424 S 5th St, Springfield, IL 62701

This two-building office portfolio totals 109,504 square feet and consists of the Bucari Building (89,056 SF) and the Bell Building (20,448 SF). It offers an investor or redeveloper the opportunity to acquire two historic office buildings located in the Springfield Capitol District. The Springfield Historic District is steps from the Illinois State Capitol Building, Old State Capitol, Abraham Lincoln Presidential Library & Museum, and the Bank of Springfield Center. The buildings benefit from government, visitor, and convention traffic. The Bell Building at 424 South Fifth Street is occupied by the State of Illinois’ Department of Central Management on a long-term lease with an option to extend on August 31, 2028. The Bucari Building located at 509 South 6th Street is currently vacant, with re-stabilization strategies ranging from continued government-oriented leasing to adaptive reuse. For redevelopment, this location provides investors with an opportunity to control a footprint in Springfield’s downtown location, and to answer the call for available, affordable, multifamily housing. Springfield is anchored by government, healthcare, education, and tourism. Major employers include the State of Illinois, Memorial Health, and the University of Illinois. Connectivity is enhanced by Interstates 55 and 72 and the nearby Abraham Lincoln Capital Airport, serving over 186,000 passengers annually.