Sold
Last Sold Price
14,000 sqft

1025 S 5th St, Springfield, IL 62703

Multi FamilyProperty Type
0.35 acresLot Size
1958Year Built
$69/sq ftPrice per sq ft

Description

Flats On Fifth is a 19-unit multifamily asset in the heart of Springfield offering 19 renovated 1 bed 1 bath units across 2 levels & approx. 14,000 SF, allpositioned next to major demand drivers including Springfield Clinic Main Campus. Units were updated in 2022–2023 with flooring, paint, cabinets/counters as needed& appliances as needed, plus most HVAC has been refurbished or replaced in the last 18 months. Owner is currently replacing the entire roof on the north building. Value-add remains with...Flats On Fifth is a 19-unit multifamily asset in the heart of Springfield offering 19 renovated 1 bed 1 bath units across 2 levels & approx. 14,000 SF, allpositioned next to major demand drivers including Springfield Clinic Main Campus. Units were updated in 2022–2023 with flooring, paint, cabinets/counters as needed& appliances as needed, plus most HVAC has been refurbished or replaced in the last 18 months. Owner is currently replacing the entire roof on the north building. Value-add remains with an approx. 800 SF office space that’s currently vacant, includes 2 bathrooms & can be renovated & leased for additional income. Central,commuter-friendly location surrounded by well-kept commercial properties supports strong tenant demand including mid-term stays like traveling nurses & students.
  • Listed by: Kyle Killebrew 217.741.4040 kyle@kylesells.com • The Real Estate Group, Inc.
Listing closed: 04/17/2026 12:00 AM • Source: RMLS ALLIANCE, MLS#: CA1041899
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Location

Listing Courtesy of The Real Estate Group, Inc.

Sold By The Real Estate Group, Inc.

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Payment Calculator

$7,065 per month

30 year fixed, 7.03% Interest

Principal and Interest

$5,152

Property Taxes

$1,913

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.
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Property Information for 1025 South 5th Street

Property Details

  • Taxes: $22,955 / year
  • MLS Type: Residential Income / Residential Income
  • Parking Total: 30.0
  • Subdivision Name: None

Building Information

  • Residences: 19
  • Year Built: 1958
  • Lot Size: 0.35 AC / 15,340 SF

Summary

Location and General Information
  • City: Springfield
  • County Or Parish: Sangamon
  • Directions: Located on South 5th Street between Scarritt and Allen Streets.
  • Latitude: 39.79017
  • Longitude: -89.65005
  • MLSArea Minor: Springfield
  • Postal Code: 62703
  • State Or Province: IL
  • Zoning: R5-B
Taxes and HOA Information
  • Parcel Number: 14340353025
  • Tax Annual Amount: $22,955
  • Tax Legal Description: N 10' LOT 16 & ALL LOTS 17,18 & 19 BLOCK 15 W HALLENS ADDN (130X152
  • Tax Year: 2024
School Information
  • High School: Springfield District #186
Parking
  • Parking Features: Guest, Other

Property

Lot Information
  • Structure Type: Apartment Building
  • Building Area Total: 14000.0
  • Lot Features: Level
  • Lot Size Dimensions: 130 X 118
  • Number Of Units Total: 19
  • 100 Year Plain: Unknown
  • Certificate Of Zoning: No
Property and Assessments
  • Development Status: Completed
  • Documents Available: None Available
  • Foundation Details: Concrete Perimeter
  • New Construction: No
  • Development Name: Flats on 5th St
  • Year Built: 1958
  • Year Built Source: Public Records
Utilities
  • Number Of Electric Meters: 19
  • Number Of Gas Meters: 19
  • Numberof Water Meters: 19
  • Water Sewer Expense: $0
  • Water Source: Public Sewer, Public

Interior and Exterior Features

Exterior Features
  • Lawn Snow Removal: 8718
  • Roof: Other
  • Construction Materials: Brick
Interior Features
  • Basement: None
  • Cooling: Central Air
  • Heating: Forced Air, Natural Gas
  • Interior Features: Cable Available
  • Laundry Features: Common Area
  • Number Of Central Air Units: 0
  • Number Of Dryers: 2
  • Number Of Heating Units: 19
  • Number Of Ranges: 19
  • Numberof Refrigerators: 19
  • Number Of Washers: 2
  • Number Of Water Heaters: 1
  • Number Of Window Units: 0
  • Operating Recording Device: Video

Multi Family

Income & Expenses
  • Electric Expense: $0
  • Gross Income: $155,178
  • Gross Scheduled Income: $151,678
  • Insurance Expense: $9,000
  • Maintenance Expense: $22,205
  • Manager Expense: $11,684
  • Net Operating Income: $78,270
  • Operating Expense: $53,953
  • Advertising Expense: 0
  • Gas Expense: 0
  • Misc Annual Income: 3500
  • Trash Expense: $2,346
Unit 1
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 1
  • Number Uncovered: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
Unit 2
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 1
  • Number Uncovered: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
Unit 3
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 1
  • Number Uncovered: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
Unit 4
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 1
  • Number Uncovered: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 4

Rental

Rent Information
  • Lease Term: Variable
  • Tenant Pays: All Utilities

Property History for 1025 South 5th Street

DateEvent & SourcePriceAppreciation
Apr 17, 2026

Sold (Public Record)

Public Record #1937779975

$965,000

+6.6% / yr

Apr 17, 2026

Sold

RMLS ALLIANCE #CA1041899

$965,000—
Mar 5, 2026

Pending

RMLS ALLIANCE #CA1041899

—
DateEvent & SourcePrice
04/17/2026

Sold (Public Record)

Public Record #1937779975

$965,000

+6.6% / yr

04/17/2026

Sold

RMLS ALLIANCE #CA1041899

$965,000
03/05/2026

Pending

RMLS ALLIANCE #CA1041899

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public records

1025 South 5th Street

Lot Size

19,760 SqFt

Style

Miscellaneous Commercial

County

SANGAMON

APN

14-34.0-353-025

Schools near 1025 South 5th Street

This home is within Springfield School District 186.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Elizabeth Graham Elementary School
PublicK to 5

Benjamin Franklin Middle School
Public6 to 8

Springfield High School
Public9 to 12

Lawrence Education Center
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Real Estate Group, Inc.

Based on information submitted to the MLS GRID as of 04/22/2026 03:00 PM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.