Back to Search

Six-Unit Residential Income Building

524 E Ridgely Avenue Springfield, IL 62702

For Sale

$250,000

MULTI_FAMILY - Springfield, IL

For Sale

$250,000

MULTI_FAMILY - Springfield, IL

Added:: May 11, 2026
Days on Market:: 62
Last Refresh:: Jul 11 at 2:06 pm

Property Features for 524 E Ridgely Avenue

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 4
Bathrooms: 8
Rooms: Bathroom 3, Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 7, Bathroom 5, Bathroom 6, Bathroom 8, Bedroom 1, Bathroom 4, Bedroom 2, Bedroom 4
Parking: 6
Standard status: Active
APN: 14220326048

Taxes and HOA fees

Tax Year: 2026
Tax Description: See tax records
Tax Annual Amount: 6625

Utilities

Heating system: Forced Air
Cooling system: Central Air
Water source: Public

Building Details

Year built: 1983
Number of units: 6
Building materials: Vinyl Siding, Wood Siding
Roof type: Shingle

Listing agent Jami Winchester License #475109074

Listing office The Real Estate Group, Inc. 3701 West Wabash, Springfield, IL

Listing date May 11, 2026

MLS# CA1043636 Listing URL

Investment Insights

Based on property information with market context.

This for-sale residential income property includes two buildings totaling six units, consisting of one four-plex and one duplex. The property is fully occupied and generates total gross monthly income of $3,850. Recent exterior improvements include a new roof layover installed in August 2024 and new siding on the four-plex.

The property is located at 524 E Ridgely Avenue in Springfield, Illinois (62702). Tenants pay for all utilities, while the owner pays for garbage.

The current configuration provides two separate structures under one ownership for a combined six-unit rental portfolio.

Key Highlights

6‑unit rental property: one 4‑plex and one duplex, all fully occupied
Total gross monthly income of $3,850
New roof layover installed August 2024

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Similar For Sale Nearby

$975,000

1,750 SF

Versatile Commercial Property, Springfield, IL

High-visibility commercial property with multiple income streams on 3.92 acres.

3100 E COOK Street, Springfield, IL 62703-0000

View Details
$2,500,000

Springfield Strip Mall For Sale

Strip mall in high-traffic location with reliable tenants.

2940 CONSTITUTION Drive, Springfield, IL 62704

View Details
$549,900

Mixed-Use Building with 8-Car Parking

Three storefronts plus office and apartment floors, connected by elevator and stairs, with an approximately 8-car parking lot.

115 & 117 N 6TH Street, Springfield, IL 62701

View Details
$749,999

15,000 SF

Multi-Purpose Building with Basketball Court

15,000 sq ft multi-purpose building with many potential uses.

1200 N Bradfordton Road, Springfield, IL 62711

View Details
$2,600,000

Warehouse & Flex Distribution Facility

Fenced warehouse flex space with refreshed office, 61 parking spaces, and recent warehouse lighting and safety upgrades.

3350 Koke Mill Road, Springfield, IL 62711

View Details
$460,000

7,200 SF

Versatile Commercial Property in Springfield

7,200 sq ft commercial property with office and warehouse space.

3112 NORMANDY Road, Springfield, IL 62703

View Details
$2,500,000

Indoor Trampoline Entertainment Facility

Well-known trampoline park with arcade, party rooms, offices, and a multi-use air court for active recreation.

3454 LIBERTY Drive, Springfield, IL 62704

View Details
$650,000

Well-Maintained Office Building

Move-in ready office building with private offices, conference rooms, and ample on-site parking.

801 S Durkin Drive, Springfield, IL 62704

View Details
$6,500,000

Class A Office Building with Elevator Access

Brick-and-steel office building with multiple elevator access, floor-level climate control, and on-site parking for 173 vehicles.

400 W MONROE Street, Springfield, IL 62704

View Details
$675,000

Flex Warehouse with Overhead Door

Warehouse building includes overhead door access and leased commercial kitchen space, with remainder suited for office or warehouse use.

4753 Jeffory Street, Springfield, IL 62703

View Details
$460,000

15,000 SF

Multi-Unit Office and Retail Building

A well-maintained mixed-use building with office and retail space, updated improvements, and parking for more than 50 vehicles.

3111 NORMANDY Drive, Springfield, IL 62703-0000

View Details
$1,330,000

15,000 SF

Downtown Springfield Commercial Building For Sale

Well-kept building in ideal downtown location with leased floors.

600 E ADAMS Street, Springfield, IL 62701

View Details

For sale
Multifamily properties
IL
Springfield
62702
524 E Ridgely Avenue

What type of property is this?

Multifamily property - Two buildings—a 4-plex and a duplex—are fully occupied with tenant-paid utilities.

Where is this multifamily property located?

The property is located at 524 E Ridgely Avenue Springfield, IL.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: 6‑unit rental property: one 4‑plex and one duplex, all fully occupied; Total gross monthly income of $3,850; New roof layover installed August 2024

524 E Ridgely Avenue Springfield, IL 62702

MULTI_FAMILY - Springfield, IL

Property Features for 524 E Ridgely Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Versatile Commercial Property, Springfield, IL

Springfield Strip Mall For Sale

Mixed-Use Building with 8-Car Parking

Multi-Purpose Building with Basketball Court

Warehouse & Flex Distribution Facility

Versatile Commercial Property in Springfield

Indoor Trampoline Entertainment Facility

Well-Maintained Office Building

Class A Office Building with Elevator Access

Flex Warehouse with Overhead Door

Multi-Unit Office and Retail Building

Downtown Springfield Commercial Building For Sale

FAQs