Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    700 W Jefferson St Springfield, IL 62702

    For Sale
    $215,000

    Lots & Land - Springfield, IL

    Lot size:
    0.59 Acres
    Days on Market:
    92
    Last Refresh:
    Dec 5 at 1:06 am

    Property Features for 700 W Jefferson St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    14-28.0-382-031
    Exterior features
    Corner Lot, Level
    Lot size
    0.59 Acres

    Building Details

    Architectural style
    Other

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

    Listing agent Melissa Grady (217) 787-7000 License #475114067

    Listing date Sep 5, 2025

    MLS# CA1035172 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

    Corner Lot with Liquor License

    This commercial lot, located at the corner of West Jefferson and Walnut Streets in Springfield, Illinois, benefits from high visibility with over 23,000 cars passing by daily. The 0.59-acre (25,666 square feet) lot is zoned B1 and includes a liquor license that is permanently attached to the parcel. Previously used for restaurants, the site is suitable for various ventures, including a new restaurant, video gaming facility, package liquor store, or coffee shop. Utilities such as electric, water, and gas are available on-site. The property features two entrances, providing convenient access from both Walnut Street and West Jefferson Street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sgt. Peppers Cafe Restaurant

    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
    -89.663962
    Latitude
    39.803053

    Nearby Similar for Sale

    • $150,000
      Pending

      Mixed-Use Property with Income Potential

      Mixed-use property with commercial space, apartments, and income potential.
      612 South Grand Ave, Springfield, IL 62704
      View Details
    • $550,000
      5,056 SF

      Springfield Bar and Restaurant For Sale

      Near west side bar and restaurant with gaming room.
      1577 W Wabash Ave, Springfield, IL 62704
      View Details
    • $375,000
      Pending

      Updated Commercial Space in Springfield

      Updated 5,227 sq ft commercial space with high visibility.
      2445 S 5Th St, Springfield, IL 62703
      View Details
    • $795,000
      10,000 SF

      Well-Maintained Office Building For Sale

      Move-in ready office building with ample parking in Springfield, IL.
      801 S Durkin Dr, Springfield, IL 62704
      View Details
    • $199,900
      Pending

      Springfield Commercial Property Near Capitol

      Corner property near State Capital with conversion potential.
      116 E Edwards St, Springfield, IL 62704
      View Details
    • $399,000
      Pending

      Springfield Residential Income Property

      Six-unit apartment building near downtown Springfield.
      1001 S 1St St, Springfield, IL 62704
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial lot with high traffic and existing liquor license.
    Where is this commercial land located?
    The property is located at 700 W Jefferson St Springfield, IL.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: - High traffic corner location with over 23,000 cars per day.; - Zoned B1 with a liquor license that follows the parcel forever.; - Utilities on site: electric, water, and gas are available.
    (217) 787-7000
    Request Owner's contact information
    700 W Jefferson St Springfield, IL 62702
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    700 W Jefferson St
    Springfield, IL 62702
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    700 W Jefferson St Springfield, IL 62702
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.