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987 Clock Tower Dr 11 Unit Apartment Building $1,201,857 CAD ($109,260 CAD/Unit) 9.88% Cap Rate Springfield, IL 62704
Investment Highlights
- Desirable West Side of Springfield IL
- Recent Remodels
- High Traffic Area
- Long Term Tenants
- Stabilized Diversified Income
Executive Summary
11-Unit Mixed-Use | 9–10% Cap | High-Income Asset
Exceptional mixed-use investment opportunity in Springfield featuring 11 income-producing units.
6 residential apartments (1 bed / 1 bath, W/D in each unit)
5 commercial units (each with private bathroom)
Annual Gross Income: $120,720
NOI: $83,940
Cap Rate: ~9-10%
Highlights:
Diversified tenant mix
Strong in-place income
Ideal for 1031 exchange or portfolio expansion
Seller is offering properties FSBO and will cooperate with buyer agents. Seller is offering a 2.5% buyer agent commission.
Exceptional mixed-use investment opportunity in Springfield featuring 11 income-producing units.
6 residential apartments (1 bed / 1 bath, W/D in each unit)
5 commercial units (each with private bathroom)
Annual Gross Income: $120,720
NOI: $83,940
Cap Rate: ~9-10%
Highlights:
Diversified tenant mix
Strong in-place income
Ideal for 1031 exchange or portfolio expansion
Seller is offering properties FSBO and will cooperate with buyer agents. Seller is offering a 2.5% buyer agent commission.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$170,692
|
$20.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$170,692
|
$20.08
|
| Taxes |
$25,214
|
$2.97
|
| Operating Expenses |
$26,792
|
$3.15
|
| Total Expenses |
$52,005
|
$6.12
|
| Net Operating Income |
$118,687
|
$13.96
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $170,692 |
| Annual Per SF | $20.08 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $170,692 |
| Annual Per SF | $20.08 |
| Taxes (CAD) | |
|---|---|
| Annual | $25,214 |
| Annual Per SF | $2.97 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $26,792 |
| Annual Per SF | $3.15 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $52,005 |
| Annual Per SF | $6.12 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $118,687 |
| Annual Per SF | $13.96 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,273 CAD | 720 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-31.0-376-015 | Total Assessment | $316,578 CAD |
| Land Assessment | $125,718 CAD | Annual Taxes | $25,214 CAD ($2.97 CAD/SF) |
| Improvements Assessment | $190,860 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
14-31.0-376-015
Land Assessment
$125,718 CAD
Improvements Assessment
$190,860 CAD
Total Assessment
$316,578 CAD
Annual Taxes
$25,214 CAD ($2.97 CAD/SF)
Tax Year
2025
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Ape Ridge
987 Clock Tower Dr
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