Groveland, IL Apartment buildings for sale

Updated: May 3, 2025

Remodeled Mixed-Use Building For Sale

19478 SPRINGFIELD Road, Groveland, IL 61535

$569,000

6,200 sqft

High 9.07% Cap Rate
Stable $51,216 Net Operating Income (NOI)
Fully Occupied with Long‑Term Tenants and Leases
Newly Remodeled Mixed‑Use Building (2 Apartments, 3 Commercial Units)
Turnkey Property with Minimal Landlord Responsibilities

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This listing looks promising.

Here's a quick look at some key insights for

19478 SPRINGFIELD Road, Groveland, IL 61535

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Est. Cap Rate

7.2%
Above avg (5.9%)
Est. NOI

$41K
Annual
Mortgage

$229K
Jun 2019
Last Sold

Jun 2019
$260K
Property Type

Commercial Office (General)
Built 1972

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Updated: May 13, 2025

Mixed-Use Apartment and Retail Building

19478 SPRINGFIELD Road, Groveland, IL 61535

$565,000

Fully occupied mixed‑use building with 2 residential apartments and 3 commercial units
Long‑term tenants with long‑term leases; in‑place NOI of $51,216 and gross income of $62,556
Stated 9.07% cap rate with minimal landlord responsibilities per public remarks
Newly remodeled building (per public remarks)
Brick partial and wood siding exterior; shingle roof; built in 1979

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Based on your search, we've compiled 10 Potential Opportunities for your consideration. Besides 2 Active listings in Groveland, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

East Peoria Multi-Use Property

1101 E Washington St, East Peoria, IL

$349,900

10,894 sqft 0.68 AC lot

Multi-unit property with retail, gym, apartment, and storage.

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Pekin Multifamily Property Near Lake

740 E SHORE Drive, Pekin, IL 61554

$674,900

0.64 AC lot

Well-maintained 8-unit apartment building near Lake Arlann.

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Mixed-Use Building Near Morton

3409 MEADOW Avenue, East Peoria, IL 61611

$314,900

0.70 AC lot

Multi-use building with commercial spaces and apartments near Morton.

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Pekin Commercial Building with Apartments

101 N PARKWAY Drive, Pekin, IL 61554

$494,900

Versatile commercial building with apartments in Pekin, Illinois.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

Prime Development Land, Springfield MO

N West Bypass, Springfield, MO 65802

$2,850,000

29.20 AC lot

29.2 acres of retail-zoned land for mixed-use development.

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Asheville Development Opportunity: 5.94 Acres

215 N Bear Creek Road, Asheville, NC 28806

$2,500,000

5.94 AC lot

5.94-acre parcel zoned RM6, ideal for multi-family development.

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Greenville Development Opportunity: 1.33 Acres

71 Salters Road, Greenville, SC 29607

$699,900

1.33 AC lot

1.33 acre parcel suitable for multi-family development near downtown.

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Commercial Buildable Land Parcel

801 NW 36th Avenue, Norman, OK 73072

$250,000

0.74 AC lot

Buildable lot with approximately 370 feet of frontage on NW 36th Avenue and soil/engineering testing already completed.

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Groveland, IL Apartment Buildings Market Trends and Statistics

Explore 2 apartment buildings for sale in Groveland, IL on our real estate platform. These investment opportunities span a total of 6,200 square feet of properties for sale, with an estimated market value of $569,000.

Sale prices for two-family homes in Groveland, IL start at $569,000, averaging $569,000, and reaching up to $569,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

Neighborhood	Average Price
61535	$569K

Neighborhood

Average Price

61535

$569K

Groveland, IL Apartment Buildings for Sale

19478 SPRINGFIELD Road, Groveland, IL 61535

19478 SPRINGFIELD Road, Groveland, IL 61535