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Springfield, IL Multifamily Homes & Duplexes for Sale

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  • /25

    $749,800

    • 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
  • /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
  • /15

    $150,000

    • 5 Beds
    • 2,743 Sq Ft

    1038 N 1st St, Springfield, IL 62702

    Calling all investors! This super conveniently located rental property sits just blocks from Memorial Medical Center and SIU School of Medicine, and offers the perfect spot to house medical students and traveling nurses. Currently fully leased, so income will be immediately generated. This single family home was duplexed in the 1990's, and has seen replaced siding, windows, some updated HVAC, &

    Joshua Kruse The Real Estate Group, Inc.

    1038 N 1st St, Springfield, IL 62702
  • /30

    $650,000

    • 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
  • /19

    $119,900

    • 5 Beds
    • 2,070 Sq Ft

    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.

    2339 S 10th St, Springfield, IL 62703
  • /39

    $300,000

    • 4 Beds
    • 3,000 Sq Ft

    232 Dickinson Rd, Springfield, IL 62704

    Attention investors! Don’t miss this well-maintained, income-producing duplex in the heart of Springfield’s Knox Knolls neighborhood. This property includes 232 Dickinson Rd. and 2345 Gillespie Ave., each offering 2 bedrooms and 1.5 baths. The Dickinson side features a 2 car garage, while the Gillespie side includes a 1 car garage. Both units share a fenced backyard, providing added appeal for

    Melissa Vorreyer RE/MAX Professionals

    232 Dickinson Rd, Springfield, IL 62704

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
$185,000
Median Single Family Sale Price
$186,000
Median 2 Bedroom Sale Price
$92,000
Median 1 Bedroom Sale Price
$62,000
Average Price Per Sq Ft
$108
Number of Homes for Sale
56
Last 12 months Home Sales
810
Months of Supply
0.80
Median List Price
$185,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
9%
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