2040 Hill Meadows Dr, Springfield, IL 62702
This 24,600 square foot, two-level office building located at 2040 Hill Meadows Drive, Springfield, IL, presents a unique investment opportunity. Situated on a 1.46-acre lot, the property boasts a tranquil setting overlooking Timberbrook Park and its wooded surroundings. The exterior is constructed of split-faced concrete block, providing a durable and low-maintenance facade. Ample parking is available on-site for tenants and visitors. The interior features drop ceilings, though ceiling heights vary throughout the building. Convenient access is provided by a two-stop elevator and two interior staircases. Each floor includes two finished restrooms. The roof is relatively new, having been replaced approximately three years ago. It is important to note that the building is currently not showable due to mold contamination. The property is being sold "as-is, where-is, and with all faults," meaning the buyer assumes all responsibility for any necessary repairs or remediation. No representations or warranties are made regarding the functionality of any building systems. This presents a significant opportunity for a buyer willing to undertake a renovation project in a desirable location.
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.