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Four-Unit Residential Income Property

1501 & 1505 S 5TH Street, Springfield, IL 62730

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Pending

$300,000

MULTI_FAMILY - Springfield, IL

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Contact an agent

Joshua Kruse

Real Estate License ID: 475144896

HighLights

Two independent duplex buildings built between 1915 and 1937
Unit 1501: 2‑bedroom main‑level unit with 1 bath plus upper‑level 2‑bedroom unit with private balcony
Unit 1505: 1‑bedroom main‑level unit and upper 1‑bedroom unit, with additional basement storage
Basements include workshop and laundry/storage space
Oversized detached garage 24x39 plus additional heated garage 30x47
Utilities/features include public water, natural gas forced‑air heat, and central air; brick and vinyl siding; shingle and rubber roof

Pending

$300,000

MULTI_FAMILY - Springfield, IL

Added:: May 11, 2026
Days on Market:: 57
Last Refresh:: Jul 6 at 4:06 pm

Property Features for 1501 & 1505 S 5TH Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 6
Bathrooms: 4
Rooms: Bathroom 3, Bedroom 3, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 1
Parking: 8
Parking features: Guest, Oversize
Basement: Unfinished, Full
Standard status: Pending
APN: 22-04.0-234-009

Taxes and HOA fees

Tax Year: 2025
Tax Description: GEO. CARPENTERS SUB PT E1/2 NE L 1 N 60' B 3 4-15-5
Tax Annual Amount: 8963

Utilities

Heating system: Forced Air, Natural Gas
Cooling system: Central Air
Water source: Public

Building Details

Year built: 1915
Number of units: 4
Building materials: Brick, Vinyl Siding
Roof type: Shingle, Rubber

We can help!

Contact an agent

Joshua Kruse

Listing agent Joshua Kruse License #475144896

Listing office The Real Estate Group, Inc. 3701 West Wabash, Springfield, IL

Listing date May 11, 2026

MLS# CA1043646 Listing URL

HighLights

Two independent duplex buildings built between 1915 and 1937
Unit 1501: 2‑bedroom main‑level unit with 1 bath plus upper‑level 2‑bedroom unit with private balcony
Unit 1505: 1‑bedroom main‑level unit and upper 1‑bedroom unit, with additional basement storage
Basements include workshop and laundry/storage space
Oversized detached garage 24x39 plus additional heated garage 30x47
Utilities/features include public water, natural gas forced‑air heat, and central air; brick and vinyl siding; shingle and rubber roof

Overview

This property includes two independent duplex buildings built between 1915 and 1937, now operating as separate duplex rental units. Building 1501 features a main-level 2-bedroom, 1-bath unit with an office plus kitchen, dining, and living room, along with an upper-level 2-bedroom unit with living room, kitchen, bathroom, and a private balcony. The basement in 1501 includes a workshop, ample storage, and laundry space. Building 1505 offers a main-floor 1-bedroom unit with living room, dining room, kitchen, and a full bath, and an upper-level 1-bedroom unit with living room and kitchen, with additional storage in the basement.

The property is located on South 5th Street, just outside historic downtown Springfield, with convenient access to I-55 and I-72 and a range of nearby shopping, restaurants, and grocery options.

For buyers seeking income through four distinct rental units, this setup provides separate duplex configurations within one offering. The buildings were previously marketed as commercial office space, which may appeal to tenants or operators considering a future conversion back to office use, depending on requirements and approvals.

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

Map
Local Demand

City: Springfield
County: Sangamon
State: Illinois
Longitude: -89.650307
Latitude: 39.784673

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For sale
Quadplexes
IL
Springfield
62730
1501 & 1505 S 5TH Street

What type of property is this?

Quadplex - Two duplex buildings offer four rental units with the option to reconfigure back to office space.

Where is this quadplex located?

The property is located at 1501 & 1505 S 5TH Street Springfield, IL.

What is the asking price?

The asking price for this property is $300,000.

What are key features of this property?

This property features: Two independent duplex buildings built between 1915 and 1937; Unit 1501: 2‑bedroom main‑level unit with 1 bath plus upper‑level 2‑bedroom unit with private balcony; Unit 1505: 1‑bedroom main‑level unit and upper 1‑bedroom unit, with additional basement storage

1501 & 1505 S 5TH Street, Springfield, IL 62730

MULTI_FAMILY - Springfield, IL

Property Features for 1501 & 1505 S 5TH Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Versatile Commercial Property, Springfield, IL

Spacious Office Building, Springfield, IL

Multi-Purpose Building with Basketball Court

Warehouse & Flex Distribution Facility

Versatile Commercial Property in Springfield

Springfield Industrial Park Warehouse Building

Springfield Strip Mall For Sale

Indoor Trampoline Entertainment Facility

Well-Maintained Office Building

Class A Office Building with Elevator Access

Multi-Unit Office and Retail Building

Downtown Springfield Commercial Building For Sale

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