501 E Capitol AvenueSpringfield, IL 62701
Sangamon County
Description
Rare opportunity to own a mixed use masterpiece in the heart of downtown Springfield IL. Originally constructed in 1854 as the First United Methodist Church, this iconic structure has stood as a pillar of architectural heritage for decades. Thoughtfully rehabilitated in 1978 and again in 2019. It now offers a seamless blend of historic charm and contemporary living. 25 apartments, each with in unit washer and dryers, Island, large full bathroom, updated appliances, with every unit offering a different floorplan. 3 separate office spaces, 1 currently with long term lease agreement and 2 additional commercial spaces. A turnkey investment. Full basement with a full kitchen, bathrooms, and more! This space has a ton of additional potential, and income while currently sitting at an impressive NOI. Whether you're drawn to its storied past or its strong financial future, this building delivers both character and performance. A cornerstone of Springfields urban fabric, ready for its next visionary owner.
Property Information
- Property type
- Commercial Sale
- Year built
- 1854
- Building area
- 50,691 Sq Ft
- Zoning
- s-3
- Days on market
- 377
- MLS® Listing#
- CA1039367
Property Features
- Cooling
- Central Air
- Heating
- Forced Air
- Flooring
- Carpet · Concrete · Tile
- Lot features
- Corner Lot
- Construction
- Brick
- Roof
- Flat · Other · Tar/Gravel
- Sewer
- Public Sewer
Financial Details
- HOA
- Yes
- Annual taxes
- $38,477Tax year 2024
- Parcel number
- 14340134015
Directions
Downtown Springfield on the corner of 5th and Capitol.
Listing Courtesy: Garrison Group Keller Williams - 2172410202
Presented by: Melissa Gates
