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Springfield, IL Multifamily Homes & Duplexes for Sale

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  • /16

    $150,000

    • 5 Beds
    • 2,843 Sq Ft

    318 S State St, Springfield, IL 62704

    Due to no fault of the seller, buyer lost his financing. Don't miss out on this like brand new duplex with great cash flow. New 50 year roof, plumbing, electrical, siding, insulation, gutters and downspouts & flooring. Plaster removed to studs and new drywall installed. New kitchen cabinets & appliances in unit 2. New HVAC for 3rd level. Square feet believed to be accurate but not warranted.

    Agent Photo

    Edward Bowen

    Keller Williams Capital

    (217) 790-3491

    318 S State St, Springfield, IL 62704
  • /25

    $749,800

    $50K PRICE DROP
    • 8 Beds
    • 6,180 Sq Ft

    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.

    2510 & 2518 W Jefferson St, Springfield, IL 62702
  • /40

    $250,000

    • 5 Beds
    • 2,660 Sq Ft

    910 S 2nd St, Springfield, IL 62704

    Excellent investment opportunity with this fully updated two-story property featuring two separate units—ideal for rental income or multi-generational living. Each unit offers its own private living space with open-concept layouts connecting the living and dining areas, creating a functional and inviting flow. The main floor unit includes two bedrooms and two full bathrooms, while the upper unit

    Ketki Arya The Real Estate Group, Inc.

    910 S 2nd St, Springfield, IL 62704
  • /2

    $160,000

    • 4 Beds
    • 3,420 Sq Ft

    1546 E Cornell Ave, Springfield, IL 62703

    All brick 6 unit 1 story apartment building. Individual electric meters. All units occupied and being sold As Is. Tenants pay electric and gas. House meter for water and sewer pay by landlord.

    Ben Call The Real Estate Group, Inc.

    1546 E Cornell Ave, Springfield, IL 62703
  • /51

    $294,900

    $45K PRICE INCREASE
    • 5 Beds
    • 3,264 Sq Ft

    80 Celeste Ct, Springfield, IL 62703

    Looking for an owner-occupied, income producer, or need space for relatives? Take a look at this solid one-owner, 3200 approx. sqft., custom build, side-by-side brick ranch duplex. Unit 1 is almost 2000 Sqft with 3BDs and 2BA, very large kitchen opening to family room with fireplace. Formal living room has custom wood wall unit and bay window. Step-in shower in the primary bedroom. Each unit has

    Roni Mohan RE/MAX Professionals

    80 Celeste Ct, Springfield, IL 62703
  • /3

    $250,000

    • 4 Beds
    • 6,000 Sq Ft

    524 E Ridgely Ave Unit G, H, I, J, K & L, Springfield, IL 62702

    Great opportunity to own a 6 units just a couple blocks away from Lincoln Park. One building is a 4-plex and the other is a duplex. All fully occupied with a total gross monthly income of $3,850. New roof layover just installed in August 2024. New siding on the 4-plex. Tenant pays for all utilities. Owner pays for garbage expense.

    JAMI WINCHESTER The Real Estate Group, Inc.

    524 E Ridgely Ave Unit G, H, I, J, K & L, Springfield, IL 62702
  • /13

    $399,900

    • 8 Beds
    • 2,752 Sq Ft

    824 E Ridgely Ave, Springfield, IL 62702

    This 4,500 Square Foot, Six unit apartment building offers an outstanding investment opportunity with a variety of recent upgrades. The building itself, has undergone significant updating, including a new roof and all new siding in 2021. All six units have been renovated. With updates like multiple new HVAC systems and water heaters. the sale also includes an additional parcel to the west, with

    Kyle Killebrew The Real Estate Group, Inc.

    824 E Ridgely Ave, Springfield, IL 62702
  • /30

    $650,000

    $75K PRICE DROP
    • 2 Beds
    • 7,692 Sq Ft

    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.

    520 E South Grand Ave, Springfield, IL 62704
  • /12

    $385,000

    • 8 Beds
    • 3,300 Sq Ft

    629 W Washington St, Springfield, IL 62702

    This centrally located 6 unit complex is in a high traffic area, and has a very high occupancy rate. Three units are currently vacant after having performed some tenant clean up, and they are currently undergoing turnover rehab. With Four 2 bedroom/1 bath units, and Two 1 bedroom/1 bath, you will have options to offer incoming tenants. In 2019, the property received substantial updates to

    Joshua Kruse The Real Estate Group, Inc.

    629 W Washington St, Springfield, IL 62702
  • /3

    $49,000

    $6K PRICE DROP
    • 2 Beds
    • 864 Sq Ft

    1713 E Glenn Ave, Springfield, IL 62703

    Attention investors.... This 2 bed, 1 bath property is already tenant-occupied, providing immediate income from day one. Whether you're expanding your portfolio or getting started, this is a turnkey opportunity with built-in returns.

    JAMI WINCHESTER The Real Estate Group, Inc.

    1713 E Glenn Ave, Springfield, IL 62703
  • /3

    $36,000

    $6K PRICE DROP
    • 1 Bed
    • 704 Sq Ft

    1412 N 15th St, Springfield, IL 62702

    *Investor Special* Currently tenant occupied. Just a short walk to Lanphier High School.

    JAMI WINCHESTER The Real Estate Group, Inc.

    1412 N 15th St, Springfield, IL 62702

Why Live in Springfield

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.

Home Trends in Springfield, IL

Housing Trends

Median Sale Price
$186,000
Median Single Family Sale Price
$187,700
Median 2 Bedroom Sale Price
$93,500
Median 1 Bedroom Sale Price
$62,000
Average Price Per Sq Ft
$108
Number of Homes for Sale
64
Last 12 months Home Sales
805
Months of Supply
1.00
Median List Price
$185,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
9%
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