500 E Monroe St Springfield, IL 62701
Twelve-story building suitable for office, retail, or multifamily redevelopment.
Type:Office
Property size:
57,185 SFPrice / SF:
$0.00/SF- Added:
- Apr 9, 2026
- Days on Market:
- 14
- Last Refresh:
- Apr 9 at 8:04 pm
Property Features for 500 E Monroe St
General Information
- Standard status
- Active
- Size
- 57,185 SF
- Property subtype
- Office
Building Details
- Year Built
- 1926
Listing agent Ian Grusd, CCIM, SIOR License #License(s): NJ: 9233895 (212) 430-5115
Listing office New York City Office (212) 430-5115
Listing date Apr 9, 2026
Source Marcusmillichap
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of New York City Office
Overview
Historic Ridgely Building Redevelopment Opportunity
The 12-story Ridgely Building, with a size of 57,185 square feet, presents an opportunity for renovation and re-tenanting with office and retail tenants, potentially including government tenants from the State of Illinois. Alternatively, the building could be repurposed into multifamily housing with ground-level retail. The city of Springfield reportedly needs available housing. Located in the historic Springfield Capital District, the building has been entirely vacated and closed to the public for safety reasons. A complete renovation to modern standards is anticipated, including the two elevators. This property offers the chance to acquire an asset in a prime location for a fraction of its replacement cost, potentially benefiting from accommodations from the State of Illinois.
Location Intelligence
Current Use by Public Records
Ridgely Building Managers ...
Construction Company
Salem Estates
Construction Company
Illinois Public Health ...
Charitable Organization
Job Training Bureau
Employment Agency
Student Assistance
State Government Office
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.659942
- Latitude
- 39.799578
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Twelve-story building suitable for office, retail, or multifamily redevelopment.
Where is this office building located?
The property is located at 500 E Monroe St Springfield, IL.
What is the asking price?
The asking price for this property is Off market.
What are key features of this property?
This property features: Opportunity to renovate/re‑tenant for office/retail or convert to multi‑family housing with retail.; Located in the historic Springfield Capital District.; Significant potential due to city's need for available housing.
