Springfield, IL Apartment Buildings for Sale

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Six-Unit Apartment Building with Upgrades

$399,900

4,500 SF

Six-Unit Apartment Building with Upgrades

824 E Ridgely Avenue, Springfield, IL 62702

Updated six-unit apartment building with expansion potential in Springfield, IL.

Six renovated units in a 4,500 sq ft apartment building
Additional parcel included, with potential to rebuild another six‑unit structure
Significant recent upgrades: new roof and siding (2021)
Multiple new HVAC systems and water heaters
Minimal initial maintenance required

Updated: May 1

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Springfield Multifamily Investment Opportunity

$749,800

6.60 Acres

Springfield Multifamily Investment Opportunity

2510 & 2518 W JEFFERSON Street, Springfield, IL 62702

Fully occupied 10-unit property on 6.5 acres with development potential.

Fully occupied 10‑unit property generating $7,965 monthly income.
Significant development potential on 6.5 acres with R3 zoning.
Opportunity to rebuild a multi‑unit structure (duplex previously existed).
Located in the desirable Springfield High School District.
Tenants pay electric and gas, reducing owner expenses.

Updated: Mar 4

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$385,000

Springfield Multifamily Investment Opportunity

Six-unit complex with high occupancy and recent renovations.

629 W WASHINGTON Street, Springfield, IL 62702

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$250,000

Springfield Multifamily Investment Opportunity

Six-unit multifamily property near Lincoln Park, fully occupied.

524 E Ridgely Avenue, Springfield, IL 62702

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Historic Ridgely Building Redevelopment Opportunity

Contact for pricing

57,185 SF

Historic Ridgely Building Redevelopment Opportunity

Twelve-story building suitable for office, retail, or multifamily redevelopment.

500 E Monroe St, Springfield, IL 62701

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$160,000

Springfield Multifamily Investment Opportunity

Six-unit, all-brick apartment building in Springfield, Illinois.

1546 E CORNELL Street, Springfield, IL 62703

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$192,000

Arlington Heights Condo with Amenities

Well-maintained 2 bed, 2 bath condo with modern amenities.

2622 N Windsor Drive #101, Arlington Heights, IL 60004

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Based on your search, we've compiled 80 Potential Opportunities for your consideration. Besides 7 Active listings in Springfield, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 65 Off-Market properties to explore as potential leads, 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.

$674,900

0.64 Acres

Pekin Multifamily Property Near Lake

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

740 E SHORE Drive, Pekin, IL 61554

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Mixed-Use Property with Income Potential

$800,000

14,500 SF

Mixed-Use Property with Income Potential

Value-add investment opportunity in Decatur's downtown commercial corridor.

334 W Main St, Decatur, IL

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$2,340,000

Decatur Multifamily Investment Opportunity

35-unit multifamily property in Decatur, Illinois with value-add potential.

105, 111, 117, & 133 Elder Lane, Decatur, IL 62522

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$494,900

Pekin Commercial Building with Apartments

Versatile commercial building with apartments in Pekin, Illinois.

101 N PARKWAY Drive, Pekin, IL 61554

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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.

$2,850,000

29.20 Acres

Prime Development Land, Springfield MO

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

N West Bypass, Springfield, MO 65802

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$2,500,000

5.94 Acres

Asheville Development Opportunity: 5.94 Acres

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

215 N Bear Creek Road, Asheville, NC 28806

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$699,900

1.33 Acres

Greenville Development Opportunity: 1.33 Acres

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

71 Salters Road, Greenville, SC 29607

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$285,000

0.74 Acres

Norman Land For Luxury Condos

APARTMENT HOUSE (UNDER 5 UNITS) • 3,200 SF

Value Estimation by Request

10342 Elizabeth St, Westchester, IL 60154-3945

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1626 Mannheim Rd

APARTMENT HOUSE (UNDER 5 UNITS) • 2,848 SF

Value Estimation by Request

1626 Mannheim Rd, Westchester, IL 60154-4319

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APARTMENT HOUSE (UNDER 5 UNITS) • 3,116 SF

Value Estimation by Request

10419 Waterford Dr, Westchester, IL 60154-3538

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203 5th E Vly Ln

APARTMENT HOUSE (UNDER 5 UNITS) • 3,280 SF

Value Estimation

$645,000

203 5th E Vly Ln, Arlington Heights, IL 60004

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1204 Rand Rd

APARTMENT HOUSE (UNDER 5 UNITS) • 4,290 SF

Value Estimation

$2,000,000

1204 Rand Rd, Arlington Heights, IL 60004-2078

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1636 Mannheim Rd

APARTMENT HOUSE (UNDER 5 UNITS) • 2,948 SF

Value Estimation

$525,000

1636 Mannheim Rd, Westchester, IL 60154-4319

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208 Dunton Ave

APARTMENT HOUSE (UNDER 5 UNITS) • 3,260 SF

Value Estimation

$530,000

208 Dunton Ave, Arlington Heights, IL 60004-5958

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1657 Mannheim Rd

APARTMENT HOUSE (UNDER 5 UNITS) • 2,752 SF

Value Estimation by Request

1657 Mannheim Rd, Westchester, IL 60154-4369

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Springfield, IL Apartment Buildings Investment Opportunities Market Analysis

Explore 72 apartment buildings for sale in Springfield, IL, showcased through 7 active listings on our real estate platform. These investment opportunities span a total of 4,500 square feet of properties for sale, with an estimated market value of $399,900.

Sale prices for two-family homes in Springfield, IL start at $399,900, averaging $399,900, and reaching up to $399,900 — 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

Property Size Breakdown

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

Demographics Overview

Population 138K

Population Growth (5Y) +1.9%

Median Household Income $70,314

College Educated 9.5%

High-Yield Neighborhoods for Strategic Investment

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

Neighborhood	Average Price
62703	$495K
62702	$574.9K

Taxes & Financing

Tax Rate (average for all types) 8.64%

Average Loan-to-Value 65.0%

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Springfield, IL Apartment Buildings for Sale

Six-Unit Apartment Building with Upgrades

Updated six-unit apartment building with expansion potential in Springfield, IL.

Springfield Multifamily Investment Opportunity

Fully occupied 10-unit property on 6.5 acres with development potential.

Springfield Multifamily Investment Opportunity

Springfield Multifamily Investment Opportunity

Historic Ridgely Building Redevelopment Opportunity

Springfield Multifamily Investment Opportunity

Arlington Heights Condo with Amenities

Opportunities in Nearby Cities

Pekin Multifamily Property Near Lake

Mixed-Use Property with Income Potential

Decatur Multifamily Investment Opportunity

Pekin Commercial Building with Apartments

Potential Development Sites for Consideration

Prime Development Land, Springfield MO

Asheville Development Opportunity: 5.94 Acres

Greenville Development Opportunity: 1.33 Acres

Norman Land For Luxury Condos

Off-Market Properties in Springfield, IL

1941 Mannheim Rd

1346 Norfolk Ave, Unit I

805 Wilke Rd

10342 Elizabeth St

1626 Mannheim Rd

1626 Mannheim Rd

1520 Arlington Hts Rd

1520 Arlington Hts Rd

1520 Arlington Hts Rd

1636 Mannheim Rd

1 Vail Ave

10419 Waterford Dr

203 5th E Vly Ln

1204 Rand Rd

1636 Mannheim Rd

208 Dunton Ave

1657 Mannheim Rd

Springfield, IL Apartment Buildings Investment Opportunities Market Analysis

Top Commercial Asset Segments

Property Size Breakdown

Demographics Overview

High-Yield Neighborhoods for Strategic Investment

Taxes & Financing

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