Fully Occupied Community Shopping
For Sale
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1812 Adlai Stevenson Drive, Springfield, IL 62703
32,080-square-foot community retail center in Springfield with 10 long-term tenants and below-average in-place rents.
Property Size32,080 SF
Lot Size2.35 Acres
Price / SF$43.33
Days on Market68
Property Features for 1812 Adlai Stevenson Drive
General Information
Standard status
Active
Size
32,080 SF
Total Parking Spaces
120
Lot size
2.35 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Gross
Net Operating Income
$141,388
Building Details
Year Built
1956
Units
10
Tenancy
Multi
Listing Agency:
Marcus & Millichap
(314) 889-2500
Listed By:
Alex Perez · License #IL 475199830
Source:
Crexi
Added: Jun 12
Changed: Aug 14
Last Checked: Aug 14 at 7:04AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Laketown Shopping Center is a 32,080-square-foot, multi-tenant community retail property built in 1956, situated on a 2.35-acre site. The property is fully occupied and features a tenant mix spanning fitness, food and beverage, personal services, office, and entertainment uses. The current roster includes 10 tenants, with four long-standing operators representing over 81% of the total GLA.
The center is located in a dense, infill Springfield corridor in central Illinois. BLH Computers has anchored the property for more than 26 years, occupying 12,080 square feet (nearly 38% of total GLA). Progressive has operated for more than 24 years in a 4,800-square-foot space. Tracey & Heather Dance Synergy occupies 4,500 square feet, and Eric Anderson-Games occupies 4,600 square feet.
From a leasing and income perspective, the property has 100% occupancy with in-place rents averaging $6.79 per square foot. Lucy’s Place (Suite 6) provides an in-place market rent reference point, currently paying $20.87 per square foot under a long-term lease with annual 2% escalations. With long-tenured occupancy and multiple tenants positioned to roll over leases over time, the asset presents a stabilized operating base with room for rents to move closer to the observed in-place market level as leases renew.
The center is located in a dense, infill Springfield corridor in central Illinois. BLH Computers has anchored the property for more than 26 years, occupying 12,080 square feet (nearly 38% of total GLA). Progressive has operated for more than 24 years in a 4,800-square-foot space. Tracey & Heather Dance Synergy occupies 4,500 square feet, and Eric Anderson-Games occupies 4,600 square feet.
From a leasing and income perspective, the property has 100% occupancy with in-place rents averaging $6.79 per square foot. Lucy’s Place (Suite 6) provides an in-place market rent reference point, currently paying $20.87 per square foot under a long-term lease with annual 2% escalations. With long-tenured occupancy and multiple tenants positioned to roll over leases over time, the asset presents a stabilized operating base with room for rents to move closer to the observed in-place market level as leases renew.
Key Highlights
- 32,080‑SF community retail center at 1800 Stevenson Drive in Springfield, IL.
- Fully occupied, multi‑tenant center with 10 tenants spanning fitness, food & beverage, personal services, office, and entertainment.
- Built in 1956 and located on a 2.35‑acre site in a dense Springfield corridor.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Midwest region
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Similar Off Market Nearby
- Laketown Barber Shop — 1812 Adlai Stevenson Dr, Springfield, IL 62703
Frequently Asked Questions
What type of property is this?
Shopping center - 32,080-square-foot community retail center in Springfield with 10 long-term tenants and below-average in-place rents.
Where is this shopping center located?
The property is located at 1812 Adlai Stevenson Drive Springfield, IL.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 32,080‑SF community retail center at 1800 Stevenson Drive in Springfield, IL.; Fully occupied, multi‑tenant center with 10 tenants spanning fitness, food & beverage, personal services, office, and entertainment.; Built in 1956 and located on a 2.35‑acre site in a dense Springfield corridor.
