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    1521 6Th St Springfield, IL 62702

    Sponsored
    For Sale
    $279,000

    Historic Building, Endless Potential, $279,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Springfield, Illinois commercial property, located at 1521 N 6TH Street, presents a unique investment opportunity. Priced at $279,000, this property boasts a rich history as the former Becker Library of Benedictine University. The building offers two levels of finished interior space, providing ample room for a variety of uses. Its versatile layout makes it ideal for a multitude of businesses, including but not limited to: an events center, office spaces, training facilities, a fitness center or gym, or even a restaurant or brewery. The property's zoning allows for creative adaptation to suit your specific needs. Imagine the possibilities of creating a vibrant establishment with outdoor seating, capitalizing on the property's location and potential. The property is situated in Sangamon County, Illinois, with a zip code of 62702, offering convenient access to Springfield's amenities and infrastructure. The land itself provides a solid foundation for your future endeavors. This is a rare chance to acquire a historic building with significant potential in a desirable location. The property is classified as Land, Office, and Retail, and is zoned for Commercial, Restaurant, and Other uses. Don't miss this chance to transform this landmark into your next successful venture. Contact us today to schedule a showing and explore the possibilities.

    Property Features for 1521 6Th St

    General Information

    Property type
    Restaurants

    HighLights

    • $279,000 Springfield, IL commercial property at 1521 N 6TH Street.
    • Former Becker Library; two levels of finished space.
    • Versatile layout suitable for various uses including events, offices, fitness, or restaurant.
    • Commercial zoning allows for restaurant and other uses.
    • Located in Sangamon County, IL (62702), offering convenient access to Springfield amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.6482441
    Latitude
    39.8213177

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    FAQs

    What type of property is this?
    Restaurant - Historic Building, Endless Potential, $279,000
    Where is this restaurant located?
    The property is located at 1521 6Th St Springfield, IL.
    What is the asking price?
    The asking price for this property is $279,000.
    What are key features of this property?
    This property features: $279,000 Springfield, IL commercial property at 1521 N 6TH Street.; Former Becker Library; two levels of finished space.; Versatile layout suitable for various uses including events, offices, fitness, or restaurant.
    Request Owner's contact information
    1521 6Th St Springfield, IL 62702
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    Springfield, IL 62702
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1521 6Th St Springfield, IL 62702
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