Property profile

424 5th St Springfield, IL 62701

OFF-MARKET
Other commercial real estate
Property ID
US28-2970881
0.13 ac lot
Entity Owned 7-yr Hold Free & Clear
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Property summary

AI-generated overview

The property is a two-building office portfolio totaling 109,504 square feet, comprising the Bucari Building (89,056 SF) at 509 South 6th Street and the Bell Building (20,448 SF) at 424 South Fifth Street. The buildings are situated in the Springfield Capitol District within the Springfield Historic District, with proximity to the Illinois State Capitol Building, Old State Capitol, the Abraham Lincoln Presidential Library & Museum, and the Bank of Springfield Center. The Bell Building has historically been occupied by the State of Illinois’ Department of Central Management and is configured as an office facility. The Bucari Building is a historic office building with a configuration suitable for continued office use and adaptive reuse applications. The portfolio is located in an area supported by government, healthcare, education, and tourism, with connectivity to Interstates 55 and 72 and nearby Abraham Lincoln Capital Airport.

Property profile

Verified
Property type Other commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.13 ac (5,780 SF)
APN 14-34.0-180-002
UPID US28-2970881

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
  • Home Decor Store Department Store

Location

424 5th St Springfield, IL 62701
Springfield metro Census 1400 SPRINGFIELD, IL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$290k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$290k

Owner & transaction history

since 2019
3 recorded transactions
2024
Price N/A
2019
Price N/A
2019
$2.3M

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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