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    427 Monroe St Springfield, IL 62701

    Sponsored
    For Lease
    $14 SF/Yr

    Prime location, flexible suites available

    Lot size:
    18,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class B office building at 427 E Monroe St, Springfield, IL 62701, offers a variety of flexible office spaces ideal for professionals seeking a downtown presence. The building, situated on a desirable corner lot near 5th St., boasts a total of 18,000 square feet and comprises two suites. Currently, 1,750 square feet of space is immediately available, divisible into units as small as 1,050 square feet, with a maximum contiguous space of 1,050 square feet. The building features convenient elevator access, making it easily accessible for all tenants and their clients. This location is perfect for businesses needing a high-profile address in the heart of Springfield. The building's central location makes it easily accessible to various amenities and transportation options. Whether you're a lobbyist, attorney, architect, accountant, or another professional, this property offers a prestigious and functional workspace to support your business needs. The available space is adaptable to a variety of office configurations, allowing for customization to suit individual requirements. Inquire today to learn more about this exceptional opportunity.

    Property Features for 427 Monroe St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    18,000 SF
    Class
    B
    Total Rate
    21000

    Unit(s) available at that property

    Space
    301
    Size
    1,000 SF
    Rate per SF
    $14
    Space
    302
    Size
    750 SF
    Rate per SF
    $14
    Space
    Ground Level
    Size
    6,000 SF
    Rate per SF
    $14

    HighLights

    • Class B office building at 427 E Monroe St, Springfield, IL 62701.
    • 18,000 square feet, two suites.
    • 1,750 square feet immediately available, divisible to 1,050 square feet maximum contiguous space.
    • Convenient elevator access.
    • Desirable corner lot near 5th St., downtown Springfield location.
    Property Profile Location Intelligence

    Current Use by Public Records

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

    Suggested Use

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

    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

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    FAQs

    What type of property is this?
    Office Property / Space - Prime location, flexible suites available
    Where is this office property / space located?
    The property is located at 427 Monroe St Springfield, IL.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Class B office building at 427 E Monroe St, Springfield, IL 62701.; 18,000 square feet, two suites.; 1,750 square feet immediately available, divisible to 1,050 square feet maximum contiguous space.
    Request Owner's contact information
    427 Monroe 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
    427 Monroe St Springfield, IL 62701
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