiberglass
Garage 1
Building
Faces From S Grand Ave turn North on 2nd Street
Sewer Public Sewer
Water Municipal/City
Structure Type Vinyl Siding,Frame
Others
Tax ID 14-33.0-483-029
Security Features Yes