Office

2055 West Iles Avenue

Listing Price: $1,600,000

Cap Rate
8.23%
Gross SF
11,319
Rentable SF
11,319
Price/Gross SF
$141.36
Lot Size
0.88 acres
Year Built
1985

Investment Overview

Marcus & Millichap has been retained by ownership as the exclusive broker in the sale of 2055 W. Iles Avenue, a fully stabilized, multi-tenant office building in the prestigious submarket Springfield, Illinois. The building is leased to four tenants, including financial services firm Edward Jones, and the Illinois Real Estate Title Center. This single-story, 11,300 square foot office building is 100% occupied with an average remaining lease in place of three and a half years, and has an in-place NOI of $131,643. Springfield, Illinois is located 200 miles southwest of downtown Chicago at the convergence of Interstate 55 and Interstate 72. With a population of 117,000, the city offers a sense of community enjoyed by small towns, while having the benefits of a larger city. Many of the jobs in the city relate to state government, with the State of Illinois employing over 17,000 people across Sangamon County. At a list price of $1,600,000, this investment offers both strong existing cash flow from current operations, as well as additional upside through lease extensions.

Investment Highlights

  • 100% Leased, Multi-Tenant Office Building
  • Year One NOI of $131,643
  • Premium Location With Great Visibility In High Traffic Area

Exclusively Listed By

Listing Price: $1,600,000

Cap Rate
8.23%
Gross SF
11,319
Rentable SF
11,319
Price/Gross SF
$141.36
Lot Size
0.88 acres
Year Built
1985

Investment Highlights

  • 100% Leased, Multi-Tenant Office Building
  • Year One NOI of $131,643
  • Premium Location With Great Visibility In High Traffic Area

Investment Overview

Marcus & Millichap has been retained by ownership as the exclusive broker in the sale of 2055 W. Iles Avenue, a fully stabilized, multi-tenant office building in the prestigious submarket Springfield, Illinois. The building is leased to four tenants, including financial services firm Edward Jones, and the Illinois Real Estate Title Center. This single-story, 11,300 square foot office building is 100% occupied with an average remaining lease in place of three and a half years, and has an in-place NOI of $131,643. Springfield, Illinois is located 200 miles southwest of downtown Chicago at the convergence of Interstate 55 and Interstate 72. With a population of 117,000, the city offers a sense of community enjoyed by small towns, while having the benefits of a larger city. Many of the jobs in the city relate to state government, with the State of Illinois employing over 17,000 people across Sangamon County. At a list price of $1,600,000, this investment offers both strong existing cash flow from current operations, as well as additional upside through lease extensions.

Exclusively Listed By

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