427 Monroe St, Springfield, IL 62701
This exceptional commercial property at 427 Monroe Street in Springfield, Illinois (APN 14340107051) offers a unique investment opportunity. The property, zoned S-3, encompasses a 6,000 square foot building situated on a single-tenant land parcel. Currently configured as a bar/restaurant, the space boasts a highly desirable downtown location at the corner of 5th and Monroe Streets. The interior features an open floor plan, perfect for entertainment venues or adaptable to various commercial uses. The existing layout includes two separate bar areas, a stage, and provides ample space for customization. Adding to its appeal are two outdoor seating areas, ideal for expanding operations and creating a vibrant atmosphere. The building consists of a single suite, offering flexibility for a single large tenant or the potential for division into smaller spaces. This property presents a rare chance to acquire a well-located, versatile commercial space in a thriving downtown area. The property's size and layout offer significant potential for a variety of businesses. Serious inquiries are encouraged.
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Brown Management Corp. Business Management Consultant
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Coldwell Banker Commercial Devonshire Realty Real Estate Agency
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Upper Echelon Marketing Inc. Advertising Agency Marketing & Advertising
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Veloxinet Telecommunications Service Data Center
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Kristi Mitchell Photography Photography Service (Bike/Boat/Book/etc) Store
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.