Join the great migration back to our nation’s downtowns by moving to, or opening your business in, beautiful and historic downtown Springfield, Illinois.
Since the beginning of 2016, our downtown has welcomed more than 30 new businesses (including seven new restaurants) as well as vibrant new ownerships of some favorite establishments.
Downtown is enjoying a resurgence in downtown living, with an $8 million 79-unit apartment complex built and filled within a year and a $1.5 million rehab with nine apartments leased in its first six months. A $10+ million renovation of three adjoining historic buildings into residential and commercial space by a local developer continues at 6th and Monroe and an $8.5 million renovation of a former church into 25 residential apartments and the new headquarters for the Greater Springfield Chamber of Commerce is now underway.
The $15 million renovation of the Illinois Governors Mansion is a key project in the ongoing revitalization of the neighborhood and business district surrounding the state’s capitol. This area is also headquarters for numerous historic sites supporting the Lincoln Legacy, which attract hundreds of thousands of visitors annually.
Other projects in the immediate vicinity of the Mansion that will come online prior to the State’s Bicentennial in 2018 include the Illinois Realtors Association transforming a parking lot into a pedestrian greenway and a $600,000 beautification project by the City of Springfield to add period lighting to the area adjoining the Lincoln Home alongside private individuals renovating 100+ year old homes.
Other opportunities remain for investment and rehabilitation of currently vacant historic buildings.
“We were able to make the project cash flow…due to help from the city with a low interest loan, structuring the tenants to be first floor retail, second floor office and remaining space residential leases. The first few years, while we lived in one of the apartments, we went out to dinner downtown somewhere different every night.” – Gene Gerber, Commercial Developer
Property for Lease. Leasing 1000 square feet of newly renovated retail space, including a new ADA compliant bathroom and a new exterior facade in the historic building (formerly Corso Jewelers) at 414 E Monroe. Across from the post office, with good car traffic and on an up-and-coming street for entrepreneurs. Contact DSI for more information at 217-544-1723.
Property for Lease or Sale. The Chatterton Place at 431 E Adams — with views from the Old State Capitol Plaza directly across the street — consists of first-floor retail/restaurant space, second-floor commercial office space, and 17 residential units on the third and fourth floors. The building is on a registered historic landmark at city, state and federal levels. Contact Gerber Management at 217-787-7707 for inquiries regarding sale of the entire building. To see leasing rates, click on this link: Chatterton Place
Property for Lease. A turnkey restaurant opportunity in the former Balen’s Bar and Grill at 217 S. 5th St. The price has recently been reduced. Click here to download the leasing brochure. Contact Blake Pryor at Coldwell Banker Commercial Devonshire Realty at 726-3272.
Property for Lease or Sale. A rare opportunity for offices in the heart of downtown, from 225-30,000 sq ft. Convenient parking, on-site management, maintenance, and private security makes the Myers Building and the Old Town Mall distinctive. Contact Stephen D. Myers, President/Managing Broker of Myers Commercial Real Estate, Inc at (217) 747-0019.
Property for Sale. Southwest corner of 4th and Adams with interesting architecture. Adams is a growing block, with multiple new building purchases made in the last six months for a variety of retail and professional uses; plus it’s the nexus of the Old Capitol Farmers Market during the summers. Building is equipped with an elevator and most of the heavy lifting (demolition) has been done. The possibilities are limitless with more than 10k square feet. Call Capital Area Real Estate at 217-306-7445.
Property for Lease. Two leasing opportunities in the former bays of the Food Mart, successfully run by the Pirrera family for many years and adjacent to downtown staple, Gallina’s Pizza. 416 E Monroe is 1000 square feet and 420 E Monroe is 1200 square feet. Contact Blake Pryor at Coldwell Banker Commercial Devonshire Realty at 726-3272. Download the leasing brochure.
Property for Lease. First floor commercial retail spaces available for lease on heavily trafficked Monroe Street, between 5th and 4th. Contact Realtor Jim Skeeters. BOOTH Building first floor 518 East Monroe Street 40’ X 70’
Property for Lease. 104 N 6th St – Private urban office located in the Kerasotes Building at 6th & Washington. The 2nd floor three-room office suite offers a view of the Old State Capitol Plaza. Includes professional co-tenancy, new windows, beautiful terra-cotta exterior, art deco design, and lots of natural light. Site has parking with 2 parking ramps within 1 block and 5 parking ramps within 2 ½ blocks plus on-street parking. Contact Todd Smith, Managing Broker at 217-441-8000 with Todd P Smith Commercial Real Estate.
Property for Sale or Lease. 600 E Adams St-Premier Location-Elegance and Charm-Convenient parking facilities. The building is approx 15,000 sf and includes beautiful views of the Old State Capitol Plaza, high ceilings, tall windows giving lots of natural light, and a very functional floor plan. 2nd floor is for lease and has ~5,000 sf with an open center work area with perimeter offices and a kitchenette. Contact Todd Smith, Managing Broker at 217/441-8000 at Todd P Smith Commercial Real Estate.
Property for Lease. Third floor office space available in the Fifth Street Flower Shop building located at the corner of 5th and Lawrence. 3000 SF available for use. Plenty of on-site parking available. Read more then contact Tyler Smith at Garrison Group.
Property for Lease. Second and third floor office space available in the Resource One building located at the corner of 4th and Adams. Roughly 2000 SF of space available. Located near the Capitol and the Sangamo Club. Download details then contact Tyler Smith at Garrison Group.
Property for Sale. 401 E Washington is a must see if you are in the market for a prominent 24,000+ sq ft investment property or redevelopment opportunity. Highlights include: First floor commercial uses in place – call for details of occupancy, currently built out as office space, floor plans developed for conversion to upper-story residential, prime location for redevelopment in the Downtown TIF District. Contact Todd Smith, Managing Broker at 217-441-8000 with Todd P Smith Commercial Real Estate.