915 E 5Th St Alton, IL 62002

Property Details for 915 E 5Th St

Year built

2002

Lot size

2.50 lot acres

Property size

144,044 SF

Property type

Commercial real estate

APN

23-2-07-13-06-103-001

APU

232071306103001

Description

This exceptional investment opportunity presents a substantial 221,754-square-foot medical office complex situated on an 8.38-acre site in Alton, Illinois. The property, formerly St. Clare's Medical Campus, comprises four buildings including a vacant hospital (originally built in 1921 with subsequent additions and renovations), a vacant attached assisted living facility (The Villas), a high-vacancy medical office building, and a multi-level parking garage. All buildings are connected, sharing mechanical systems. The complex, vacant since approximately 2017 (hospital) and 2020 (assisted living), offers significant redevelopment potential. The property's prime location in historic downtown Alton, adjacent to the Mississippi River, a casino, an amphitheater, and Marquette High School, benefits from a low cost of living and a stable workforce. The site encompasses 32 parcels, including 20 unimproved lots totaling 2.4 acres, offering potential for future expansion or development. The permitted zoning is MED (Medical), making it ideal for a variety of healthcare uses. The 14-story main building and its connected structures present a unique opportunity for adaptive reuse or redevelopment within a thriving community. This Class C property offers a substantial footprint for an owner/user seeking a large-scale medical or office space. The property's size and location present a compelling opportunity for significant return on investment.

Location Insight

City

Alton

County

Madison

State

Illinois

Longitude

-90.1709

Latitude

38.8904

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments