2040 Hill Meadows Dr Springfield, IL 62702
This exceptional investment opportunity presents a 24,600 square foot executive office building situated on a 1.46-acre lot at 2040 Hill Meadows Dr, Springfield, IL 62702. Built in 1985, this two-story building boasts a desirable location overlooking Timberbrook Park, offering a tranquil setting. The exterior features split-faced concrete block construction, complemented by ample on-site parking. The interior includes drop ceilings (varying heights), a two-stop elevator, two interior staircases, and two fully finished restrooms on each floor. The roof was recently replaced approximately three years ago. It's important to note that the building is currently not showable due to mold contamination and is being sold "as-is, where-is, and with all faults." No representations or warranties are made regarding the functionality of any building systems. This presents a unique opportunity for an investor seeking a renovation project with significant potential in a peaceful, park-like setting. The asking price for this property is $230,400. The property is currently vacant.
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.