Auction - Olde Towne Apartments | 218 Units | 700 N Bruns Ln
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Auction - Olde Towne Apartments | 218 Units 700 N Bruns Ln 218 Lot Offre d’immeuble d’habitation à 1 065 000 € Springfield, IL 62702
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INFORMATIONS PRINCIPALES SUR L'INVESTISSEMENT
- STARTING BID $1,250,000 | Olde Towne Apartments | 218 Units | Vacant | AUCTION OCTOBER 27-29
- Efficient Unit Mix & Sizes: 1-Bed (33%, ±580 SF), 2-Bed (47%, ±960 SF), 2-Bed,1.5-Bath TH (9%, ±1,100 SF), 2-Bed,1.5-Bath Large TH (11%, ±1,180 SF)
- Employment & Demand Drivers: Springfield MSA anchored by State of Illinois plus large healthcare/education bases
- Scale & Flexibility: 218 units across 25 two and three-story, garden-style buildings on ±11.84 acres - enables phased renovations
- Infill Capital-City Location: Quick access to Route 97/Route 4, ±2.5 miles to Amtrak, ±4 miles to Abraham Lincoln Capital Airport; near bus stops
RÉSUMÉ ANALYTIQUE
Marcus & Millichap is pleased to present Olde Towne Apartments, located at 748 Bruns Lane, Springfield, IL (the “Property”). The Property is a 218-unit, garden-style community on ±11.84 acres with ±190,080 RSF and a balanced mix of 1- and 2-bedroom flats plus townhomes. Built in 1974, the Property’s low-finish vintage and multi-building layout suit a focused value-add program (unit interiors, common areas, curb appeal) that can be executed in phases. The clear utility split (tenant-paid electric; owner-paid water/sewer, gas, trash) and straightforward systems (TPO roofs, thru-wall HVAC, cooling towers) keep capital planning predictable.
As the capital of Illinois, the Springfield area is a hub of public sector activity and is also now a national historical site that draws many tourists to the region. The market is approximately 100 miles from St. Louis and 200 miles from both Chicago and Indianapolis. Location advantages include immediate access to Route 97/4, proximity to Amtrak (~2.5 mi) and Abraham Lincoln Capital Airport (~4 mi), and walkable bus service—plus nearby retail, parks, and schools. Springfield’s role as the Illinois state capital, coupled with major healthcare and education employers, underpins durable renter demand. The Property has a population of ±56,960 residents within a 3-mile radius and an average household income of ±$86,777. Old Towne Apartments offer investors a rare chance to acquire scale at a low-cost basis - positioning buyers to create value through renovations, revenue optimization, and operational efficiencies in a stable, demand-supported submarket.
As the capital of Illinois, the Springfield area is a hub of public sector activity and is also now a national historical site that draws many tourists to the region. The market is approximately 100 miles from St. Louis and 200 miles from both Chicago and Indianapolis. Location advantages include immediate access to Route 97/4, proximity to Amtrak (~2.5 mi) and Abraham Lincoln Capital Airport (~4 mi), and walkable bus service—plus nearby retail, parks, and schools. Springfield’s role as the Illinois state capital, coupled with major healthcare and education employers, underpins durable renter demand. The Property has a population of ±56,960 residents within a 3-mile radius and an average household income of ±$86,777. Old Towne Apartments offer investors a rare chance to acquire scale at a low-cost basis - positioning buyers to create value through renovations, revenue optimization, and operational efficiencies in a stable, demand-supported submarket.
INFORMATIONS SUR L’IMMEUBLE
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TAXES FONCIÈRES
| Numéro de parcelle | 14-29.0-176-026 | Évaluation des aménagements | 1 183 888 € |
| Évaluation du terrain | 204 979 € | Évaluation totale | 1 388 867 € |
TAXES FONCIÈRES
Numéro de parcelle
14-29.0-176-026
Évaluation du terrain
204 979 €
Évaluation des aménagements
1 183 888 €
Évaluation totale
1 388 867 €
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Auction - Olde Towne Apartments | 218 Units | 700 N Bruns Ln
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