Corner Mixed-Use Commercial
For Sale
$600,000
427 MONROE Street, Springfield, IL 62701
COMMERCIAL - Springfield, IL
Lot Size0.50 Acres
Days on Market606
Property Features for 427 MONROE Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
S-3
Directions
Northwest corner of 5th and Monroe.
Standard status
Active
APN
14340107051
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
23059
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Building Details
Floors in Building
4
Flooring type
Carpet, Tile
Building materials
Brick, Frame
Roof type
Membrane
Listing Agency:
The Real Estate Group, Inc.
(217) 787-7000
Listed By:
Curtis Tillett · License #475089421
(217) 553-7022
Added: Dec 1, 2024
Changed: Jun 24
Last Checked: Jul 30 at 6:06PM
MLS# CA1034952
Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use commercial building includes third-floor office suites and ground-level retail space. The property also features approximately 6,000 square feet of entertainment space configured with an open floor plan, two bars, a stage, and two outdoor seating areas. Multiple office and retail uses can be accommodated within the building, supporting a range of professional and hospitality tenants.
The building is located on a corner in downtown Springfield at 427 Monroe Street, on the corner of 5th and Monroe. It is about three blocks from the State Capitol and Amtrak station, with the post office next door and three banks within roughly 1–2 blocks. Area amenities include multiple restaurants and gift shops, and the medical district is approximately one mile away.
Given the combination of professional office space, street-level retail, and entertainment/event-ready areas, this property can fit a variety of operators looking for a centralized downtown presence. The existing building structure and tenant mix described in the remarks may be well-suited for professional firms such as legal, accounting, or architectural uses, as well as for retail concepts requiring a high-visibility location and hospitality groups seeking dedicated entertainment space.
The building is located on a corner in downtown Springfield at 427 Monroe Street, on the corner of 5th and Monroe. It is about three blocks from the State Capitol and Amtrak station, with the post office next door and three banks within roughly 1–2 blocks. Area amenities include multiple restaurants and gift shops, and the medical district is approximately one mile away.
Given the combination of professional office space, street-level retail, and entertainment/event-ready areas, this property can fit a variety of operators looking for a centralized downtown presence. The existing building structure and tenant mix described in the remarks may be well-suited for professional firms such as legal, accounting, or architectural uses, as well as for retail concepts requiring a high-visibility location and hospitality groups seeking dedicated entertainment space.
Key Highlights
- Third‑floor office suites available in a downtown Springfield building on the corner of 5th and Monroe
- Ground‑level retail space available, plus 6,000 sq. ft. entertainment space with open floor plan
- Entertainment space includes 2 bars and a stage, with 2 outdoor seating areas
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 62701, IL
1,354
Population
832
Households
1.6
Avg Household Size
36
Median Age
35%
College-Educated
86%
High-School Grad
0.4 sq mi
ZIP Area
3,385
Density / Sq Mi
$32,444
Median Household Income
$31,472
Median Earnings
$667
Median Rent
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Corner building offers third-floor office suites and ground-level retail and entertainment space in downtown Springfield.
Where is this office units located?
The property is located at 427 MONROE Street Springfield, IL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Third‑floor office suites available in a downtown Springfield building on the corner of 5th and Monroe; Ground‑level retail space available, plus 6,000 sq. ft. entertainment space with open floor plan; Entertainment space includes 2 bars and a stage, with 2 outdoor seating areas
