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    19478 Springfield Rd Groveland, IL 61535

    Sponsored
    For Sale
    $569,000

    MULTI_FAMILY - Groveland, IL

    Days on Market:
    5
    Last Refresh:
    Jan 5 at 2:06 pm

    Property Features for 19478 Springfield Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    05-05-22-405-001
    Parking
    25

    Utilities

    Heating system
    Forced Air
    Cooling system
    Zoned, Central Air
    Water source
    Public

    Building Details

    Year built
    1979
    Number of units
    5
    Building materials
    Brick Partial, Wood Siding
    Roof type
    Shingle

    R & R REALTY (309) 696-7628 [email protected]

    Listing agent Tonya Crawford

    Listing date Jan 1, 2026

    MLS# PA1257871 Listing URL

    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.

    Overview

    Groveland Multifamily and Commercial Building

    This property features a five-unit multifamily building with commercial space. The building is located in a desirable location and generates a yearly gross rental income of $67,560. The property benefits from long-term tenants and low overhead. Numerous upgrades have been completed within the last 12 months, including new paint, flooring, carpet, lighting, furnaces, AC units, and a water heater.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Hair Salon Building Supply Auto Repair Shop Hotel & Motel Bar & Pub HVAC Service Storage Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Groveland
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.533742
    Latitude
    40.604303

    Nearby Similar for Sale

    • New
      $569,000
      0.44 Acres

      Multifamily and Commercial Space Building

      Five-unit multifamily and commercial space building with long-term tenants.
      19478 Springfield Rd, Groveland, IL 61535
      View Details

    FAQs

    What type of property is this?
    Apartment building - Five-unit multifamily property with commercial space and long-term tenants.
    Where is this apartment building located?
    The property is located at 19478 Springfield Rd Groveland, IL.
    What is the asking price?
    The asking price for this property is $569,000.
    What are key features of this property?
    This property features: - High yearly gross rental income of $67,560.; - Recent upgrades including paint, flooring, carpet, lighting, furnaces, AC units and water heater.; - 5 unit multifamily & commercial space building.
    (309) 696-7628
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    19478 Springfield Rd Groveland, IL 61535
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    19478 Springfield Rd Groveland, IL 61535
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