Shopping Community
Auction - CSL & Illinois DHS Anchored Center | $177,250 NOI | Double Digit Cap Rate
1021 N Water St, Decatur, IL 62523
Listing Price: $500,000
Investment Overview
Marcus & Millichap and RI Marketplace are pleased to present the opportunity to acquire the 1018 & 1021-1029 North Water Street in Decatur, Illinois (the “Property”). The Property provides the opportunity for a new owner to purchase an easy to manage, two national credit tenant center that provides generous cash flow. The Property consists of a single-story building totaling 21,294 SF on a 1.24-acre parcel as well as a surplus parking lot on a separate 0.39-acre parcel. The building is 100% occupied by CSL Plasma and the State of Illinois Department of Human Services. CSL Plasma has been a tenant since 1996 and completed a $600,000 in improvements a few years ago showing their commitment to the site. The State of Illinois moved into the building in 2022 and has a brand-new buildout. With only two tenants plus additional billboard income, the asset is perfect for an investor looking for a passive investment.
Decatur is the largest city and the county seat of Macon County. Decatur has an economy based on industrial and agricultural commodity processing and production, including the North American headquarters of agricultural conglomerate Archer Daniels Midland, international agribusiness Tate & Lyle's largest corn-processing plant, and the designing and manufacturing facilities for Caterpillar Inc.'s wheel-tractor scrapers, compactors, large wheel loaders, mining class motor grader, off-highway trucks, and large mining trucks. The Property has excellent frontage on North Water Street with visibility to traffic counts of 11,835 vehicles per day. The Property benefits from extremely strong demographics with a 2023 population of ±75,985 and an average household income of ±$63,648 within a 5-mile radius.
Investment Highlights
- STARTING BID $500,000 | $177,250 NOI | AUCTION NOVEMBER 13-15, 2023
- NOI = $177,250
- 21,294 SF Two Tenant Retail Building with Billboard Income
- Tenants include CSL Plasma (27 Year Tenure) and Illinois Department of Human Services (2022 Lease Expires 12/31/27, One 5-Year Renewal Option)
- Located Within Federal Opportunity Zone
- 11,835 Cars Passing the Site Daily; Nearby Demand Drivers include Millikin University and Established Residential
- Strong 2023 Demographics with Five Mile Population of ±75,985 and Average Household Income of ±$63,648
Exclusively Listed By
Broker of Record
-
Steven D. Weinstock
Senior Vice President/Regional Manager
Shopping Community
Auction - CSL & Illinois DHS Anchored Center | $177,250 NOI | Double Digit Cap Rate
Listing Price: $500,000
Investment Highlights
- STARTING BID $500,000 | $177,250 NOI | AUCTION NOVEMBER 13-15, 2023
- NOI = $177,250
- 21,294 SF Two Tenant Retail Building with Billboard Income
- Tenants include CSL Plasma (27 Year Tenure) and Illinois Department of Human Services (2022 Lease Expires 12/31/27, One 5-Year Renewal Option)
- Located Within Federal Opportunity Zone
- 11,835 Cars Passing the Site Daily; Nearby Demand Drivers include Millikin University and Established Residential
- Strong 2023 Demographics with Five Mile Population of ±75,985 and Average Household Income of ±$63,648
Investment Overview
Marcus & Millichap and RI Marketplace are pleased to present the opportunity to acquire the 1018 & 1021-1029 North Water Street in Decatur, Illinois (the “Property”). The Property provides the opportunity for a new owner to purchase an easy to manage, two national credit tenant center that provides generous cash flow. The Property consists of a single-story building totaling 21,294 SF on a 1.24-acre parcel as well as a surplus parking lot on a separate 0.39-acre parcel. The building is 100% occupied by CSL Plasma and the State of Illinois Department of Human Services. CSL Plasma has been a tenant since 1996 and completed a $600,000 in improvements a few years ago showing their commitment to the site. The State of Illinois moved into the building in 2022 and has a brand-new buildout. With only two tenants plus additional billboard income, the asset is perfect for an investor looking for a passive investment. Decatur is the largest city and the county seat of Macon County. Decatur has an economy based on industrial and agricultural commodity processing and production, including the North American headquarters of agricultural conglomerate Archer Daniels Midland, international agribusiness Tate & Lyle's largest corn-processing plant, and the designing and manufacturing facilities for Caterpillar Inc.'s wheel-tractor scrapers, compactors, large wheel loaders, mining class motor grader, off-highway trucks, and large mining trucks. The Property has excellent frontage on North Water Street with visibility to traffic counts of 11,835 vehicles per day. The Property benefits from extremely strong demographics with a 2023 population of ±75,985 and an average household income of ±$63,648 within a 5-mile radius.
Exclusively Listed By
Broker of Record
-
Steven D. Weinstock
Senior Vice President/Regional Manager

