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    217 Monroe St Springfield, IL 62701

    Sponsored
    For Lease
    $14 SF/Yr

    Downtown Springfield Office Space Available

    Lot size:
    4,275 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    The Lincoln Building offers three office suites for lease in the heart of downtown Springfield, Illinois. This three-story, 1910 building (renovated in 1981) features a single elevator and is zoned S-3, Central Shopping District (APN: 14-34.0-105-028). Suites range from 360 to 3,165 contiguous square feet, with a minimum divisible space of 360 square feet. The building boasts ample street parking, a significant advantage in a high-tourism area with a large concentration of state and city government employees (19,210 combined) and a substantial medical community (12,121 employees). The location is minutes from major Springfield landmarks, including the Governor's Mansion and the Abraham Lincoln Presidential Library & Museum. Lease rates include utilities, taxes, insurance, and common area maintenance; tenants are responsible for interior maintenance, janitorial services, and internet/data/phone. The landlord is open to updating or remodeling suites for qualified tenants. The building is situated in a densely populated area, with over 12,000 residents and 5,500 households within a one-mile radius, and nearly 80,000 residents and 35,000 households within three miles. Springfield is easily accessible via Interstates 55 and 72, and is located on historic Route 66. Available suites include a 3,165 sq ft suite (available 1/1/2025), a 360 sq ft two-room suite, and a 750 sq ft suite with a reception area, three private offices, and a private entrance.

    Property Features for 217 Monroe St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,275 SF

    Building Details

    Year Built/Renovated
    1910/1981
    Stories
    3

    Unit(s) available at that property

    Space
    Suite 93
    Size
    360 SF
    Rate per SF
    $16
    Space
    Suite 202
    Size
    3,165 SF
    Rate per SF
    $14
    Space
    Suite 99
    Size
    750 SF
    Rate per SF
    $16

    HighLights

    • Three office suites available for lease in a three‑story building in downtown Springfield, IL.
    • Suites range from 360 to 3,165 square feet.
    • Gross lease rates include utilities, taxes, insurance, and CAM.
    • Building features one elevator and ample street parking.
    • Located in the heart of downtown Springfield, near major employers, hospitals, and historical landmarks.
    • Property is zoned S‑3, Central Shopping District (APN: 14‑34.0‑105‑028).
    Property Profile Location Intelligence

    Current Use by Public Records

    Freeborn & Peters Attorney Illinois Rural Health ... Association / Organization Illinois Council of the Blind Non-Profit Organization State Universities Annuitants ... Non-Profit Organization United Counties Council ... Non-Profit Organization

    Suggested Use

    Restaurant Realty agency Building Supply Law Firm Spa & Massage Dental Office 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
    -89.652594415851
    Latitude
    39.79953545864

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    FAQs

    What type of property is this?
    Office space - Downtown Springfield Office Space Available
    Where is this office space located?
    The property is located at 217 Monroe St Springfield, IL.
    What is the lease rate?
    The lease rate is $14-$16 SF/Yr.
    What are key features of this property?
    This property features: Three office suites available for lease in a three-story building in downtown Springfield, IL.; Suites range from 360 to 3,165 square feet.; Gross lease rates include utilities, taxes, insurance, and CAM.
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    217 Monroe St 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
    217 Monroe St Springfield, IL 62701
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