Historic Multifamily Apartment
631 S 4th St, Springfield, IL 62703
For Sale
$3,500,000
Historic property with 75 studio and one-bedroom units across two buildings, plus detached garage and outbuilding.
Property Size53,265 SF
Days on Market107
Property Features for 631 S 4th St
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Building Size
Year Built
Listing Agency:
SVN | Core 3
Listed By:
Carrie Tinucci-Troll, CCIM · License #475166842
(331) 452-6860
Source:
Svn
Added: Jul 26
Changed: Oct 26
Last Checked: Nov 8 at 4:36AM
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 SVN | Core 3
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Investment Insights
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The Hickox Collection is a historic multifamily apartment community originally built in the 1920s, offered for sale in its current as-is condition. The property includes 75 studio and one-bedroom apartments across a prominent five-story main building and a separate three-story building at the rear. In addition to the residential buildings, there is a detached garage and an additional outbuilding.
The main building is now operational and is approximately 40% occupied, with new residents moving in as additional units are completed. The rear three-story building remains ready for renovation. The property previously experienced significant deferred maintenance, incomplete renovations, and utility interruptions; since then, substantial capital has been invested to stabilize the asset, restore utilities, and complete major improvements to the main building.
Current leasing activity is described as showing strong demand, with studios renting for approximately $800 per month and one-bedroom units achieving approximately $900 per month. Buyers are encouraged to evaluate performance based on current leasing momentum and remaining renovation work. Historical financials are noted as not being representative of future performance due to the rehabilitation completed since acquisition.
The main building is now operational and is approximately 40% occupied, with new residents moving in as additional units are completed. The rear three-story building remains ready for renovation. The property previously experienced significant deferred maintenance, incomplete renovations, and utility interruptions; since then, substantial capital has been invested to stabilize the asset, restore utilities, and complete major improvements to the main building.
Current leasing activity is described as showing strong demand, with studios renting for approximately $800 per month and one-bedroom units achieving approximately $900 per month. Buyers are encouraged to evaluate performance based on current leasing momentum and remaining renovation work. Historical financials are noted as not being representative of future performance due to the rehabilitation completed since acquisition.
Key Highlights
- Historic multifamily property built in 1920 (Harris Hickox), located at the corner of S. 4th and Cook Streets in Springfield, minutes from downtown.
- 75 studio and one‑bedroom apartments across two buildings: a five‑story main building and a separate three‑story rear building.
- Main five‑story building is operational and approximately 40% occupied, with additional units being completed and newly leased.
Property Analytics
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Lease Details
75
Residential units
Location Intelligence
Trade Area within ½ mile
3,048
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Historic property with 75 studio and one-bedroom units across two buildings, plus detached garage and outbuilding.
Where is this apartment building located?
The property is located at 631 S 4th St Springfield, IL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Historic multifamily property built in 1920 (Harris Hickox), located at the corner of S. 4th and Cook Streets in Springfield, minutes from downtown.; 75 studio and one‑bedroom apartments across two buildings: a five‑story main building and a separate three‑story rear building.; Main five‑story building is operational and approximately 40% occupied, with additional units being completed and newly leased.
