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987 Clock Tower Dr 11 Unit Apartment Building $1,156,433 CAD ($105,130 CAD/Unit) 9.87% Cap Rate Springfield, IL 62704
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 |
$164,241
|
$19.32
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$164,241
|
$19.32
|
| Taxes |
$24,261
|
$2.85
|
| Operating Expenses |
$25,779
|
$3.03
|
| Total Expenses |
$50,040
|
$5.89
|
| Net Operating Income |
$114,201
|
$13.44
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $164,241 |
| Annual Per SF | $19.32 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $164,241 |
| Annual Per SF | $19.32 |
| Taxes (CAD) | |
|---|---|
| Annual | $24,261 |
| Annual Per SF | $2.85 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $25,779 |
| Annual Per SF | $3.03 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $50,040 |
| Annual Per SF | $5.89 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $114,201 |
| Annual Per SF | $13.44 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,224 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 | $289,289 CAD (2024) |
| Land Assessment | $114,881 CAD (2024) | Annual Taxes | $24,261 CAD ($2.85 CAD/SF) |
| Improvements Assessment | $174,408 CAD (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
14-31.0-376-015
Land Assessment
$114,881 CAD (2024)
Improvements Assessment
$174,408 CAD (2024)
Total Assessment
$289,289 CAD (2024)
Annual Taxes
$24,261 CAD ($2.85 CAD/SF)
Tax Year
2025
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Ape Ridge
987 Clock Tower Dr
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