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    227 Adams St Springfield, IL 62701

    Sponsored
    For Sale
    $795,000

    Historic Mixed-Use Building, 29,168 sq ft

    Property size:
    29,168 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 29,168 square foot mixed-use building, located at 227 E Adams St in Springfield, Illinois, presents a rare investment opportunity. Built in 1920, this two-story structure sits on a 0.83-acre lot (APN 14-34.0-102-037) and is zoned S-3. The property boasts a covered canopy entrance, a stunning reception area, a spacious two-story main hall with mezzanine, and arched windows overlooking one of three outdoor patios featuring a water fountain. The interior includes a variety of spaces suitable for diverse uses, such as large and small gathering areas, offices, entertainment spaces, a main kitchen, and smaller kitchenettes. Two elevators provide convenient access to both floors. Onsite parking is available. The property is being sold by judicial order and is subject to court approval. The sale is "as is," "where is," and "with all faults," without any warranties. Fixtures, furniture, and equipment (FF&E) are not included. This unique property offers a blend of sophistication and functionality in a prime downtown location, presenting significant potential for redevelopment or continued operation. The asking price is $795,000.

    Property Features for 227 Adams St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    29,168 SF
    Lot Size
    36,155 SF

    Building Details

    Year Built
    1920
    Buildings
    1
    Stories
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.652148
    Latitude
    39.8008768

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    FAQs

    What type of property is this?
    Mixed-use property - Historic Mixed-Use Building, 29,168 sq ft
    Where is this mixed-use property located?
    The property is located at 227 Adams St Springfield, IL.
    What is the asking price?
    The asking price for this property is $795,000.
    Request Owner's contact information
    227 Adams St Springfield, IL 62701
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    Springfield, IL 62701
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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
    227 Adams St Springfield, IL 62701
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