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987 Clock Tower Dr 11 Unit Apartment Building $850,000 ($77,273/Unit) 9.87% Cap Rate Springfield, IL 62704
Executive Summary
11-Unit Mixed-Use | 9–10% Cap | High-Income Asset
Exceptional mixed-use investment opportunity in Springfield featuring 11 income-producing units.
6 residential apartments (1 bed / 1 bath, W/D in each unit)
5 commercial units (each with private bathroom)
Annual Gross Income: $120,720
NOI: $83,940
Cap Rate: ~9-10%
Highlights:
Diversified tenant mix
Strong in-place income
Ideal for 1031 exchange or portfolio expansion
Seller is offering properties FSBO and will cooperate with buyer agents. Seller is offering a 2.5% buyer agent commission.
Exceptional mixed-use investment opportunity in Springfield featuring 11 income-producing units.
6 residential apartments (1 bed / 1 bath, W/D in each unit)
5 commercial units (each with private bathroom)
Annual Gross Income: $120,720
NOI: $83,940
Cap Rate: ~9-10%
Highlights:
Diversified tenant mix
Strong in-place income
Ideal for 1031 exchange or portfolio expansion
Seller is offering properties FSBO and will cooperate with buyer agents. Seller is offering a 2.5% buyer agent commission.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$120,720
|
$14.20
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$120,720
|
$14.20
|
| Taxes |
$17,832
|
$2.10
|
| Operating Expenses |
$18,948
|
$2.23
|
| Total Expenses |
$36,780
|
$4.33
|
| Net Operating Income |
$83,940
|
$9.88
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $120,720 |
| Annual Per SF | $14.20 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $120,720 |
| Annual Per SF | $14.20 |
| Taxes | |
|---|---|
| Annual | $17,832 |
| Annual Per SF | $2.10 |
| Operating Expenses | |
|---|---|
| Annual | $18,948 |
| Annual Per SF | $2.23 |
| Total Expenses | |
|---|---|
| Annual | $36,780 |
| Annual Per SF | $4.33 |
| Net Operating Income | |
|---|---|
| Annual | $83,940 |
| Annual Per SF | $9.88 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $900.00 | 720 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
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Ape Ridge
987 Clock Tower Dr
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