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Former Insurance Headquarters/ Law Office 1028 S Grand Ave W 1 900 m² Inoccupé Bureau Vente aux enchères en ligne Springfield, IL 62704
INFORMATIONS PRINCIPALES SUR L'INVESTISSEMENT
- 1028 S Grand Ave W, a former multi-tenant insurance headquarters and law office building, spans 25,062 square feet across 2 floors and a lower level.
- Presented vacant to the market with flexible layouts for shared workspaces and private executive suites.
- Property is centered within the highest population density in Springfield and surrounding communities.
- Highly visible and easily accessible at the signalized intersection of S MacArthur Boulevard (21,000 VPD) and South Grand Avenue W (12,500 VPD).
- In addition to the office, the sale includes the parking lot directly east of the building and a commercial grass lot to the west, zoned S-2.
- Versatile redev. potential - ideal for continued office space or conversion to apartments, condos, co-working suites, or a mixed-use facility.
RÉSUMÉ ANALYTIQUE
The main level and second story span 8,355 square feet each, and the lower level is 4,000 square feet of finished space and 4,355 square feet of unfinished/ storage/mechanical space. There is a dedicated IT space with controlled access, a natural gas CAT backup generator, built-in speakers throughout with music and intercom systems, and a dedicated delivery door with direct access to the basement for loading capabilities. The building is also StormReady certified by the National Weather Service.
1028 S Grand Avenue W is prominently located just outside Downtown Springfield at the heavily traveled and signalized intersection of S MacArthur Boulevard and S Grand Avenue W, with a combined exposure of 33,500 vehicles passing daily. The property is a few blocks from Washington Park and has scenic outdoor recreation options. The office is conveniently located near Interstates 72 and 55 for regional connectivity, and approximately 5 miles from the Abraham Lincoln Capital/ Springfield Airport. United Airlines, American Airlines, Delta, British Airways, and other major airlines service the airport, which is ideal for business travel.
This well-maintained office building is included in the MacArthur TIF District with funding available, as well as the MacArthur Boulevard extension plan, the North anchor for a multi-year IDOT road improvement plan, and a bike path planned to connect to Interurban and Wabash trails. The property is centered within the highest population density in Springfield and surrounding communities. Within a 1-mile radius, there are nearly 7,000 homes with a population of over 13,000. The surrounding neighborhoods are well-established, and homes are in extremely high demand.
Property tours are available by appointment only. Please contact the broker to schedule.
MÉMORANDUM D’INFORMATION Cliquez ici pour accéder à
DATA ROOM Cliquez ici pour accéder à
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
INFORMATIONS SUR L’IMMEUBLE
CARACTÉRISTIQUES
- Accès contrôlé
- Système de sécurité
- Espace d’entreposage
- Climatisation
À PROPOS DU QUARTIER SPRINGFIELD/DECATUR
As the state capital of Illinois, Springfield and the region employ over 35,000 people who work out of 3.6 million square feet of office space across over 130 locations in the area. Its largest subsector is healthcare and human services, which employs 4,300 people, followed by the Department of Corrections and the Environmental Protection Agency, with 1,600 and 1,300 workers, respectively.
In 2023, The Wall Street Journal rated Springfield as the highest-ranking metropolitan area in Illinois. According to the Springfield Sangamon Growth Alliance (SSGA) CEO Ryan McCrady, the area is expecting to receive more than $1.5 billion in economic development opportunities over the next few years.
The adjacent office market to Springfield is Decatur, Illinois, the “Soybean Capital of the World.” Here, the number two crop for the state—and the number one agricultural export—is grown. Soybeans are used in everything from animal feed to printer ink.
As such, Decatur’s top industries pivot around agribusiness. Food processor giant ADM’s largest location and employee base is here, where over 4,300 people live and work out of almost 3 million square feet of office and industrial spaces. Other large employers include agrichemical company Sygenta, with 350 employees, and construction and farming equipment manufacturer Caterpillar, with 150 workers based here.
During the second half of 2023, the Macon, Piatt, and Champaign counties won the prestigious iFAB Tech Hub designation, which showcases the area for rapid growth potential within key technology industries like biomanufacturing. The area stands to gain between $45 million and $75 million in federal funding.
Combined, these two central-state economic hubs have easy access to five Class I commercial railroads and interstates 55, 77, and 57, plus an abundant natural gas supply.
DONNÉES DÉMOGRAPHIQUES
Données démographiques
TAXES FONCIÈRES
| N° de parcelle | Évaluation des aménagements | 352 867 € | |
| Évaluation du terrain | 124 728 € | Évaluation totale | 477 595 € |
TAXES FONCIÈRES
CONSEILLER EN VENTE
CONSEILLER EN VENTE
Bill Marriott Jr.
À PROPOS DE LA TECHNOLOGIE DES ENCHÈRES
CONTACT POUR LES ENCHÈRES
Présenté par
Former Insurance Headquarters/ Law Office | 1028 S Grand Ave W
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Former Insurance Headquarters/ Law Office | 1028 S Grand Ave W
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