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Single-Tenant Office

IL Dept of Employment Security | 2311 Hoffman Drive

2311 Hoffman Dr, Effingham, IL 62401

Listing Price: $636,000

Cap Rate
7.05%
Gross SF
6,220
Rentable SF
6,220
Price/Gross SF
$102.25
Lot Size
1.14 acres
Year Built
1989

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale a 6,220 SF single-tenant office property leased to the Illinois Department of Employment Security (IDES).

Investment Highlights

  • Single Tenant State-Leased Office Property: 6,220 SF Office on 1.14-Acres | Built 1989
  • Credit Rated Tenant: Illinois Department of Employment Security (IDES) (S&P: A-)
  • Build to Suit for Tenant: 36 Year Operating History | 5 Year Lease Renewal (May 2023) | 3.2 Years Remaining | (1) 5 Year Option Remaining
  • Exclusive Regional Workforce Location: Only IDES Office Serving Effingham County | Next Closest IDES Office Location in Mt. Vernon (67 Miles)
  • Strategic Location at Hoffman Dr & S Banker St/US-45 (14,400 VPD): Major North-South Corridor with Direct Access to I-70 (45,100 VPD) & I-57 (45,000 VPD), Connecting 75 Percent of the U.S. Population
  • Growing Economic Hub: Home to Major Employers Including PepsiCo, ADM, FedEx Freight, Sherwin-Williams & John Boos & Co.
  • Skilled Workforce Access: Effingham County Draws from a Labor Force of 175,000 Across Surrounding Counties
  • Strong Market Fundamentals: 76 Percent Daytime Population Increase (Within Three Miles) | 29,596 Residents | $90,747 AHHI (Within 10 Miles)

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Single-Tenant Office

IL Dept of Employment Security | 2311 Hoffman Drive

Listing Price: $636,000

Cap Rate
7.05%
Gross SF
6,220
Rentable SF
6,220
Price/Gross SF
$102.25
Lot Size
1.14 acres
Year Built
1989

Investment Highlights

  • Single Tenant State-Leased Office Property: 6,220 SF Office on 1.14-Acres | Built 1989
  • Credit Rated Tenant: Illinois Department of Employment Security (IDES) (S&P: A-)
  • Build to Suit for Tenant: 36 Year Operating History | 5 Year Lease Renewal (May 2023) | 3.2 Years Remaining | (1) 5 Year Option Remaining
  • Exclusive Regional Workforce Location: Only IDES Office Serving Effingham County | Next Closest IDES Office Location in Mt. Vernon (67 Miles)
  • Strategic Location at Hoffman Dr & S Banker St/US-45 (14,400 VPD): Major North-South Corridor with Direct Access to I-70 (45,100 VPD) & I-57 (45,000 VPD), Connecting 75 Percent of the U.S. Population
  • Growing Economic Hub: Home to Major Employers Including PepsiCo, ADM, FedEx Freight, Sherwin-Williams & John Boos & Co.
  • Skilled Workforce Access: Effingham County Draws from a Labor Force of 175,000 Across Surrounding Counties
  • Strong Market Fundamentals: 76 Percent Daytime Population Increase (Within Three Miles) | 29,596 Residents | $90,747 AHHI (Within 10 Miles)

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale a 6,220 SF single-tenant office property leased to the Illinois Department of Employment Security (IDES).

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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