Seller's Agent in 2025
Jane Hay
The Real Estate Group, Inc.
(217) 414-1203
10 in this area
764 Total Sales
1115 S 2nd St Springfield, IL 62704
Vinegar Hill Neighborhood
1
Bed
--
Bath
3,893
Sq Ft
9,148
Sq Ft Lot
Highlights
- Forced Air Heating System
- Fenced
- Level Lot
- Springfield High School Rated A-
About This Home
As of February 2025This 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 layout. 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!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,982
Lot Details
- 9,148 Sq Ft Lot
- Lot Dimensions are 59 x 160
- Fenced
- Level Lot
Home Design
- Brick Foundation
- Shingle Roof
- Vinyl Siding
Interior Spaces
- 1 Bedroom
- 3,893 Sq Ft Home
- Unfinished Basement
- Basement Fills Entire Space Under The House
Parking
- 14 Parking Spaces
- Parking Pad
Schools
- Springfield District #186 High School
Utilities
- Forced Air Heating System
- Heat Pump System
Community Details
- Trash Expense $720
Listing and Financial Details
- Assessor Parcel Number 14-33.0-483-029
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Dec 13, 2024
Closed on
Feb 28, 2025
Sold by
Kim Ernest Underwood Declaration Of Trus and Underwood Kim Ernest
Bought by
Arrowhead Investments Llc
Seller's Agent
Jane Hay
The Real Estate Group, Inc.
Buyer's Agent
Jane Hay
The Real Estate Group, Inc.
List Price
$235,000
Sold Price
$197,300
Premium/Discount to List
-$37,700
-16.04%
Views
9
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$22,152
Avg. Annual Appreciation
12.40%
Purchase Details
Closed on
Feb 24, 2023
Sold by
Underwood Kim Ernest
Bought by
Kim Ernest Underwood Declaration Of Trust
Purchase Details
Closed on
Jul 14, 2000
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $197,500 | None Listed On Document | |
| Deed | -- | -- | |
| Deed | $110,000 | -- |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/28/2025 02/28/25 | Sold | $197,300 | -16.0% | $51 / Sq Ft | |
| 01/30/2025 01/30/25 | Pending | -- | -- | -- | |
| 12/13/2024 12/13/24 | For Sale | $235,000 | +56.7% | $60 / Sq Ft | |
| 08/31/2016 08/31/16 | Sold | $150,000 | -14.3% | $54 / Sq Ft | View Prior Sale |
| 08/01/2016 08/01/16 | Pending | -- | -- | -- | |
| 11/19/2015 11/19/15 | For Sale | $175,000 | -- | $63 / Sq Ft |
Source: RMLS Alliance
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $5,182 | $61,694 | $34,243 | $27,451 |
| 2023 | $4,982 | $56,352 | $31,278 | $25,074 |
| 2022 | $4,790 | $53,455 | $29,670 | $23,785 |
| 2021 | $4,631 | $51,453 | $28,559 | $22,894 |
| 2020 | $4,539 | $51,530 | $28,602 | $22,928 |
| 2019 | $4,433 | $51,098 | $28,502 | $22,596 |
| 2018 | $4,396 | $52,027 | $28,372 | $23,655 |
| 2017 | $4,305 | $51,354 | $28,005 | $23,349 |
| 2016 | $4,502 | $53,981 | $27,597 | $26,384 |
| 2015 | $4,458 | $53,336 | $27,267 | $26,069 |
| 2014 | $5,359 | $64,670 | $27,091 | $37,579 |
| 2013 | $5,240 | $64,670 | $27,091 | $37,579 |
Source: Public Records
Agents Affiliated with this Home
-
Jane Hay
-
Ronald Duff
R
Seller's Agent in 2016
Ronald Duff
RE/MAX Professionals
-
E
Buyer's Agent in 2016
Edward Mahoney
IN BETWEEN OFFICES
Map
Source: RMLS Alliance
MLS Number: CA1033984
APN: 14-33.0-483-029
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