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    2040 W Iles Ave Springfield, IL 62704

    Picture of Office buildings at W Iles Ave 2040, Springfield, IL
    Pending
    For Sale
    $1,200,000

    Commercial - Springfield, IL

    Property size:
    12,300 SF
    Days on Market:
    34
    Last Refresh:
    Dec 6 at 4:06 pm

    Property Features for 2040 W Iles Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    APN
    22-07.0-227-027
    Size
    12,300 SF

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1996
    Flooring type
    Carpet, Tile
    Building materials
    Brick, Frame
    Roof type
    Asphalt
    Architectural style
    Other

    The Real Estate Group, Inc. (217) 787-7000 [email protected]

    Listing agent Bill Marriott (217) 787-7000 License #475116051

    Listing date Nov 3, 2025

    MLS# CA1040312 Listing URL

    Copyright © 2025 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

    Springfield Office Building For Sale

    This office building, located in the Montvale Business Park in Springfield, Illinois, is available for purchase. The building is currently occupied by two tenants, with one suite available for a new tenant. The property has been well maintained by its original owner and features a new roof installed in 2019. The building has a total size of 12,300 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    HDR Engineering Consultant Professional Business Services ... Accountant FedEx Drop Box Mailing Service Home Instead Home Health Care Service

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.691915
    Latitude
    39.769442

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    FAQs

    What type of property is this?
    Office building - Office building in Montvale Business Park with income potential.
    Where is this office building located?
    The property is located at 2040 W Iles Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: - 8.0% Cap Rate; - Located in popular Montvale Business Park; - Well-maintained building with new roof (2019)
    (217) 787-7000
    Request Owner's contact information
    2040 W Iles Ave Springfield, IL 62704
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    Springfield, IL 62704
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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
    2040 W Iles Ave Springfield, IL 62704
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