Springfield, IL Multifamily Properties for Sale

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Grandview, IL Southern View, IL Sherman, IL Rochester, IL Chatham, IL Riverton, IL Cantrall, IL Decatur, IL

30 properties

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Updated: Jul 2

Mobile Home Park with Commercial Building

3915 N DIRKSEN Parkway, Springfield, IL 62702

$250,000

1.58 AC lot

1.58‑acre mobile home park with three mobile homes
B‑1 zoning with variance for mobile home park use
Vacant 24 x 48 commercial building with full bath and several rooms
Separate 24 x 48 storage building on the west property line
Open lot provides space for another mobile home

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Updated: Jun 16

Mobile Home Park with Commercial Building

3915 N DIRKSEN Parkway, Springfield, IL 62702

$250,000

1.58 AC lot

1.58‑acre B‑1 property with a variance for mobile home park use
Three mobile homes: two seller‑owned rentals and one tenant‑owned home with lot rent
Vacant commercial building measures 24 x 48 feet and includes a full bath and several rooms
Separate 24 x 48 storage building remains on the west property line
One seller‑owned mobile home has a new roof

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All-Brick Duplex with Updated Interiors

1428 Lowell Avenue, Springfield, IL 62704

$265,000

Two-unit property with hardwood floors, basement storage, and dedicated laundry appliances.

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Modern 3-Bed Duplex Home

3418 Telford Drive, Springfield, IL 62711

$370,000

2,717 sqft

Modern 2019-built duplex with three bedrooms, three full baths, and a finished basement plus fenced backyard.

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Four-Unit Multifamily Property

2811 MONMOUTH Court, Springfield, IL 62704

$369,900

Four residential units offer two-bedroom layouts, private outdoor space, laundry hookups, and off-street parking.

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Updated Two-Unit Duplex

600 E BLACK Avenue, Springfield, IL 62702

$174,900

Separate residential units support owner-occupant living or income-producing use.

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Two-Unit Duplex with Detached Garage

843 S GLENWOOD Avenue, Springfield, IL 62704

$164,900

Each residence includes two bedrooms, one full bathroom, and practical living areas.

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Historic Apartment Community

631 South 4th Street, Springfield, IL 62703

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53,265 sqft

Two-building multifamily property with studios, one-bedroom units, ancillary structures, and an R-5(B) zoning designation.

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Apartment Building with Renovated Units

824 E Ridgely Avenue, Springfield, IL 62702

$369,900

Renovated units feature updated HVAC systems and water heaters.

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Remodeled Quadplex with Storage

913 S 8TH Street, Springfield, IL 62703

$219,000

Apartment property offers a varied unit mix, refreshed finishes, and alley-accessed and on-street parking.

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Mixed-Use Retail and Residential Property

9865-9869 W Roosevelt Rd, Westchester, IL 60154

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35,870 sqft

Ground-floor storefronts with upper-level residential units offer diversified space for service and living tenants.

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Two-Bedroom Duplex Property

2021 S 4TH Street, Springfield, IL 62704

$59,900

Residential property with prior duplex use, a detached garage, and updated roof and water heater.

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Mixed-Use Building with Elevator

115 & 117 N 6TH Street, Springfield, IL 62701

$429,000

The property combines occupied storefronts, office suites, and apartments under S-3 zoning.

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Three-Building Apartment Portfolio

604-614 South 4th Street, Springfield, IL 62703

$540,000

As-is multifamily property near downtown Springfield and two prominent civic landmarks.

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Updated Duplex with Included Appliances

1515-1517 N MARYLAND Avenue, Springfield, IL 62702

$179,500

Two separately configured units offer two bedrooms and one full bath apiece.

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Six-Unit Quadplex Property

524 E Ridgely Avenue, Springfield, IL 62702

$250,000

Two-building multifamily asset with updated exterior components and tenant-paid utilities.

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Brick-Front Duplex with Oversized Garage

2410 Asheville Drive, Springfield, IL 62711

$240,000

1,612 sqft

Quiet cul-de-sac setting with updated exterior elements and flexible interior space.

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All-Brick 6-Unit Apartment Building

1546 E CORNELL Street, Springfield, IL 62703

$160,000

Six-unit, one-story building with individual electric meters; tenants pay electric and gas while landlord pays water and sewer.

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Historic Multifamily Apartment Community

631 S 4th St, Springfield, IL 62703

$3,500,000

Historic property with 75 studio and one-bedroom units across two buildings, plus detached garage and outbuilding.

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Apartment Building

820 Converse Avenue, Springfield, IL 62702

$540,000

Offering includes an apartment property on Converse Avenue and an additional property on North 9th Street in Springfield.

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Furnished Duplex with Updated Interiors

615 S English Avenue, Springfield, IL 62704

$139,751

Two furnished units support short- and extended-stay occupancy with separate kitchens, baths, and laundry accommodations.

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Lincoln Tower High-Rise Apartments

520 South Second Street, Springfield, IL 62701

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Downtown apartment property with one-, two-, and three-bedroom layouts plus resident-focused amenities.

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Mobile Home Park with Vacant Building

3721 Wollesen Lane, Springfield, IL 62702

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Mixed-use B-1 zoning with CPU supports a mobile home park plus a vacant 24-by-48 business building.

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Remodeled Duplex with Sunrooms

701 W Vine Street, Springfield, IL 62704

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Two-unit property with updated roofing, windows, and interiors, offered in as-is condition.

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Springfield, IL Multifamily Properties Market Trends and Statistics

Explore 32 multifamily properties for sale in Springfield, IL, showcased through 30 active listings on our real estate platform. These investment opportunities span a total of 93,464 square feet of properties for sale, with an estimated market value of $8,471,751.

Sale prices for multifamily properties in Springfield, IL start at $59,900, averaging $445,881, and reaching up to $3,500,000 — 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

Demographics Overview

Population 138K

Population Growth (5Y) +1.9%

Median Household Income $70,314

College Educated 9.5%

High-Yield Neighborhoods for Investment

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

Neighborhood	Average Price
62704	$213.2K
62702	$289.2K
62711	$305K
62703	$1.1M
62701	$1.7M

Taxes & Financing

Tax Rate (average for all types) 8.64%

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Sangamon County

New Delisted

Property Size Breakdown

The majority of commercial real estate listings in Springfield fall within the 100,000+ square foot range.

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Springfield, IL Multifamily Properties for Sale

3915 N DIRKSEN Parkway, Springfield, IL 62702

3915 N DIRKSEN Parkway, Springfield, IL 62702

1428 Lowell Avenue, Springfield, IL 62704

3418 Telford Drive, Springfield, IL 62711

2811 MONMOUTH Court, Springfield, IL 62704

600 E BLACK Avenue, Springfield, IL 62702

843 S GLENWOOD Avenue, Springfield, IL 62704

631 South 4th Street, Springfield, IL 62703

824 E Ridgely Avenue, Springfield, IL 62702