Office Properties for Sale in Springfield, Illinois, offer a unique opportunity for investors to tap into the city's strong government and healthcare sectors. As the capital city of Illinois, Springfield is home to a diverse range of office spaces, from modern high-rise buildings to historic landmarks. With a population of around 114,000 residents, Springfield provides a stable and growing market for office properties. The city's infrastructure, including the City Water, Light & Power and Ameren Illinois, ensures a reliable supply of essential services. Additionally, the Sangamon Mass Transit District (SMTD) and Abraham Lincoln Capital Airport provide convenient transportation options. Springfield is also known for its rich history, cultural attractions, and annual festivals, making it an attractive location for businesses and residents alike. The University of Illinois Springfield and Lincoln Land Community College provide a skilled workforce, and major employers like the Illinois General Assembly and HSHS St. John's Hospital contribute to the city's economic stability.
With 5 Office Properties for Sale in Springfield, investors can choose from a range of options to suit their needs. From small, boutique offices to large, multi-tenant buildings, Springfield's office market offers something for everyone. The city's average price per square foot is $154 USD, with an average size of 77,685 square feet. The largest office property available is 252,063 square feet, offering ample space for businesses of all sizes. In addition to Office Properties, Springfield also offers Commercial Real Estate, Apartment Buildings, Shopping Centers, and Hotels for sale. The city's Commercial Real Estate market is driven by its strong government and healthcare sectors, while Apartment Buildings are in high demand due to the city's growing population. Shopping Centers are conveniently located along major highways, and Hotels cater to the city's many tourists and business travelers. With its diverse range of properties and strong economy, Springfield is an attractive location for investors and businesses alike.
What is the average price per square foot for office properties in Springfield?
The average price per square foot for office properties in Springfield is $154 USD.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Springfield, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed investment decision.
- Class A office properties are typically high-rise buildings with modern amenities, prime locations, and high-quality finishes, attracting top-tier tenants and commanding higher rental rates.
- Class B office properties offer functional space with average amenities, decent locations, and standard finishes, appealing to a broader range of tenants and providing a balance between quality and affordability.
- Class C office properties are often older buildings with limited amenities, less desirable locations, and basic finishes, typically appealing to budget-conscious tenants and investors seeking renovation opportunities.
