84-Unit Apartment
For Sale
Contact for pricing
3117 Butler St, Springfield, IL 62703
Apartment community with two- and three-bedroom residences and a documented decontrol period nearing completion.
Property SizeContact for details
Days on Market143
Property Features for 3117 Butler St
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Multifamily Units
84
Listing Agency:
Northmarq Capital, LLC
Listed By:
Alex Malzone · License #MN
Source:
Crexi
Added: Apr 12
Changed: Aug 31
Last Checked: Aug 30 at 7:52PM
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 Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
Spring Meadows is an apartment community at 3117 Butler St in Springfield, Illinois, with 84 two- and three-bedroom units. Each residence is identified at 1,079 square feet, providing a consistent unit profile across the property.
The property completed the Qualified Contract process in October 2019 and had 12 months remaining in its three-year Decontrol period at the time of the listing. Following that period, ownership could pursue market-rate leasing if desired, subject to applicable requirements.
The property completed the Qualified Contract process in October 2019 and had 12 months remaining in its three-year Decontrol period at the time of the listing. Following that period, ownership could pursue market-rate leasing if desired, subject to applicable requirements.
Key Highlights
- 84 apartment units with two- and three‑bedroom floor plans
- Units identified at 1,079 SF
- Qualified Contract process completed in October 2019
Property Analytics
Current Use
Lease Details
84
Residential units
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Explore this area
Business Placement
Demographics for 62703, IL
28,344
Population
14,320
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
85%
High-School Grad
14.9 sq mi
ZIP Area
1,902
Density / Sq Mi
$44,580
Median Household Income
$36,345
Median Earnings
$971
Median Rent
$93,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment community with two- and three-bedroom residences and a documented decontrol period nearing completion.
Where is this apartment building located?
The property is located at 3117 Butler St Springfield, IL.
What are key features of this property?
This property features: 84 apartment units with two- and three‑bedroom floor plans; Units identified at 1,079 SF; Qualified Contract process completed in October 2019
