Since 1926, the Wilhoit Building has occupied one of the largest commercial blocks in downtown Springfield. Built for local oil magnate Edward M. Wilhoit, the Wilhoit Building housed his company for decades. Other early tenants included the Draghoun Business College and the Dillon Brothers Packard Automobile Agency. By 2005, the ground floor automobile service bays had low, dropped ceilings and small rooms, while the upper floors contained a maze of partitions.

That year, owners Matt Miller, Matthew Miller, and Jeff Schragg began a major rehabilitation of the building. The project restored and in some cases, reconstructed all of the commercial storefronts and carefully replicated an early vehicular door on the north wall. Original terra cotta was cleaned. New windows installed on the north elevation complement the original fenestration. On the rear elevation, construction of a new brick retaining wall and stair structures redefines the elevation and provides better access to the second floor apartments and to parking.

The ground floor now houses retail shops, restaurants, and a large office tenant, while thirty-two spacious apartments fill the second floor. The formerly rundown, partly vacant property is once again a vibrant element of Springfield's revitalized downtown.