Shopping Strip
Midtowne Plaza Condominiums
401 N Keller Dr, Effingham, IL 62401
Listing Price: $1,274,000
Investment Overview
Marcus and Millichap is pleased to present for your acquisition review Midtowne Plaza Condominium in Effingham, IL. This 6,000 square foot section of this center is 100% leased with two medical tenants. On either end-cap is Jimmy Johns and Ten Boutique bringing additional traffic and synergy to the center. The two-tenant section of this center with Carle Convenient Care Plus and New Health Chiropractic have been on long term leases with their current operators. New Health has operated at the center since 2011 with multiple extensions show commitment to the site. This center is positioned off N. Keller Drive which boasts over 23,000+ vehicles per day with excellent visibility. Nearby traffic drivers include Papa Johns, Auto Zone, Effingham Junior High School, Effingham High School and Culvers, among others. Carle Convenient Care recently extended its NNN lease that now expires in 2025. The original lease has two rent increases in 2023 & 2024. Carle has a 5-year option with a 3% annual rent bump to help hedge against inflation. Carle is based out of Urbana, IL and has over 11,000+ employees within its hospitals, multi-specialty physician group, health plans and the world's first engineering-based medical school called Carle Illinois College of Medicine. Carle Health was founded in 1918 and the parent company has an investment grade credit rating of ‘AA-’. Both tenants have been in this center for over 10 years. Since New Health was established in 2011, they have been voted People's Choice for Favorite Chiropractor in Effingham four times. The town of Effingham serves a large trade area for eastern and central Illinois well-located at the convergence of Interstates 57 & 70, the main north/south and east/west highways connecting Chicago, St. Louis, Indianapolis, and much of the Midwest with the rest of country. According to the Census Bureau, Effingham County is among just 14 Illinois counties with population growth between 2010 and 2020.
Midtowne Plaza Condominiums
Investment Highlights
- Condo Association | Offering the Middle 6,000sf| Tenants Include Carle Convenient Care Plus (Parent Company 'AA-' Investment Grade Credit and New Health Chiropractic
- Built in 2010 | 100 Percent Leased | Excellent Visibility | Long-Term Medical Operators
- Sits Off of N. Keller Drive Which Boasts a Traffic Count of 19,100 Vehicles per Day
- This Center Sits Close to I-57 which has 43,800 Vehicles per Day | Along with W. Fayette Avenue which has 15,700 Vehicles per Day
- Some Nearby Traffic Drivers Include Papa Johns, Auto Zone, Culvers, Jimmy Johns, Effingham Junior High School and Effingham High School Among Others
- Average Household Income within Five Miles is $84,848 | Population within Five Miles is 19,453
Listing Price: $1,274,000
Investment Highlights
- Condo Association | Offering the Middle 6,000sf| Tenants Include Carle Convenient Care Plus (Parent Company 'AA-' Investment Grade Credit and New Health Chiropractic
- Built in 2010 | 100 Percent Leased | Excellent Visibility | Long-Term Medical Operators
- Sits Off of N. Keller Drive Which Boasts a Traffic Count of 19,100 Vehicles per Day
- This Center Sits Close to I-57 which has 43,800 Vehicles per Day | Along with W. Fayette Avenue which has 15,700 Vehicles per Day
- Some Nearby Traffic Drivers Include Papa Johns, Auto Zone, Culvers, Jimmy Johns, Effingham Junior High School and Effingham High School Among Others
- Average Household Income within Five Miles is $84,848 | Population within Five Miles is 19,453
Investment Overview
Marcus and Millichap is pleased to present for your acquisition review Midtowne Plaza Condominium in Effingham, IL. This 6,000 square foot section of this center is 100% leased with two medical tenants. On either end-cap is Jimmy Johns and Ten Boutique bringing additional traffic and synergy to the center. The two-tenant section of this center with Carle Convenient Care Plus and New Health Chiropractic have been on long term leases with their current operators. New Health has operated at the center since 2011 with multiple extensions show commitment to the site. This center is positioned off N. Keller Drive which boasts over 23,000+ vehicles per day with excellent visibility. Nearby traffic drivers include Papa Johns, Auto Zone, Effingham Junior High School, Effingham High School and Culvers, among others. Carle Convenient Care recently extended its NNN lease that now expires in 2025. The original lease has two rent increases in 2023 & 2024. Carle has a 5-year option with a 3% annual rent bump to help hedge against inflation. Carle is based out of Urbana, IL and has over 11,000+ employees within its hospitals, multi-specialty physician group, health plans and the world's first engineering-based medical school called Carle Illinois College of Medicine. Carle Health was founded in 1918 and the parent company has an investment grade credit rating of ‘AA-’. Both tenants have been in this center for over 10 years. Since New Health was established in 2011, they have been voted People's Choice for Favorite Chiropractor in Effingham four times. The town of Effingham serves a large trade area for eastern and central Illinois well-located at the convergence of Interstates 57 & 70, the main north/south and east/west highways connecting Chicago, St. Louis, Indianapolis, and much of the Midwest with the rest of country. According to the Census Bureau, Effingham County is among just 14 Illinois counties with population growth between 2010 and 2020.
