$299,000

301 N 5TH Street, Springfield IL, 62701

Price per sqftN/A

Property typeCommercial

Courtesy of Coldwell Banker Commercial Dev, Listing Contact:

Overview

Active

Listed Jun 15, 2026

Updated Jun 23

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.

Additional information

MLS^® ID: CA1044451

Interior Features

Basement: No

Exterior Features

Lot Size: 1.1 Acres

Other Property Details

Taxes: $14,434
Tax Frequency: Annually

Listings courtesy of RMLS Alliance as distributed by MLS GRID

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Based on information submitted to the MLS GRID as of 4:02 AM UTC on 6/23/2026. 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.

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