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=november4_2026&utm_content=multifamily_3395

* 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.


Bidding Opens
Nov 03 1:00 AM
Bidding Closes
Nov 05 4:00 AM

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