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724 N 5th St, Springfield, IL 62702
0 Beds
0 Baths
39,221 sqft

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RARE INVESTMENT OPPORTUNITY near hospitals, downtown Spfld & new YMCA site! DESIRABLE exceptionally well Managed/Maintained (+/-)45 unit TURN-KEY complex is winner of historic preservation awards, includes 9 structures & 3 vac lots occupying nearly an entire square block (SEE ATTACHMENTS for complete list & Rent Roll)! Gross Oper Income is 5yr avg of ACTUAL Rent Receipts & INCL avg Coin-op net inc of $4,133/yr. Maint Exp & Mngmnt estimated. Taxes of $22,581 is Actual 2018 pd in 2019 & includes the 3 lots but NOT 717 N. 6th! 5yr avg for utilities $37,234 TOTAL. Most elec pd by tenant except for hot water. Beautiful 717 N. 6th-currently single family home worth approx $110,000, could convert back to duplex (NO INCOME OR EXPENSES FOR THAT PROPERTY IN ANY OF THE #'s)! 2019 P&L not yet completed, but estimated to reflect Actual NOI of approx $190,000! Eligible for TIF & Entprise zone sales tax exemp. See Agent Remarks & comments w/photos!
  • Price:
  • $2,000,000
  • Square Footage:
  • 39,221
  • Listing ID #:
  • CA190194
  • Street Address:
  • 724 N 5th St
  • City:
  • Springfield
  • State:
  • Illinois
  • Postal Code:
  • 62702
  • County:
  • Sangamon
  • Community:
  • Springfield
  • Subdivision:
  • None
  • Listing Status:
  • Active
  • Basement Description:
  • Partial, Brick
  • Finished Square Feet:
  • 39221
  • Number Of Units:
  • 45
  • Siding:
  • Aluminum Siding, Brick, Wood Siding
  • Total Building Square Footage:
  • 39221
  • Type Of Roof:
  • Composition/Shingles
  • Annual Electric Expenses:
  • 22340
  • Annual Gas Expenses:
  • 14894
  • Annual Gross Income:
  • 314442
  • Annual Insurance Expenses:
  • 10113
  • Annual Maintenance Expenses:
  • 24500
  • Annual Management Expenses:
  • 25155
  • Annual Trash Expenses:
  • 2707
  • Net Operating Income:
  • 196733
  • Conforms To Zoning:
  • R-5b
  • Lot Description:
  • Level, Other Lot Description, Extra Lot
  • Lot Size:
  • 1.94 Acres
  • For Sale Or Lease?:
  • For Sale
  • Originating Mls:
  • Capital Area Association Of Realtors
  • Price Per Square Foot:
  • 50.99
  • Property Taxes:
  • $22,581
  • Tax Year:
  • 2018
  • Parking Description:
  • Parking Slab, Other Garage/Parking
  • Parking Spaces:
  • 67
  • Heating And Air:
  • Forced Air, Gas, Central Air, Window Units, Other Mechanics
  • Laundry:
  • Common
  • Sewage Type:
  • Public Sewer, Public Water
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo
  • Listing Provided By The Real Estate Group Inc.

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