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    2040 Hill Meadows Dr Springfield, IL 62702

    For Sale
    $230,400

    Spacious office building, needs renovation, 1.46 acres.

    Property size:
    24,600 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This 24,600 square foot, two-level office building located at 2040 Hill Meadows Drive, Springfield, IL, presents a unique investment opportunity. Situated on a 1.46-acre lot, the property boasts a tranquil setting overlooking Timberbrook Park and its wooded surroundings. The exterior is constructed of split-faced concrete block, providing a durable and low-maintenance facade. Ample parking is available on-site for tenants and visitors. The interior features drop ceilings, though ceiling heights vary throughout the building. Convenient access is provided by a two-stop elevator and two interior staircases. Each floor includes two finished restrooms. The roof is relatively new, having been replaced approximately three years ago. It is important to note that the building is currently not showable due to mold contamination. The property is being sold "as-is, where-is, and with all faults," meaning the buyer assumes all responsibility for any necessary repairs or remediation. No representations or warranties are made regarding the functionality of any building systems. This presents a significant opportunity for a buyer willing to undertake a renovation project in a desirable location.

    Property Features for 2040 Hill Meadows Dr

    General Information

    Property type
    Other commercial real estate
    Square Feet
    24,600 SF
    Lot Size
    63,598 SF

    Building Details

    Year Built
    1985
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -89.68861
    Latitude
    39.80476

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    FAQs

    What type of property is this?
    Commercial real estate - Spacious office building, needs renovation, 1.46 acres.
    Where is this commercial real estate located?
    The property is located at 2040 Hill Meadows Dr Springfield, IL.
    What is the asking price?
    The asking price for this property is $230,400.
    Request Owner's contact information
    2040 Hill Meadows Dr Springfield, IL 62702
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    Springfield, IL 62702
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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
    2040 Hill Meadows Dr Springfield, IL 62702
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