$150,000
545 S Lincoln Ave, Springfield, IL 62704
Solid income producing 4 plex, close to Washington Park and Downtown. There is plenty of room to pave a parking lot in the rear of the building. Owner pays utilities. Monthly rental income is $2,950, with monthly expenses of $1,015, or annual income of $34,500 with annual expenses of 12,180. Priced at a 14.01 capitalization rate.
Jay Clark
The Real Estate Group, Inc.
(217) 769-8237
$849,900
2309 W Lawrence Ave, Springfield, IL 62704
Well-Maintained 12-Unit Apartment Complex – Excellent Westside Location!This all-brick, 12-unit apartment complex features two buildings, each with 6 spacious units, close to restaurants, offices, and shopping.The property has been well cared for and thoughtfully updated over the years. Recent improvements include:Several new HVAC systems.New flooring and fresh paint in turnover units.Updated
Julie Davis
The Real Estate Group, Inc.
(217) 627-6905
$799,800
2510 & 2518 W Jefferson St, Springfield, IL 62702
Fully Occupied 10-Unit Investment Property on 6.5 Acres Excellent opportunity to own a 10-unit multifamily property located in the desirable Springfield High School District. This property consists of two 5-unit buildings (2510 & 2518 W Jefferson) and is fully rented with a total monthly income of $7,965. Tenants pay electric and gas. Owner pays water, sewer, trash, and mowing. Situated on 6.5
Debra Sarsany The Real Estate Group, Inc.
$109,000
2001 S Spring St, Springfield, IL 62704
Investors take a look at this property that has great cash flow. Currently rented for $1,580 and lease is good through 10/31/2026. Landlord pays for trash and utilities paid by the tenant. Recent improvements include a kitchen update including a recently added dishwasher, new counter tops and sink. Several light fixtures replaced. Flooring on stairway. 4bedrooms and 2 baths make at this price
JAMI WINCHESTER The Real Estate Group, Inc.
$680,000
520 E South Grand Ave, Springfield, IL 62704
Listed under appraised value! This well-maintained 3-story historic brick apartment building is an amazing investment opportunity, featuring 12 fully furnished 1-bedroom units. Each apartment comes move-in ready with a complete furniture package including living room and bedroom sets, kitchen essentials, and flat-screen TVs—making it ideal for both long-term tenants and short-term rental
Debra Sarsany The Real Estate Group, Inc.
$119,900
2339 S 10th St, Springfield, IL 62703
Attention all investors, come check out this great triplex investment opportunity. Electric paid by tenants, has separate meters. Landlord pays for gas, water, & trash. This has great potential of generating income. Located in Harvard Park.
Jerry George The Real Estate Group, Inc.
Springfield's rich historical legacy centers on Abraham Lincoln, with attractions like the Presidential Library and Museum showcasing immersive exhibits and artifacts from his life. The Lincoln Home National Historic Site lets visitors explore the 16th president's only owned residence, while the Old State Capitol State Historic Site stands as the location of his famous "House Divided" speech. Nature lovers frequent Washington Park's botanical gardens and the Thomas Rees Memorial Carillon, one of the world's largest carillons. The Dana-Thomas House exemplifies Frank Lloyd Wright's architectural genius, while Lincoln Memorial Garden provides peaceful walking trails through native Illinois plantings.
The housing market features single-family homes across diverse neighborhoods. Downtown Springfield has a median single-family home price of $105,000, while Washington Park Knolls commands $250,000. Piper Glen represents the luxury market with a median of $436,500. The citywide median sale price sits at $177,500, with one-bedroom condos at $62,000 and two-bedroom condos at $109,900.
Springfield's cost of living runs 9% below the national average. A family with school-age children needs approximately $97,000 annually to live comfortably, while renters require about $51,000. Property taxes in Sangamon County stand at 1.98%, comparing favorably to nearby Bloomington's 2.27%. The city maintains strong public education, with Lincoln Magnet School and Springfield High School earning A minus ratings. Private options include Our Savior's Lutheran School, rated A plus. The University of Illinois at Springfield adds higher education opportunities. Commuters benefit from the Sangamon Mass Transit District bus system and minimal traffic congestion, while Amtrak provides rail service to Chicago and St. Louis.
On average, homes in Springfield, IL sell after 23 days on the market compared to the national average of 55 days. The median sale price for homes in Springfield, IL over the last 12 months is $183,500, up 11% from the median home sale price over the previous 12 months.
As the Illinois state capital, Springfield offers historic homes, spacious lots, and a relaxed pace in the heart of the Midwest.
In Springfield, there are currently 6 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $109,000 to $849,900, there's a range to accomodate every budget. As of March, 2026 the median home price in Springfield is $180,000, while the average sale price is $202,832, offering insights into the local housing market. On average, multi-family homes spend 23 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Springfield, IL.
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