Receiver Sale: Lincoln Tower Apartments | 17-Story Value-Add

Highlights:

• 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.

Description:

For more information visit:
https://rimarketplace.com/auction/3395/multifamily/springfield/il?utm_source=brevitas&utm_medium=listing_paid&utm_campaign=october7_2026&utm_content=multifamily_3395


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.


Bidding Opens
Oct 06 12:00 AM
Bidding Closes
Oct 08 12:00 AM

Documents: