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    541 E Black Ave Springfield, IL 61702

    New
    For Sale
    $399,000

    Residential Income - Springfield, IL

    Property size:
    15,054 SF
    Lot size:
    1.80 Acres
    Days on Market:
    1
    Last Refresh:
    Dec 8 at 9:06 pm

    Property Features for 541 E Black Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-3B
    APN
    14-22.0-326-065
    Parking
    10
    Parking features
    Guest
    Interior features
    Elevator, Recreation Room
    Exterior features
    Level, Sloped, Rec Area
    Accessibility
    Accessible Elevator Installed
    Size
    15,054 SF
    Lot size
    1.80 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Number of units
    26
    Building materials
    Wood Siding
    Roof type
    Composition, Shingle
    Architectural style
    Other

    RMP of Springfield,LLC dba Remax Professionals (217) 787-7215 [email protected]

    Listing agent Roni Mohan (217) 787-7215 License #475121806

    Listing date Dec 8, 2025

    MLS# CA1033618 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

    Historic Multifamily Building in Springfield

    This historic building, with approximately 15,000 square feet of space, is the birthplace of Marjorie Merriweather Post. Formerly used for over 100 years as a ladies dormitory by The Kings Daughters Organization, the building contains 26 studio units, each approximately 538 square feet, with full baths. It also features a common area, a communal commercial kitchen, a partial basement, and an elevator. Situated on a 1.8-acre lot overlooking the Lincoln Park area neighborhood, the property is conveniently located near downtown, the hospitals, and the Brinkerhoff and Benedictine/Ursuline complex. The building has a new roof installed in 2022/23 and is zoned R-3B. This residential income property presents many possibilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant 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
    -89.647708
    Latitude
    39.822603

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    FAQs

    What type of property is this?
    Apartment building - 15,000 sqft historic building with 26 studio units for sale.
    Where is this apartment building located?
    The property is located at 541 E Black Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: - Historic 15,000 sqft building: Birthplace of Marjorie Merriweather Post.; - 26 studio units (approx 538 sqft each) with full baths.; - New roof installed in 2022/23.
    (217) 787-7215
    Request Owner's contact information
    541 E Black Ave Springfield, IL 61702
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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
    541 E Black Ave Springfield, IL 61702
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