Property profile

3 Old State Capitol Plz Springfield, IL 62701

OFF-MARKET
Retail properties & Spaces
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Property summary

AI-generated overview

This exceptional Springfield, IL commercial property, located at 3 N Old State Capitol Plaza (zip code 62701), offers approximately 1,950 square feet of versatile space ideal for a variety of businesses. Currently zoned S-2, this single-tenant building boasts a captivating blend of historic charm and modern functionality. The first floor, perfect for professional services (such as legal or accounting firms) or a restaurant/bar, features five separate rooms plus a kitchen prep area. The exposed brick interior creates a unique and inviting atmosphere. Some existing kitchen prep equipment remains. The property's prime downtown location offers unparalleled visibility, situated directly across from the Old State Capitol and near the Lincoln Museum. Convenient underground parking is just steps away. The building, originally Buck's Hats (circa 1855), holds significant historical significance. Landlord pays for sewer and water. The gross lease rate is $12.50 per square foot. An additional 1083 square foot lower level is available for lease separately (see separate listing). This lower level would be a perfect complement to a first-floor business, offering additional space for storage, private offices, or expanded operations. This is a rare opportunity to own a piece of Springfield's rich history while enjoying a highly desirable location and attractive lease terms. The APN is 14-27-0-383-028.

Property profile

Verified
Property type Retail properties & Spaces

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm
  • Marketing & Advertising (Bike/Boat/Book/etc) Store
  • Consultant
  • Charitable Organization Social Service Agency
  • (Bike/Boat/Book/etc) Store Corporate Office

Location

3 Old State Capitol Plz Springfield, IL 62701
Springfield metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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