301 N 5th Street
Springfield, IL 62701
1.10Acres(Lot)
1.10 +/- acre redevelopment opportunity in the Mid-Illinois Medical District, just north of Downtown Springfield. Currently improved as a surface parking lot, but could be a mixed-use development, medical use, or some other higher purpose. Located within the Adirondack TIF District, an Opportunity Zone, and a Cannabis Grants Area. The site has 320' frontage on Madison St. (11,000 AADT) with additional access from N. 5th St. (5,400 AADT). The site is positioned to benefit from the Downtown Springfield & Mid-Illinois Medical District Master Plan, the Springfield Rail Improvements Project, the proposed Medical District expansion, the planned Third Street Greenway (The LINC), and the new SMTD Transportation Hub.
Property Details
Map
Map
What's Nearby
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Features
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Lot Information
Lot Dimensions: 120 x 320 x 187 Lot Size Acres: 1.1 Lot Description: Corner LotProperty Information
Subdivision: Edwards Source Property Type: Land MLS Area Minor: Springfield
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Listing Price Information
Listing Price: $299000
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Tax Information
Parcel Number: 14-27.0-352-017 Tax Year: 2025 Annual Tax: $14434.44 Tax Legal Desc: 1.10 +/- acre redevelopment opportunity in the Mid-Illinois Medical District, just north of Downtown
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Homeowners Association InformationHas Association: Yes
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School Information
Elementary School:Junior High School:Senior High School: Springfield District #186 -
Utility Information
Electricity Available, Natural Gas Available, Other -
Location Information
Direction: 2 parcels on the north side of E. Madison St between N. 4th St & N. 5th St.
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 001 Dirksen Parkway, Springfield, IL, 62701 | $8,000 | -- | -- | -- | Acres (Lot)-- |
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Nearby For Sale
Based on information submitted to the MLS GRID as of 08/23/2026 @ 05:35. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
ByOwner last updated this listing 08/23/2026 @ 05:35
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