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    Property profile & analytics

    1999 Wabash Ave Springfield, IL 62704

    • Commercial real estate
    • 1.82 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimation
    $430,000
    Location Intelligence
    Property ID
    US28-4546745
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Edward Jones - Financial Advisor: Mary Pat Cavanagh / Stock Broker / Financial Consultant
    • Prairie State Counseling LLC / Counselor / Mental Health Service
    • LeadIT Corporation / Software Company / Business Management Consultant
    • Safe Haven Hospice / Hospice
    • Illinois Primary Health Care Association / Corporate Office

    Property Details for 1999 Wabash Ave

    Lot size
    1.82 lot acres
    Property type
    Commercial real estate
    APN
    22-07.0-276-025
    APU
    22070276025

    Description

    This exceptional two-story, 51,500 square foot executive office building, located at 1999 Wabash Ave, Leland Grove, IL 62704, offers multiple tenancy options with a minimum divisible space of 1,133 square feet. The property boasts a fresh, newly renovated interior and updated exterior signage. Situated on a major arterial, Wabash Avenue, at its intersection with Chatham Road, this contemporary building enjoys high visibility and convenient access. The open floor plan allows for abundant natural light. Amenities include over 200 on-site parking spaces with cross-access parking for even greater convenience, ADA compliance, fiber connectivity, and access to several high-speed internet providers. First-floor suites offer private entries. The location benefits from its proximity to a variety of retail, restaurants, grocery stores, gas stations, and residential areas. Public transportation is also readily available. The building is zoned S-2 (City of Springfield) and is located in Sangamon County. One elevator serves the two stories.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $385,000

    • CAP approach

      CAP return
      Estimation
      6%
      $495,000
      6.5%
      $435,000
      7%
      $480,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $440,000
      Geo Method
      $485,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $520,000
      Retail
      $450,000
      Mixed-Use
      $440,000
      Hospitality
      $550,000
      Educational
      $525,000
      Residential Income
      $405,000
      Energy
      $450,000
      Income-Based Land
      $535,000
      Food Service
      $435,000

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.6895
    Latitude
    39.7648
    CBSA code
    44100
    CBSA name
    SPRINGFIELD, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $49,732
    $213,030
    $349,480
    $562,510
    -
    $639,090
    $1,048,440
    $1,687,530

    Comparable in this City

    • Value Estimation by Request
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    Springfield, IL 62704
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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