Newly Remodeled Mixed-Use
For Sale
$565,000
19478 SPRINGFIELD Road, Groveland, IL 61535
COMMERCIAL - Groveland, IL
Lot Size0.44 Acres
Days on Market455
Property Features for 19478 SPRINGFIELD Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
comm
Parking
25
Directions
Springfield Road to Groveland to 4 way stop signs - sits on corner.
Standard status
Active
APN
05-05-22-405-001
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SEC 22 T25N R4W PINE HILL SUBD EXT 1 LOT 1 SE 1/4
Tax Annual Amount
7260
Legal Description
SEC 22 T25N R4W PINE HILL SUBD EXT 1 LOT 1 SE 1/4
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1979
Floors in Building
2
Number of units
5
Flooring type
Tile, Carpet, Concrete
Building materials
Brick, Vinyl Siding, Wood Siding, Frame
Roof type
Composition
Listing Agency:
R & R Realty
(309) 696-7628
Listed By:
Tonya Crawford · License #471009760
(309) 696-7628
Added: May 2, 2025
Changed: Jul 29
Last Checked: Jul 30 at 12:06PM
MLS# PA1257603
Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This newly remodeled mixed-use building is fully occupied and offers a combined residential and commercial income stream. The property includes two residential apartments and three commercial units, with long-term tenants in place under long-term leases.
The offering is located at 19478 Springfield Road in Groveland, Illinois (Tazewell County). Public remarks indicate an in-place NOI of $51,216 and gross income of $62,556, and cite a 9.07% cap rate.
From a tenant/income standpoint, the configuration provides multiple units across both residential and commercial spaces within one property, supporting a turnkey presentation for prospective buyers.
The offering is located at 19478 Springfield Road in Groveland, Illinois (Tazewell County). Public remarks indicate an in-place NOI of $51,216 and gross income of $62,556, and cite a 9.07% cap rate.
From a tenant/income standpoint, the configuration provides multiple units across both residential and commercial spaces within one property, supporting a turnkey presentation for prospective buyers.
Key Highlights
- Mixed‑use building with 2 residential apartments and 3 commercial units
- Fully occupied with long‑term tenants and long‑term leases
- In‑place NOI of $51,216 and gross income of $62,556
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 61535, IL
1,748
Population
666
Households
2.6
Avg Household Size
44
Median Age
36%
College-Educated
90%
High-School Grad
7.4 sq mi
ZIP Area
236
Density / Sq Mi
$138,594
Median Household Income
$64,654
Median Earnings
$222,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Fully occupied mixed-use property with two apartments and three commercial units, supported by long-term tenants and leases.
Where is this multifamily property located?
The property is located at 19478 SPRINGFIELD Road Groveland, IL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Mixed‑use building with 2 residential apartments and 3 commercial units; Fully occupied with long‑term tenants and long‑term leases; In‑place NOI of $51,216 and gross income of $62,556
