IL Dept. of Children & Family Services
NEW PRICE
IL Dept. of Children & Family Services
​100% Occupied by the State of Illinois - DCFS-Department of Children and Family Services
$250,000 in Tenant-Committed and Completed Improvements – Enhancing Long-Term Stability-High Quality Build-Out
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Mission-Critical Facility Operates 24/7 as a Child Intake Center
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Professional Property Management | Property is in Excellent Condition Due to Ongoing Preventive Maintenance
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DCFS Renewed for Another 5 Years in 2023 | 3.83 Years Remaining Term
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Springfield, Illinois is the State Capital, offers an Optimal Location for State Agencies, Ensuring Strong, Long-Term Strong Historical Occupancy
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Pride of Ownership-Family-Owned Since Development: Originally built in 1989, Ensuring Meticulous Maintenance and Upkeep
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Occupied By Illinois State Since Construction| Retention Illinois Bonds Have Been Upgraded to A-
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Roof is 27 years old; replacement likely needed in 3–5 years. Seller will either replace it or offer a credit at closing (est. cost: $100,000; bids in progress)
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1124 North Walnut Street, Springfield, IL 62702
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Request Offering Memorandum
Market Summary
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Price $2,155,270
Cap Rate 9.13%
NOI $196,807
Rentable SF 19,755 SF
Price per SF $109.10
Year Built 1989
Lot Size 1.29 Acres
Description​
Marcus & Millichap is pleased to present 1124 N Walnut St., Springfield, Illinois, a 19,755-square-foot, single-story brick office building occupied by the Illinois Department of Children and Family Services (DCFS) since its construction in 1989. This mission-critical facility operates 24/7 as a child intake center with on-site security, ensuring continuous use and long-term state commitment.
Long-Term Stability & Strong Tenant Commitment
• The State of Illinois has occupied the property since its inception, underscoring its long-term commitment to the site.
• As a government-leased asset, the property benefits from high tenant retention, making it a low-risk investment with stable cash flow.
• Springfield, as the state capital, is Illinois' largest government employment hub, further solidifying the demand for office space occupied by state agencies.
Pride of Ownership & Hands-Free Management
• Family-Owned Since Development: the property is professionally managed, ensuring meticulous maintenance and upkeep.
• Professional Management: Property management is highly experienced in state leases and renewal processes, offering investors strong support and hands-free ownership, even if unfamiliar with government asset ownership. PM has extensive experience working with state agencies and a deep understanding of government asset ownership and procedural requirements, provides investors with valuable support, ensuring smooth lease administration and renewal negotiations.
• Recent Upgrades-$250,000: The asset has undergone continuous improvements, including new paint, carpet, restructured walls to optimize layout, rear entry door replacement, and routine
maintenance of EPDM roof, HVAC, and exterior, ensuring long-term durability.
• Additional features include a drive-in door and a backup generator, adding to the property's functionality and resilience.
Strategic Location & Additional Land
• The offering includes an adjacent lot behind the property, providing future expansion or development potential.
• Springfield’s role as the seat of Illinois government ensures strong demand for state-occupied properties, making this an attractive and stable investment opportunity.
• This well-maintained, government-leased asset offers secure income, minimal management, and long-term stability, strong tenant retention in a high-demand government market.