Center city property values, buyer interest increasing

by Ruth Scott

SBJ Contributing Writer

As interest in Springfield's center city continues to increase, many real estate agents and property owners predict a resurrection of the area.

Bob McCroskey has been in real estate for 23 years, working in the downtown and Commercial Street areas for most of that time. "I've seen it at its worst, and this is probably its best," he said. "Everything's looking good in both the Commercial Street and Park Central areas. It's in great shape."

Rex Harris, the broker at Queen City Realty, is selling a building on Commercial Street. Harris said a lot of changes are occurring as a result of store owners getting older and retiring.

Someone with ambition and a willingness to work hard could find a good opportunity in the old buildings, he said.

"People are looking for something different, and wanting to start a business," said Rhonda Muelleman of Keller Williams, who has two buildings for sale on Commercial Street. "I've had a lot of interest in those properties," she said.

Efforts to renovate Commercial Street are ongoing. "If they can keep the ball rolling," Muelleman said, "I'd love to see the area similar to The Landing in St. Louis. We could get some good businesses in there, maybe a bigger business, the type of place that would be a tourist attraction."

A native of Springfield, Teresa Cunningham said she has many good childhood memories of Commercial Street. And she has had callers interested in the building she has listed on Commercial Street. "I'm very excited about it."

When Battlefield Mall was built, she said, Commercial Street lost business and began to decline. "About 15 years ago, people I call pilgrims started to improve Commercial Street."

In the last five years, renewed interest in the area has helped revive the neighborhood, and Commercial Street has undergone extensive beautification projects with landscaping and sculpture, Cunningham said. "I think it's just beginning," she said. "It's a fantastic ground-floor opportunity."

The old Heer's building on Park Central Square has attracted a fair amount of attention, said Letty Van Kleeck of Carol Jones, Realtors. "People are actively pursuing or looking at the property, studying the total structure to see if it would meet their needs."

Van Kleeck said there is a lot of interest in the downtown area. "We're seeing such a renewal downtown[[In-content Ad]]