- For Sale Contact for pricing
- Property Type Multi-Family
- Property Size 52,707.6 SF
- Units 190
- Lot Size 1.21 Acre
- # of Floors 17
- Year Built 1968
- Year Renovated 2023
- Date Updated Oct 19, 2026
Description
$1,250,000 Starting Bid
Auctioneer: Scott Bowers
Auctioneer Company: c/o Fisher Auction Company Inc.
Auctioneer License: 040000273
** Tours will be available on Tuesday, September 29th, by appointment only. Please reach out to Peter Jankowski or Rich Deptula to schedule your tour. **
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 (see due diligence vault, Offering Memorandum, for more information on the 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.
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.
View details and diligence materials on RI Marketplace:
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Contacts
RealINSIGHT Marketplace
Location
Located at 520 South 2nd Street, Springfield, IL 62701, this property is part of the Old Aristocracy Hill neighborhood and St Louis market.
RealINSIGHT Marketplace
