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Active - Other for sale

301 N 5TH Street, Springfield, IL

Facts & features

Other Property type
151 days on Beycome
47,916 sqft Lot size

Why you’ll love it

1.10 +/- acre redevelopment opportunity in the Mid-Illinois Medical District, just north of Downtown Springfield. Currently improved as a surface parking lot, but could be a mixed-use development, medical use, or some other higher purpose. Located within the Adirondack TIF District, an Opportunity Zone, and a Cannabis Grants Area. The site has 320' frontage on Madison St. (11,000 AADT) with additional access from N. 5th St. (5,400 AADT). The site is positioned to benefit from the Downtown Springfield & Mid-Illinois Medical District Master Plan, the Springfield Rail Improvements Project, the proposed Medical District expansion, the planned Third Street Greenway (The LINC), and the new SMTD Transportation Hub.

Translating description...

Listings courtesy of Coldwell Banker Commercial Dev as distributed by MLS GRID.

Listed by: Coldwell Banker Commercial Dev

Co-listed by: Coldwell Banker Commercial Dev

Source: RMLS Alliance as distributed by MLS GRID, MLS#: CA1044451 RMLS Alliance as distributed by MLS GRID logo

Based on info available as of Nov 13, 2026 at 1:33 AM EST.

Come see by yourself

Affordability

$195,000$405,000
1%20%
0%90%
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Estimated monthly payment

$2,715/mo

  • Mortgage$1,512
  • Property tax$1,203
  • HOA fee
  • Homeowners insurance
Due at closing$237,705
Down payment held in escrow$59,800
Closing costs$4,485
beycome credit Est.$5,980

Beycome estimates only. Actual amounts and terms vary by lender and location.

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$5,980 Credit back

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Travel times

About Springfield

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This local overview has been generated by Artur AI, for informational purposes only. Please verify all details independently before relying on it.

Flood & climate risk

FEMA Flood Zone X

Outside the high-risk Special Flood Hazard Area — flood insurance is usually optional but still worth considering.

More details

Source: FEMA National Flood Hazard Layer. Confirm on the FEMA Flood Map.

Disclaimer

Based on information submitted to the MLS GRID as of Nov 13, 2026 at 01:33am EST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

$299,000 Listed price

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$5,980 Credit back

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