520 E South Grand Ave

Baths
7,692 Sq. Ft.
$94 / Sq. Ft.
7,692
Sq. Ft.
$94
per Sq. Ft.

Description

Listed under appraised value! This well-maintained 3-story historic brick apartment building is an amazing investment opportunity, featuring 12 fully furnished 1-bedroom units. Each apartment comes move-in ready with a complete furniture package including living room and bedroom sets, kitchen essentials, and flat-screen TVs—making it ideal for both long-term tenants and short-term rental opportunities. The property boasts a reliable boiler system providing consistent heat throughout the building,...Listed under appraised value! This well-maintained 3-story historic brick apartment building is an amazing investment opportunity, featuring 12 fully furnished 1-bedroom units. Each apartment comes move-in ready with a complete furniture package including living room and bedroom sets, kitchen essentials, and flat-screen TVs—making it ideal for both long-term tenants and short-term rental opportunities. The property boasts a reliable boiler system providing consistent heat throughout the building, while each unit is equipped with a window A/C for comfort year-round. Newer windows and a roof replacement completed around 2016 ensure long-term durability and energy efficiency. Several apartments received recent upgrades in 2025, including new furnishings, refreshed bathroom vanities, modern cabinetry, updated appliances, and refinished tub/showers. With its combination of historic character, updated features, and turnkey furnished units, this building is a rare investment opportunity offering stable income potential and long-term value. In order to minimize disrupting current tenants, 48 hours notice is required for showings.
  1. Listed by Debra Sarsany • The Real Estate Group, Inc.

Property Details for 520 East South Grand Avenue

Parking Total
12.0
Subdivision Name
None
LISTING UPDATED: 01/14/2026 02:01 PM

Property Details for 520 East South Grand Avenue

StatusActive
MLS #CA1041155
Days on Market21
Taxes$16,662 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Residential Income
Year Built1931
Lot Size0.19 AC / 8,154 SF
CountySangamon County

Location

Listing Courtesy of The Real Estate Group, Inc.
Add your commute

Building Information for 520 East South Grand Avenue

Stories-Residences12Year Built1931Building Size-Lot Size0.19 AC / 8,154 SF

Payment Calculator

$4,922 per month

30 year fixed, 6.15% Interest

Principal and Interest

$3,534

Property Taxes

$1,389

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 520 East South Grand Avenue

Summary
Location and General Information
  • City: Springfield
  • County Or Parish: Sangamon
  • Directions: GPS
  • Latitude: 39.786705443
  • Longitude: -89.64849812
  • MLSArea Minor: Springfield
  • Postal Code: 62703
  • State Or Province: IL
Taxes and HOA Information
  • Parcel Number: 22-03.0-101-009
  • Tax Annual Amount: $16,662
  • Tax Legal Description: W 54'L 1 B 1 E.Isles Sub Lands #1
  • Tax Year: 2024
School Information
  • High School: Springfield District #186
Parking
  • Parking Features: Other
Property
Lot Information
  • Structure Type: Apartment Building
  • Building Area Total: 7692.0
  • Lot Features: Level
  • Lot Size Dimensions: 54x151
  • Number Of Units Total: 12
  • 100 Year Plain: No
Property and Assessments
  • Documents Available: None Available
  • New Construction: No
  • Year Built: 1931
  • Year Built Source: Unable to Verify Actual Age
Utilities
  • Number Of Electric Meters: 12
  • Number Of Gas Meters: 12
  • Numberof Water Meters: 12
  • Water Sewer Expense: $0
  • Water Source: Public Sewer, Public
Interior and Exterior Features
Exterior Features
  • Lawn Snow Removal: 0
  • Roof: Other
  • Construction Materials: Brick
Interior Features
  • Basement: Full
  • Heating: Hot Water, Wall Unit(s)
  • Laundry Features: Common Area
  • Number Of Central Air Units: 0
  • Number Of Heating Units: 1
  • Number Of Water Heaters: 4
  • Operating Recording Device: None
Multi Family
Income & Expenses
  • Electric Expense: $6,000
  • Gross Income: $144,600
  • Gross Scheduled Income: $144,000
  • Insurance Expense: $4,339
  • Maintenance Expense: $1,800
  • Manager Expense: $0
  • Net Operating Income: $107,399
  • Operating Expense: $20,539
  • Advertising Expense: 0
  • Gas Expense: 6000
  • Misc Annual Income: 600
  • Trash Expense: $2,400
Unit 1
  • Fireplace YN: Y
  • 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: Y
  • 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
Rental
Rent Information
  • Lease Term: One Year or Less
  • Annual Vacancy Factor: 16.67

Property History for 520 East South Grand Avenue

DateEvent & SourcePriceAppreciation
Jan 4, 2026

Listed (Active)

RMLS ALLIANCE #CA1041155

$725,000
Dec 31, 2025

Expired

RMLS ALLIANCE #CA1040142

$725,000
Dec 18, 2025

Temporarily Off Market

MRED #1038718

Dec 18, 2025

Temporarily Off Market

MRED #1040142

Dec 17, 2025

Price Change

MRED #1038718

$725,000
Dec 17, 2025

Price Change

MRED #1040142

$725,000
Aug 23, 2025

Listed (Active)

MRED #1038718

$900,000
Aug 23, 2025

Listed (Active)

MRED #1040142

$750,000
Aug 23, 2025

Listed (Active)

RMLS ALLIANCE #CA1040142

$750,000
DateEvent & SourcePrice
01/04/2026

Listed (Active)

RMLS ALLIANCE #CA1041155

$725,000
12/31/2025

Expired

RMLS ALLIANCE #CA1040142

$725,000
12/18/2025

Temporarily Off Market

MRED #1038718

12/18/2025

Temporarily Off Market

MRED #1040142

12/17/2025

Price Change

MRED #1038718

$725,000
12/17/2025

Price Change

MRED #1040142

$725,000
08/23/2025

Listed (Active)

MRED #1038718

$900,000
08/23/2025

Listed (Active)

MRED #1040142

$750,000
08/23/2025

Listed (Active)

RMLS ALLIANCE #CA1040142

$750,000

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

Schools near 520 East South Grand Avenue

This home is within Springfield School District 186.
Rating
School
Type
Grades
Distance
Public - PK to 12
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Edwin A Lee Elementary School
PublicPK to 12

Jefferson Middle School
Public6 to 8

Springfield Southeast High School
Public9 to 12

Springfield Learning Academy
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.

Similar Homes

Similar Sold Homes

520 East South Grand Avenue is a multi-family home for sale in Springfield, IL 62703. This property was listed for sale on January 4, 2026 by The Real Estate Group, Inc., it's currently listed at $725,000. This listing's school district is Springfield School District 186. Nearby schools include Edwin A Lee Elementary School, Jefferson Middle School and Springfield Southeast High School. 520 East South Grand Avenue is a 0-bed, 0-bath, 7,692 sqft multi-family home built in 1931.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims 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 discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Real Estate Group, Inc.

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 01/26/2026 01:50 PM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.