2501 Chatham Rd Springfield, IL 62704
- Commercial real estate
- 0.69 lot acres
Current Use by Public Records
- Star of Your Story / Musician
- Fleischbrueder LLC / Sports Accessories Wholesaler
- Americanteck / Marketing Agency / Website Designer
- Living From HERT to HART / Life Coach
- Anne E. Daly, MS / Medical Clinic
Property Details for 2501 Chatham Rd
- Lot size
- 0.69 lot acres
- Property type
- Commercial real estate
- APN
- 22-06.0-477-030
- APU
- 22060477030
Description
This exceptional three-story office building, totaling 33,062 square feet, presents a fantastic opportunity for businesses seeking versatile space in a high-traffic location. Constructed in 1996, the property boasts a desirable address at 2501 Chatham Road within the vibrant Montvale Development. The building features one structure with convenient elevator access. Multiple tenancy allows for flexibility, with available spaces ranging from 1,975 to 8,743 square feet, ideal for a variety of business needs. The R5B zoning ensures a wide range of permitted uses. Located in Sangamon County (APN 22-06.0-477-030), this property benefits from its strategic placement near numerous retail establishments, restaurants, and other businesses, ensuring high visibility and accessibility. Enjoy the advantage of ample free on-site parking for tenants and clients. The building's prominent location on Chatham Road provides significant exposure, with an estimated 20,000 cars passing daily, offering excellent potential for brand recognition. The building itself offers a comfortable and professional environment, making it an attractive option for businesses seeking a quality presence. Currently, various sized spaces are available on the first and third floors. Don't miss this chance to secure your ideal office space in this thriving commercial area.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,050,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,040,000
- 6.5%
- $1,035,000
- 7%
- $865,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $915,000
- Geo Method
- $1,025,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $980,000
- Retail
- $785,000
- Mixed-Use
- $1,055,000
- Hospitality
- $1,000,000
- Educational
- $955,000
- Residential Income
- $850,000
- Energy
- $1,000,000
- Income-Based Land
- $1,010,000
- Food Service
- $1,060,000
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.6875
- Latitude
- 39.7716
- CBSA code
- 44100
- CBSA name
- SPRINGFIELD, IL METROPOLITAN STATISTICAL AREA
