Springfield, IL (CAPITOL CITY NOW) – A downtown Springfield property that’s been on the market for several years now may soon have new life.

The Springfield Business Journal reports the former Sangamo Club may soon have a new owner.

“It’s not quite a done deal yet, but Corky Joyner of Joyner Construction has the former Sangamo Club property under contract,” said Michelle Ownbey, Executive Editor, on the WTAX Morning Newswatch.  He’s currently going through his due diligence, particularly as it relates to the environmental testing.  The last time I spoke to him…he was waiting to get the final bids back.”

The asking price, Owbney said, has gone down about $300,000 over the years, to $599,000 prior to now. But Joyner has some potentially helpful plans for the property.

“His hope…is to convert it into apartments,” said Joyner. “He said it could accommodate between 20 and 40 residential units. Of course, we hear a lot of talk about the need for more people downtown, and more housing downtown, which sort of go hand in hand. You’ve got a lot of major employers, including the two hospitals, and (Southern Illinois University School of Medicine), and the Capitol Complex all within walking distance there.”

The property came on the market in 2022. The original asking price was $1.5 million, and Ownbey says PNC Bank eventually foreclosed on the building.