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1861-1927 E Sangamon Ave
Springfield, IL 62702
Sangamon Center North · Retail Property For Sale
Investment Highlights
- 100% Occupied: Fully leased center providing immediate and stable in -place cash flow with no near-term leasing risk
- Below -Market Rents : Average rents below market provide mark-to-market upside as leases roll
- Well -Maintained Asset: Significant capital improvements completed including roof replacements, parking lot work, and facade upgrades
- Long-Term Tenancy: Many tenants have occupied the center for decades, with an average tenancy exceeding 16 years
- Proven Retail Location: Positioned along E Sangamon Avenue with strong traffic counts and direct access to I-55 and surrounding retail corridors
Executive Summary
Grocery -Anchored Shopping Center: Anchored by Schnucks, a dominant regional grocer generating strong year-over-year sales, driving consistent daily traffic to the center. Strong National Tenant Roster: Diverse mix of national and regional tenants including Planet Fitness, USPS, Pet Supplies Plus, Rent -A -Center, and Sally Beauty
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
140,000 SF
Building Class
B
Year Built/Renovated
1974/2023
Price
$17,385,000
Price Per SF
$124.18
Cap Rate
7.50%
NOI
$1,303,875
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
11.82 AC
Zoning
B-1, S-2 - 60 - Improved Commercial
Parking
794 Spaces (5.68 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Tenant Controlled HVAC
- Air Conditioning
Property Taxes
| Parcel Number | 14-14.0-355-023 | Improvements Assessment | $3,162,663 |
| Land Assessment | $848,439 | Total Assessment | $4,011,102 |
Property Taxes
Parcel Number
14-14.0-355-023
Land Assessment
$848,439
Improvements Assessment
$3,162,663
Total Assessment
$4,011,102
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