Mixed-Use Apartment and Retail
For Sale
$565,000
19478 SPRINGFIELD Road, Groveland, IL 61535
MULTI_FAMILY - Groveland, IL
Days on Market444
Property Features for 19478 SPRINGFIELD Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
5
Full bathrooms
2
Half bathrooms
3
Rooms
Bedroom 1, Bathroom 4, Bedroom 2, Bathroom 2, Bathroom 5, Bathroom 3, Bathroom 1
Parking
25
Subdivision
Pine Hill
Lot features
Level
High school
Morton
Directions
Springfield Road to Groveland to 4 way stop signs - sits on corner.
Standard status
Active
APN
05-05-22-405-001
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
Heating system
Forced Air
Cooling system
Central Air, Zoned
Water source
Public
Building Details
Year built
1979
Number of units
5
Building materials
Brick Partial, Wood Siding
Roof type
Shingle
Listing Agency:
R & R Realty
(309) 696-7628
Listed By:
Tonya Crawford · License #471009760
(309) 696-7628
Added: May 13, 2025
Changed: Jul 29
Last Checked: Jul 30 at 12:06PM
MLS# PA1257871
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 property is fully occupied and currently configured with two residential apartments and three commercial units. The offering is described as turn-key, with long-term tenants and long-term leases in place.
The current financial highlights provided with the listing include an in-place NOI of $51,216 and gross income of $62,556, supporting a stated 9.07% cap rate. The property address is 19478 Springfield Road in Groveland, Illinois (Tazewell County).
For investors and owner-operators looking for a stabilized, income-producing building with both residential and commercial components, this layout provides multiple unit types under one roof.
The current financial highlights provided with the listing include an in-place NOI of $51,216 and gross income of $62,556, supporting a stated 9.07% cap rate. The property address is 19478 Springfield Road in Groveland, Illinois (Tazewell County).
For investors and owner-operators looking for a stabilized, income-producing building with both residential and commercial components, this layout provides multiple unit types under one roof.
Key Highlights
- 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
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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?
Apartment building - Newly remodeled, fully occupied building with two residential apartments and three commercial units.
Where is this apartment building 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: 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
