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    Groveland, IL
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    Groveland, IL Multifamily Properties for Sale

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    Morton, IL East Peoria, IL Pekin, IL Tremont, IL Creve Coeur, IL Peoria, IL Washington, IL Bartonville, IL
    Remodeled Mixed-Use Building For Sale
    Updated: May 3, 2025
    Remodeled Mixed-Use Building For Sale

    19478 SPRINGFIELD Road, Groveland, IL 61535

    $569,000
    6,200 sqft
    High 9.07% Cap Rate
    Stable $51,216 Net Operating Income (NOI)
    Fully Occupied with Long‑Term Tenants and Leases
    Newly Remodeled Mixed‑Use Building (2 Apartments, 3 Commercial Units)
    Turnkey Property with Minimal Landlord Responsibilities
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    This listing looks promising.

    Here's a quick look at some key insights for

    19478 SPRINGFIELD Road, Groveland, IL 61535

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    • Est. Cap Rate

      7.2%
      Above avg (5.9%)

    • Est. NOI

      $41K
      Annual

    • Mortgage

      $229K
      Jun 2019

    • Last Sold

      Jun 2019
      $260K

    • Property Type

      Commercial Office (General)
      Built 1972
    View Property Analytics
    Newly Remodeled Mixed-Use Building
    Updated: May 2, 2025
    Newly Remodeled Mixed-Use Building

    19478 SPRINGFIELD Road, Groveland, IL 61535

    $565,000
    0.44 AC lot
    Mixed‑use building with 2 residential apartments and 3 commercial units
    Fully occupied with long‑term tenants and long‑term leases
    In‑place NOI of $51,216 and gross income of $62,556
    Reported strong 9.07% cap rate with minimal landlord responsibilities
    Built in 1979 with central air and natural gas forced‑air heating
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    Mixed-Use Apartment and Retail Building
    Mixed-Use Apartment and Retail Building

    19478 SPRINGFIELD Road, Groveland, IL 61535

    $565,000

    Newly remodeled, fully occupied building with two residential apartments and three commercial units.

    View details
    Based on your search, we've compiled 11 Potential Opportunities for your consideration. Besides 3 Active listings in Groveland, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Pekin Multifamily Property Near Lake
    Pekin Multifamily Property Near Lake

    740 E SHORE Drive, Pekin, IL 61554

    $674,900
    0.64 AC lot

    Well-maintained 8-unit apartment building near Lake Arlann.

    View details
    Mixed-Use Income Building
    Mixed-Use Income Building

    220 & 222 MEADOW Avenue, East Peoria, IL 61611

    $280,000

    Mixed-use building with commercial space and four residential apartment units in East Peoria, zoned B2.

    View details
    Mixed-Use Building Near Morton
    Mixed-Use Building Near Morton

    3409 MEADOW Avenue, East Peoria, IL 61611

    $314,900
    0.70 AC lot

    Multi-use building with commercial spaces and apartments near Morton.

    View details
    Pekin Commercial Building with Apartments
    Pekin Commercial Building with Apartments

    101 N PARKWAY Drive, Pekin, IL 61554

    $494,900

    Versatile commercial building with apartments in Pekin, Illinois.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    University Park Developable Land
    University Park Developable Land

    976 Mesa Court, University Park, IL 60484

    Contact for pricing
    3.20 AC lot

    3.2 acres with 24 concrete housing pads in University Park.

    View details
    Commercial Land Development Parcel
    Commercial Land Development Parcel

    17039 Hillside Lane, Jerseyville, IL 62052

    $70,000
    2.10 AC lot

    Roughly two acres off Route 67 with utilities in place and an existing concrete pad for flexible development uses.

    View details
    Wooded Homesite in Wheatfield, Indiana
    Wooded Homesite in Wheatfield, Indiana

    4418 Oakland Court, Wheatfield, IN 46392

    Contact for pricing
    0.57 AC lot

    Spacious, wooded 0.57-acre lot in established neighborhood.

    View details
    Land For Sale, Lakemoor, IL
    Land For Sale, Lakemoor, IL

    27 Oyster Bay, Lakemoor, IL 60051

    Contact for pricing
    0.12 AC lot

    Commercial land available in Lakemoor, Illinois.

    View details

    Groveland, IL Multifamily Properties Market Trends and Statistics

    Explore 3 multifamily properties for sale in Groveland, IL, showcased through 3 active listings on our real estate platform. These investment opportunities span a total of 6,200 square feet of properties for sale, with an estimated market value of $569,000.

    Sale prices for multifamily properties in Groveland, IL start at $569,000, averaging $569,000, and reaching up to $569,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Apartment buildings 1
    Duplexes 1

    Demographics Overview

    Population 1,906
    Population Growth (5Y) +12.3%
    Median Household Income $138,594
    College Educated 47.7%

    High-Yield Neighborhoods for Investment

    Identify Groveland submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    61535 $569K

    Taxes & Financing

    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Tazewell County

    New Delisted

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