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    Springfield, IL Apartment Buildings for Sale

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    Grandview, IL Carriere, MS Southern View, IL Williamsville, IL Sherman, IL Riverton, IL Rochester, IL Chatham, IL
    6 properties
    Renovated Six-Unit Apartment Building
    Updated: May 1
    Renovated Six-Unit Apartment Building

    824 E Ridgely Avenue, Springfield, IL 62702

    $369,900
    Six‑unit apartment building with 4,500 square feet
    All six units have been renovated
    New roof and wood siding completed in 2021
    Multiple new HVAC systems and water heaters
    Additional west parcel may support another six‑unit structure
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    All-Brick 6-Unit Apartment Building
    Updated: Mar 31
    All-Brick 6-Unit Apartment Building

    1546 E CORNELL Street, Springfield, IL 62703

    $160,000
    All‑brick, one‑story 6‑unit apartment building
    Built in 1968
    Individual electric meters for each unit
    Tenants pay electric and gas; landlord pays water and sewer (house meter)
    All units occupied and sold as‑is
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    Multifamily Property
    Multifamily Property

    820 Converse Avenue, Springfield, IL 62702

    $540,000

    The offering includes an additional address identified as 1339 N 9th.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Historic Mixed-Use Building
    Historic Mixed-Use Building

    501 E Capitol Avenue, Springfield, IL 62701

    $2,999,999
    50,691 sqft

    Historic building converted to 25 apartments with in-unit washer/dryers plus office and commercial spaces.

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    Historic Multifamily Apartment Community
    Historic Multifamily Apartment Community

    631 S 4th St, Springfield, IL 62703

    $3,500,000

    Historic property with 75 studio and one-bedroom units across two buildings, plus detached garage and outbuilding.

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    62-Unit Apartment Complex
    62-Unit Apartment Complex

    800 Chatham Rd, Springfield, IL 62704

    Contact for pricing

    Built in 1970, this 62-unit complex features predominantly two-bedroom apartments and is across from Pasfield Golf Course and Washington Park.

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    Based on your search, we've compiled 11 Potential Opportunities for your consideration. Besides 6 Active listings in Springfield, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 1 Off-Market properties to explore as potential leads

    Opportunities in Nearby Cities

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

    Nine-Unit Multifamily Building
    Nine-Unit Multifamily Building

    102 ELM Street, Dawson, IL 62520

    $435,000
    0.86 AC lot

    All units are currently full, with tenant-paid electricity and owner-paid utilities for common services.

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    9-Unit Apartment Building
    9-Unit Apartment Building

    102 ELM Street, Dawson, IL 62520

    $435,000

    R3-zoned apartment building with electric heat and window AC, plus two tenant-owned mobile homes on included lots.

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    Apartment Building with Gymnasium
    Apartment Building with Gymnasium

    352 FRANKLIN Street, Jacksonville, IL 62650

    $450,000
    4.22 AC lot

    Brick apartment building with central air, hot water heat, and a full gymnasium on-site.

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    Apartment Building with Gymnasium
    Apartment Building with Gymnasium

    352 FRANKLIN Street, Jacksonville, IL 62650

    $450,000
    4.22 AC lot

    Brick apartment building on a 4.22-acre lot with tenant-occupied units and a full gymnasium, locker rooms, and auditorium space.

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    Off-Market Properties in Springfield, IL

    Consider similar Off-Market properties in Springfield, IL. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    2305-2309 Cherry Hills Dr
    Multifamily properties

    2305-2309 Cherry Hills Dr, Springfield, IL 62704

    Value Estimation by Request
    View details

    Springfield, IL Apartment Buildings Market Trends and Statistics

    Explore 7 apartment buildings for sale in Springfield, IL, showcased through 6 active listings on our real estate platform. These investment opportunities span a total of 50,691 square feet of properties for sale, with an estimated market value of $7,569,899.

    Sale prices for two-family homes in Springfield, IL start at $160,000, averaging $1,513,979, and reaching up to $3,500,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Small apartment buildings 1

    Demographics Overview

    Population 138K
    Population Growth (5Y) +1.9%
    Median Household Income $70,314
    College Educated 9.5%

    High-Yield Neighborhoods for Investment

    Identify Springfield submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    62702 $559.9K
    62703 $1.8M
    62701 $3.1M

    Taxes & Financing

    Tax Rate (average for all types) 8.64%
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Sangamon County

    New Delisted

    Property Size Breakdown

    The majority of commercial real estate listings in Springfield fall within the 100,000+ square foot range.

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    Most Searched ZIP Codes in Springfield, IL

    • 62702
    • 62703
    • 62701
    • 62704

    Featured Springfield Real Estate Agencies

    Realmo connects you with licensed Springfield CRE brokers providing property specifications, local market pricing, and commercial transaction underwriting support.

    Keller Williams Capital
    3171 Robbins Road Springfield, IL 62704
    Phone: 12175534368
    www.kwspi.com

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