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    703 S 8Th St Springfield, IL 62703

    For Sale
    $99,500

    Commercial - Springfield, IL

    Property size:
    8,644 SF
    Days on Market:
    8
    Last Refresh:
    Dec 15 at 4:06 am

    Property Features for 703 S 8Th St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    H3
    APN
    14-34.0-190-094
    Size
    8,644 SF

    Utilities

    Heating system
    Hot Water (Heating)

    Building Details

    Year built
    1864
    Flooring type
    Wood
    Building materials
    Brick, Vinyl Siding
    Roof type
    Composition, Flat, Shingle
    Architectural style
    Other

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

    Listing agent Crystal Germeraad (217) 787-7215 License #475161193

    Listing date Dec 8, 2025

    MLS# CA1039673 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 Springfield Mixed-Use Opportunity

    Located one block from Lincoln's Home and the Elijah Iles House, this three-story solid brick Italianate-style building, known as the historic Dr. Henry Wohlgemuth House (ca. 1864), presents an investment opportunity to restore a piece of Downtown Springfield’s architectural history. The property, with a size of 8644 square feet, is in distressed condition and requires an extensive full interior restoration and cleanout. The main level includes two expansive units with soaring ceilings, suitable for multi-family residential or mixed-use commercial conversion. The second floor mirrors this layout with two additional large units. The third floor offers four efficiency rooms, the original "maid's quarters", each previously equipped with a kitchenette and toilet, suitable for future short-term rentals, studio apartments, or flexible workspace. A full, unfinished basement provides ample storage. The property is zoned H3. It is located in Springfield, Illinois, near one of America's most treasured landmarks.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Heritage Development Co General Contractor

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office 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
    -89.64551871
    Latitude
    39.794700051

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    FAQs

    What type of property is this?
    Mixed-use property - Historic building near Lincoln's Home, ideal for restoration.
    Where is this mixed-use property located?
    The property is located at 703 S 8Th St Springfield, IL.
    What is the asking price?
    The asking price for this property is $99,500.
    What are key features of this property?
    This property features: - Historic Italianate-style building (ca. 1864) offering a unique restoration opportunity.; - Prime downtown location, one block from Lincoln's Home and the Elijah Iles House.; - Grand scale structure with generous size and massive potential for multi-family, mixed-use, or short-term rentals.
    (217) 787-7215
    Request Owner's contact information
    703 S 8Th St 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
    703 S 8Th St Springfield, IL 62703
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