Historic Mixed-Use
For Sale
$2,999,999
501 Capitol Avenue, Springfield, IL 62701
Historic building converted to 25 apartments with in-unit washer/dryers plus office and commercial spaces.
Property Size50,691 SF
Price / SF$59.18
Days on Market357
Property Features for 501 Capitol Avenue
General Information
Standard status
Active
Size
50,691 SF
Property subtype
General Commercial
Units
Multifamily Units
25
Office Units
3
Taxes and HOA fees
Annual Taxes
$38,477
Amenities
Central Air
3
Tile, Concrete, Carpet
Tar Gravel, Flat
Building Details
Year Built
1854
Year Renovated
2019
Tenancy
Multi
Listing Agency:
Garrison Group Keller Williams
(217) 241-0202
Listed By:
Melissa Gates · License #475.216468,ILLINOIS
Source:
Xome
Added: Aug 17, 2025
Changed: Aug 7
Last Checked: Aug 8 at 4:11AM
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 Garrison Group Keller Williams
Investment Insights
Based on property information with market context.
Originally constructed in 1854 as the First United Methodist Church, this iconic structure has been rehabilitated in 1978 and again in 2019. The property features 25 apartments, each equipped with an in-unit washer and dryer, updated appliances, a large full bathroom, and island. Floorplans vary by unit. In addition, there are three separate office spaces, with one currently covered by a long-term lease agreement, along with two additional commercial spaces. A full basement includes a full kitchen, bathrooms, and additional space.
Located at 501 E Capitol Avenue in Springfield, Illinois, the building is presented as a mixed-use asset in a central downtown setting.
This offering combines residential income units with multiple commercial/office configurations within a historic, rehabilitated shell and provides extra functional space through the full basement.
Located at 501 E Capitol Avenue in Springfield, Illinois, the building is presented as a mixed-use asset in a central downtown setting.
This offering combines residential income units with multiple commercial/office configurations within a historic, rehabilitated shell and provides extra functional space through the full basement.
Key Highlights
- Historic building originally constructed in 1854 as the First United Methodist Church
- 25 apartments with in‑unit washer and dryers and updated appliances
- Each apartment offers a different floorplan; mix of layouts throughout the building
Property Analytics
Current Use
Lease Details
3
Office units
25
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,451
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?
Apartment building - Historic building converted to 25 apartments with in-unit washer/dryers plus office and commercial spaces.
Where is this apartment building located?
The property is located at 501 Capitol Avenue Springfield, IL.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: Historic building originally constructed in 1854 as the First United Methodist Church; 25 apartments with in‑unit washer and dryers and updated appliances; Each apartment offers a different floorplan; mix of layouts throughout the building
