The 37,000-square-foot building at 6 W. High St. was deemed “not economically viable” for refurbishing by Midland Properties, which purchased the building in November.
Midland Properties President Tom Loftis said the building is structurally sound, but the cost to update the structure, which still has a manual elevator and lacks central heating and cooling systems, is not feasible.
Loftis said there are plans for redevelopment on the lot, but could not release details.
It was the first time in years a Springfield building was taken down in that manner, said Randy White, a code enforcement employee for the city of Springfield.
Fountain Avenue between Main and High streets and High Street between Fountain Avenue and Center Street closed from 6 p.m. to 6 a.m. and were expected to be closed again Friday and Monday, city officials said.
About 15 tenants who occupied businesses in the building were told in August they must vacate the building by Oct. 15.