Multifamily
The Hickox Collection
631 S 4th St, Springfield, IL 62703
Listing Price: Request For Offer
Investment Overview
The Hickox Collection, a 105-Unit portfolio located in downtown Springfield, IL, offers a significant value-add opportunity in a prime location, just steps from the State Capitol and historic downtown Springfield. The Unit mix is comprised of Nine Studios, 39 Renovated Studios, 20 One-Bedroom Units, 34 Renovated One-Bedroom Units, One Loft, and Two Homes. There is an additional Five- Story, ~10,000 Square Feet Structure on-site, suitable for parking or storage, as well as the potential to add 6 to 8 additional Apartment Units.
Approximately $3.7M of renovations has been invested from January 2023 to September 2024. Recent and ongoing capital improvements include: exterior window replacement and painting, facade repairs, significant plumbing and electrical upgrades, tuckpointing and lentil repairs, fresh concrete work around the buildings, new roofs at 606-614 South 4th Street and 301 South Cook Street. 631 South 4th Street improvements also include new hallway carpet and interior paint, a new high-efficiency hot water system and elevator repairs, which have been started, with over $250,000 invested. An estimated$1,060,000 in repairs is still needed to bring additional Units on-line and complete renovations.
With recognition on the National Register of Historic Places, the property qualifies for tax incentives. The Hickox Collection is strategically positioned near the State Capitol, Lincoln Home National Historic Site, and major downtown employers, ensuring consistent rental demand. The site is adjacent to the Illinois Governor’s Mansion, as well as the Dana Thomas House, a tourist attraction, designed by Frank Lloyd Wright.
Springfield is the state capital and largest city in Sangamon County, with a strong economic foundation rooted in government and healthcare sectors. Springfield’s population is just over 211,700 in the metropolitan area. Home to the Illinois General Assembly, the Supreme Court, and the Governor’s Office, Springfield is supported by a steady influx of government professionals. Additionally, the healthcare sector, led by Springfield Clinic and Memorial Medical Center, drives economic diversification. Springfield is undergoing continuous urban improvement, with investments in transportation, public amenities, and utilities, signaling commitment to urban improvement and economic vitality.
Investment Highlights
- PRIME LOCATION, STEPS FROM THE STATE CAPITOL
- ADJACENT TO THE GOVERN'S MANSION AND THE DANA THOMAS HOUSE
- QUALIFIES FOR THE HISTORICAL TAX CREDIT
- SIGNIFICANT RENOVATIONS, BOTH COMPLETED AND UNCOMPLETED
- DIVERSE UNIT MIX, VARIOUS STUDIO AND 1-BEDROOM LAYOUTS, TWO HOMES
- POTENTIAL TO ADD 6-8 ADDITIONAL UNITS
- FIVE-STORY, ~10,000 SQUARE FEET SITE FOR PARKING OR STORAGE
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- PRIME LOCATION, STEPS FROM THE STATE CAPITOL
- ADJACENT TO THE GOVERN'S MANSION AND THE DANA THOMAS HOUSE
- QUALIFIES FOR THE HISTORICAL TAX CREDIT
- SIGNIFICANT RENOVATIONS, BOTH COMPLETED AND UNCOMPLETED
- DIVERSE UNIT MIX, VARIOUS STUDIO AND 1-BEDROOM LAYOUTS, TWO HOMES
- POTENTIAL TO ADD 6-8 ADDITIONAL UNITS
- FIVE-STORY, ~10,000 SQUARE FEET SITE FOR PARKING OR STORAGE
Investment Overview
The Hickox Collection, a 105-Unit portfolio located in downtown Springfield, IL, offers a significant value-add opportunity in a prime location, just steps from the State Capitol and historic downtown Springfield. The Unit mix is comprised of Nine Studios, 39 Renovated Studios, 20 One-Bedroom Units, 34 Renovated One-Bedroom Units, One Loft, and Two Homes. There is an additional Five- Story, ~10,000 Square Feet Structure on-site, suitable for parking or storage, as well as the potential to add 6 to 8 additional Apartment Units. Approximately $3.7M of renovations has been invested from January 2023 to September 2024. Recent and ongoing capital improvements include: exterior window replacement and painting, facade repairs, significant plumbing and electrical upgrades, tuckpointing and lentil repairs, fresh concrete work around the buildings, new roofs at 606-614 South 4th Street and 301 South Cook Street. 631 South 4th Street improvements also include new hallway carpet and interior paint, a new high-efficiency hot water system and elevator repairs, which have been started, with over $250,000 invested. An estimated$1,060,000 in repairs is still needed to bring additional Units on-line and complete renovations. With recognition on the National Register of Historic Places, the property qualifies for tax incentives. The Hickox Collection is strategically positioned near the State Capitol, Lincoln Home National Historic Site, and major downtown employers, ensuring consistent rental demand. The site is adjacent to the Illinois Governor’s Mansion, as well as the Dana Thomas House, a tourist attraction, designed by Frank Lloyd Wright. Springfield is the state capital and largest city in Sangamon County, with a strong economic foundation rooted in government and healthcare sectors. Springfield’s population is just over 211,700 in the metropolitan area. Home to the Illinois General Assembly, the Supreme Court, and the Governor’s Office, Springfield is supported by a steady influx of government professionals. Additionally, the healthcare sector, led by Springfield Clinic and Memorial Medical Center, drives economic diversification. Springfield is undergoing continuous urban improvement, with investments in transportation, public amenities, and utilities, signaling commitment to urban improvement and economic vitality.
Exclusively Listed By

