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    15 Old State Capitol Plz Springfield, IL 62701

    Sponsored
    For Lease
    $8 SF/Yr ($10,404 /Mo)

    Prime Springfield office space, multiple suites available.

    Lot size:
    14,688 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    The Paragon Building, located at 15 S Old State Capitol Plaza in Springfield, Illinois (zip code 62701), presents a compelling investment opportunity. This two-story building, encompassing 14,688 square feet, features five individual suites, with 2,788 square feet currently vacant. The property is zoned S-3 and has the APN 143401300487. The building includes an elevator for convenient access to both floors. Currently available are three retail spaces ranging from 635 to 1,213 square feet. The building's traditional office design is complemented by high ceilings in the interior office suites. Tenants enjoy secure access via a main door directly from the Plaza sidewalk. This property is ideal for a variety of businesses seeking a prominent location in Springfield, Illinois. The building's multiple suites offer flexibility for various tenant needs, and the vacant space presents an opportunity for immediate occupancy or lease. The strategic location on the Old State Capitol Plaza ensures high visibility and accessibility. This is a rare opportunity to acquire a well-maintained, established office building in a thriving downtown area.

    Property Features for 15 Old State Capitol Plz

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    14,688 SF
    Total Rate
    10404

    Building Details

    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Space 3
    Size
    635 SF
    Rate per SF
    $8
    Space
    Space 2
    Size
    940 SF
    Rate per SF
    $8
    Space
    Space 1
    Size
    1,213 SF
    Rate per SF
    $8

    HighLights

    • 15 S Old State Capitol Plaza, Springfield, IL 62701, a two‑story, 14,688 SF building with five suites, including 2,788 SF of vacant space.
    • APN 143401300487, zoned S‑3.
    • Features an elevator and secure access from Old State Capitol Plaza.
    • Offers three available retail spaces (635‑1,213 SF) and high ceilings in office suites.
    • Prime downtown Springfield location with high visibility and accessibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lexitas Legal Services HR Full Circle ... Business Management Consultant Brad Probst - Ware ... Insurance Agency JEI Real Estate Developer LifestyleCPA - registered trademark ... Certified Public Accountant

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm 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
    -89.649333608036
    Latitude
    39.800523325355

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    FAQs

    What type of property is this?
    Restaurant - Prime Springfield office space, multiple suites available.
    Where is this restaurant located?
    The property is located at 15 Old State Capitol Plz Springfield, IL.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: 15 S Old State Capitol Plaza, Springfield, IL 62701, a two-story, 14,688 SF building with five suites, including 2,788 SF of vacant space.; APN 143401300487, zoned S-3.; Features an elevator and secure access from Old State Capitol Plaza.
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    15 Old State Capitol Plz 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
    15 Old State Capitol Plz Springfield, IL 62701
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