- For Sale Contact for pricing
- Property Type Multi-Family
- Units 190
- Lot Size 1.21 Acre
- Date Updated Sep 8, 2026
Description
Starting Bid $1,250,000
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. 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.
190-Unit, 17-Story Downtown High-Rise Sale: Built in 1968 and renovated 2015 through 2023, offered via receivership reserve auction process.
84.21% Occupied With Continued Upside: June 2026 occupancy leaves clear room to grow income through continued unit-by-unit turnover.
10 Commercial Suites Diversify Cash Flow: Approximately 11,246 SF of second-floor commercial space supplements the residential rent roll.
Steps From the Illinois State Capitol: Central Springfield location anchors demand from government, healthcare, and education employers.
Auctioneer: Scott Bowers
Auctioneer License: 040000273
Auctioneer Company: c/o Fisher Auction Company Inc.
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Contacts
RealINSIGHT Marketplace
Location
Located at 520 S 2nd St, Springfield, IL 62701, this property is part of the Old Aristocracy Hill neighborhood and St Louis market.
RealINSIGHT Marketplace
