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    427 Monroe St Springfield, IL 62701

    For Sale
    $650,000

    Commercial - Springfield, IL

    Property size:
    18,000 SF
    Lot size:
    0.50 Acres
    Days on Market:
    26
    Last Refresh:
    Dec 15 at 9:06 am

    Property Features for 427 Monroe St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    S-3
    APN
    14340107051
    Size
    18,000 SF
    Lot size
    0.50 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Flooring type
    Carpet, Tile
    Building materials
    Brick, Frame
    Roof type
    Membrane
    Architectural style
    Other

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

    Listing agent Curtis Tillett (217) 787-7000 License #475089421

    Listing date Nov 20, 2025

    MLS# CA1034952 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

    Downtown Springfield Commercial Space

    This commercial property is located on a prime corner in downtown Springfield, at the intersection of 5th and Monroe, placing it in the heart of the city. The location is approximately 3 blocks from the State Capitol and Amtrak station, and within 1-2 blocks of the post office and three banks. Multiple restaurants and gift shops are also nearby. The building is approximately 1 mile from Memorial Medical Center, St. John’s Hospital, and other facilities in the Medical District. The property includes office space and a ground-level bar/restaurant. The available third-floor suites are suitable for various professionals, including lobbyists, attorneys, architects, and accountants. The bar/restaurant space offers 6,000 square feet of entertainment area, featuring an open floor plan, two bars, a stage, and two outdoor seating areas. Note that the bar fixtures must be negotiated separately with the current tenant. The property has a lot size of 0.5 acres and a total property size of 18,000 square feet. Other reputable tenants are in the building.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Brown Management Corp. Business Management Consultant Coldwell Banker Commercial ... Commercial Real Estate Agency Upper Echelon Marketing ... Marketing Agency Veloxinet Internet Service Provider Kristi Mitchell Photography Photographer

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Law Firm Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.649721
    Latitude
    39.799663

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    FAQs

    What type of property is this?
    Office space - Prime corner location in downtown Springfield with office and restaurant/bar.
    Where is this office space located?
    The property is located at 427 Monroe St Springfield, IL.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Prime downtown Springfield location at a prominent corner.; - Ground level bar/restaurant space available with **6,000 sq. ft. of entertainment space, 2 bars, a stage, and 2 outdoor seating areas.**; - Ideal for professionals needing downtown office space (lobbyist, attorney, architect, accountant, etc.).
    (217) 787-7000
    Request Owner's contact information
    427 Monroe St Springfield, IL 62701
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    Springfield, IL 62701
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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
    427 Monroe St Springfield, IL 62701
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