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    OFF-MARKET
    Commercial real estate

    2040 Hill Meadows Dr, Springfield, IL 62702

    24,600 SF 1.46 ac lot Built 1985
    Property ID
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Commercial real estate
    Year built 1985
    Total area 24,600 SF
    Lot 1.46 ac (63,598 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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