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427 Monroe St Springfield, IL 62701

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For Sale
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18,000 SF Office, $750,000

Property size:
18,000 SF

Property Features for 427 Monroe St

General Information

Property type
Office Properties & Spaces
Square Feet
18,000 SF
Class
B

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Listing Contact
Curtis Tillett
Curtis Tillett

Listing Agency: The Real Estate Group Inc. Listing Agent: Curtis Tillett

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

This exceptional Class B office building, located at 427 E. Monroe in Springfield, Illinois, presents a compelling investment opportunity. The property boasts 18,000 square feet of space, currently 67% occupied, offering significant potential for increased revenue. Priced at $750,000, or $41.67 per square foot, this building provides a strong return on investment. The building is zoned S-3 and is owned by an LLC. Conveniently situated in the heart of downtown Springfield, the property includes 12 parking spaces located to the west of the building, providing ample parking for tenants and visitors. A sizable basement offers valuable storage space, adding to the property's functionality and appeal. The building's current occupancy rate presents a solid foundation for future growth, with opportunities to lease the remaining vacant space. This is an excellent chance to acquire a well-located, established office building in a thriving downtown area. The property's features, including ample parking and storage, make it an attractive option for a variety of professional tenants. The strategic location in Springfield, Illinois, ensures high visibility and accessibility. This is a turnkey opportunity for an investor seeking a stable and potentially high-growth commercial real estate asset.
Property Profile Location Intelligence

Current Use by Public Records

Brown Management Corp. Business Management Consultant Coldwell Banker Commercial ... Real Estate Agency Upper Echelon Marketing ... Advertising Agency Veloxinet Telecommunications Service Kristi Mitchell Photography Photography Service

Suggested Use

Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Springfield
County
Sangamon
State
Illinois
Longitude
-89.6496353
Latitude
39.7996318

FAQs

What type of property is this?
Office Property / Space - 18,000 SF Office, $750,000
Where is this office property / space located?
The property is located at 427 Monroe St Springfield, IL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Class B office building, 18,000 square feet, located at 427 E. Monroe, Springfield, IL.; 67% occupancy, offering significant upside potential.; Priced at $750,000 ($41.67/SF).
(217) 553-7022 Call to check price and availability
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