Historic Springfield Building Sold After Fire Damage
The former Norb Andy's property at 518 E. Capitol Ave. is under contract for $95,000 following recent fire damage.
Updated on Oct. 10, 2026 in Commercial
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A buyer has entered into a contract to purchase the historic building located at 518 E. Capitol Ave. in Springfield. The sale of the property, which was listed for $95,000, is expected to finalize by the end of October 2026.
Why it matters
The transition of this historic property marks a new chapter for a site that has sat vacant since the closure of Anchors Away in 2023. The incoming owner plans to renovate the building, which holds a place on the National Register of Historic Places.
The property was listed for sale at $95,000. This follows the building's operation as a community landmark for decades before its recent vacancy and fire damage.
The players
David Ridenour
The property owner who held the title to 518 E. Capitol Ave. since 2010.
Virgil Hickox
The historical figure who built the mansion in 1839.
The details
The building, originally constructed in 1839, has hosted various ventures, including the Sangamo Club and Norb Andy's Tabarin. After a fire damaged the third-level rear area on February 28, 2026, the property was temporarily pulled from the market before being relisted. The closing, scheduled for the end of October 2026, will transfer ownership from David Ridenour, who has held the title since 2010.
Timeline
1839: The mansion was originally built by Virgil Hickox.
1938: Norb Andy's Tabarin began its 40-year operation in the building.
2023: The restaurant Anchors Away closed its doors.
February 28, 2026: A fire damaged the third level of the building.
October 2026: The sale of the property is scheduled to close.
Money Landscape
The property remains listed on the National Register of Historic Places, which establishes specific preservation standards for the building. This designation often influences the financial feasibility and renovation requirements for commercial buyers of historic structures.
Prospective investors in historic commercial real estate should account for the potentially higher costs of renovating buildings with preservation designations. Always consult with a tax professional regarding potential tax credits available for rehabilitating historic properties.
The takeaway
Commercial property investments involving historic sites require thorough due diligence regarding structural history and preservation rules. If you are considering an investment in a historic building, consult with a qualified professional to review the specific renovation requirements for your local district.
Further reading
Learn more about local real estate trends in the Commercial section.
Source note: This article includes information reported by Illinois Times, the capital city's weekly source of news, politics, arts, entertainment, culture.
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