For Auction
Receivership Sale | 190-Unit High-Rise Apartments | Springfield, IL
Springfield, IL 62701Represented by
Friedman Real Estate
Asset Snapshot
Offering Summary
INVESTMENT HIGHLIGHTS
- Downtown Springfield High-Rise: Seventeen-story multifamily tower rises in the heart of Illinois' state capital city.
- 190-Unit Scale In State Capital Market: One-, two-, and three-bedroom apartments span all 190 units within this 17-story tower.
- Steps From The Illinois State Capitol: Near the Capitol complex, downtown employers, restaurants, and entertainment options.
- Amenity-Rich High-Rise Living Package: Fitness center, clubroom, business lounge, parking garage, and elevators all included.
- Anchored By Major Employment Generators: Close to government, healthcare, education, and transportation employers throughout city.
- Value-Add Upside Still On The Table: Room remains for unit upgrades, commercial suite lease-up, and NOI improvement plans.
OFFERING SUMMARY
Brokered by Friedman Real Estate and powered by RealINSIGHT Marketplace, 520 S 2nd Street in Springfield, Illinois is a 190-unit, 17-story multifamily high-rise offered via receivership reserve auction. Built in 1968 and renovated 2015-2023, the ±1.21-acre property includes 10 second-floor commercial suites totaling ±11,246 SF and was 84.21% occupied as of June 2026. The tower offers a mix of one-, two-, and three-bedroom units alongside amenities including a fitness center, clubroom, business lounge, and parking garage. Located in downtown Springfield near the Illinois State Capitol and major government, healthcare, education, and transportation employers, Lincoln Tower gives investors a centrally located multifamily asset with clear upside through continued unit upgrades, commercial lease-up, and operational improvements.
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5% or $25,000 minimum
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
