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    520 S Grand Ave Springfield, IL 62703

    Sponsored
    For Sale
    $725,000

    COMMERCIAL - Springfield, IL

    Days on Market:
    3
    Last Refresh:
    Jan 7 at 3:06 am

    Property Features for 520 S Grand Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    22-03.0-101-009

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Cooling system
    Wall/Window Unit(s), Multi Units, Window Unit(s)

    Building Details

    Floors in Building
    3
    Number of units
    12
    Flooring type
    Tile, Carpet
    Building materials
    Brick, Frame

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

    Listing agent Debra Sarsany

    Listing date Jan 5, 2026

    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

    Furnished Historic Apartment Building

    This well-maintained 3-story historic brick apartment building presents an investment opportunity. The property features 12 fully furnished 1-bedroom units, each move-in ready with a complete furniture package including living room and bedroom sets, kitchen essentials, and flat-screen TVs. This makes the property suitable for both long-term tenants and short-term rental opportunities. A reliable boiler system provides consistent heat throughout the building, while each unit is equipped with a window A/C for year-round comfort. Newer windows and a roof replacement completed around 2016 contribute to long-term durability and energy efficiency. Several apartments received recent upgrades in 2025, including new furnishings, refreshed bathroom vanities, modern cabinetry, updated appliances, and refinished tub/showers. The property is located in Springfield, IL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Springfield Sunsent Solar ... Solar Energy System Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.644507
    Latitude
    39.786623

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    FAQs

    What type of property is this?
    Apartment building - Turnkey investment opportunity with 12 furnished units in Springfield.
    Where is this apartment building located?
    The property is located at 520 S Grand Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: - Listed under appraised value, presenting an immediate investment advantage.; - Turnkey investment with 12 fully furnished 1-bedroom units, ready for immediate rental income.; - Recent upgrades in select units (2025) including new furnishings, modern cabinetry, updated appliances, and refreshed bathrooms.
    (217) 313-0580
    Request Owner's contact information
    520 S Grand Ave Springfield, IL 62703
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    Springfield, IL 62703
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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
    520 S Grand Ave Springfield, IL 62703
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