Chatterton Place 421-431 E Adams St

Investment Highlights

On- site parking garage with parking for 20 cars to accomodate residential tenants Excellent downtown Springfield location within walking distance to Lincoln sites and immediately adjacent to Old State Capitol complex

Executive Summary

56,525 square feet of mix-use space. Consists of 16 apartments (11 updated/renovated and no vacancies), One 2500 sqft completely renovated Airbnb with great rental history and future bookings, 5 newly renovated/fully leased retail locations on ground level, and 15,000 SF of commercial office space with over 50% leased. Great Downtown Springfield location directly west of the Old State Capitol. The building comes with a private parking garage with 20 spots for residential tenants. Building has an elevator, new facade on exterior of building, and updated common hallways and new LED lighting. Building is located in the downtown TIF District. Rent Rolls and full financials are available to qualified buyers upon request.

• Sale Type    Investment
• Property Type    Office
• Property Subtype    Office/Residential Office/Residential General Retail Restaurant General Retail Storefront Retail/Office Office/Residential
• Building Size    43,297
• Building Class    B
• Year Built/Renovated    1900/2022
• Price    3,300,000
• Price Per SF    76
• Cap Rate    9.04
• NOI    298,320
• Percent Leased    100
• Tenancy    Multiple
• Building Height    3 Stories
• Typical Floor Size    14,432
• Building FAR    2.32
• Land Acres    0.43 AC

• 24 Hour Access
• Security System
• Basement
• Central Heating
• High Ceilings
• Air Conditioning