top of page

Illinois Health and Human Services

Illinois Health and Human Services

​

Four Years Left on New Five-Year Extension
Tenant Since 1984

Excellent Location | Near State Capital and Mid Illinois Medical District
All Lighting Has Been Converted to LED
The Current S & P Credit Rating for the State of Illinois Has Been Upgraded to A-

​

1001 North Walnut Street, Springfield, IL 62702

​

Request Offering Memorandum

CLOSED

1001 North Walnut Street, Springfield, IL.PNG
2.PNG
3.PNG

Market Summary

​

Price                                    $1,206,690

Cap Rate                             8.25%

NOI                                      $99,552

Rentable SF                        13,590 SF

Price per SF                        $88.79

Year Built                            1996

Lot Size                               .72 Acres

Description

​

Marcus & Millichap is pleased to present the Department of Health and Human Services building at 1001 N Walnut Street, Springfield, IL. The property has been occupied by the state agency since 1984 and is the only tenant to ever occupy the building. The property was expanded in 1990 to accommodate the agency’s growth.

​

The property is a single-story property with all brick cladding and a flat roof. The current owner has taken great care to maintain the property including installing a new 50 mil Duor-Last membrane in 2017.

​

The buyer of the property will be looking for passive income. The lease is gross but the building is in excellent condition and will require little to no Cap X in the near future. The current lease extension is flat for the extension term.

bottom of page