Springfield's Market Overview 2010-2011

2010- 2011

Springfield, the capitol of Illinois, accounts for approximately half of the population in the metropolitan areas of Sangamon and Menard counties. Springfield’s major employment sectors are government, medical, public service and small business. Money for commercial real estate loans is readily available. Springfield’s current economy has been impacted similar to that of the national economy.

Government is the largest employer in the Springfield area. The two largest private employers in the region are St. Johns Hospital and Memorial Hospital, including SIU School of Medicine. Completed medical developments 2010 include a 50-bed acute care hospital and an orthopedic medical facility with rehabilitation services. During 2010 there have been 4 new construction satellite medical clinics either started or completed and a YMCA facility incorporating some medical services within the facility.

Higher education opportunities include the University of Illinois at Springfield, Southern Illinois University School of Medicine and Lincoln Land Community College. Robert Morris University and Benedictine University at Springfield are the private colleges in the area.

Retail growth in Springfield is recovering slowly with the scheduled opening of Scheels sporting goods chain June, 2011. National chain stores and big-box users like Super Wal-Mart, Menards and Gander Mountain have opened within the past 24 months. Other national chain stores will continue to locate in Springfield. Springfield continues to attract small banks seeking commercial lending opportunities. Farm land sale prices per acre are at a record high, approaching $8,500 per acre. Abraham Lincoln Museum and Library are two prestigious visitor/tourist attractions in Springfield.

Despite the breadth of history, culture and recreational opportunities found in Springfield, the cost of living remains low. Springfield has consistently been one of the most affordable communities in Illinois with robust residential sales in 2010. Recreation opportunities in Springfield are plentiful with over 30 public parks offering tennis courts, ice rings, and swimming pools. There are nine public golf courses, two country club golf courses, indoor/outdoor theatre venues and a 4,235-acre lake.