1115 S 2nd Street Springfield, IL 62704

This prime downtown property, located just steps from the Capitol building, offers an exceptional investment opportunity with its excellent condition, versatile spaces, and steady income potential. Remodeled in 2001 with updated wiring, the building features modern functionality throughout its layou...t. It includes 2,162 square feet of office space across the first and second floors, currently leased to the Illinois Association of Aggregate Producers for $2,500 per month (with a potential rent escalation to $2750 in 2026 and a new 5-year term, see attached lease for details). The property includes a large conference room, multiple bathrooms, kitchen spaces/break rooms, enhancing its functionality and appeal. The third floor houses a 650-square-foot 1-bedroom apartment, generating $600 per month on a month-to-month lease, allowing the new owner flexibility to adjust the rent to market rates. Additionally, it offers a 1,081-square-foot unfinished basement ideal for storage to tenants. Property also offers a well-maintained parking lot with plenty of parking. The average monthly expenses include $520 for utilities, $170 for insurance, and $60 for garbage, totaling $1,215. Other updates: 3rd story water heater: 2024, newer fence around parking lot. Strategic location, stable tenants, and potential for increased revenue make this mixed-use property an outstanding investment. Don’t miss this rare opportunity to own a standout piece of downtown real estate! Continue reading