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IL Dept. of Children & Family Services

IL Dept. of Children & Family Services

​100% Occupied by the State of Illinois - Department of Children and Family Services
Property is in Excellent Condition Due to Ongoing Preventive Maintenance of Roof, HVAC and Exterior | All Brick Building

Strong Historical Occupancy | Occupied by Illinois State Agencies Since Construction; 36 Years
DCFS Renewed for Another 5 Years in 2023 | 3.83 Years Remaining Term
Springfield, Illinois State Capital, offers an Optimal Location for State Agencies, Ensuring Strong, Long-Term Tenant Retention
llinois Bonds have been Upgraded to A-

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1124 North Walnut Street, Springfield, IL 62702

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Request Offering Memorandum

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Market Summary

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Price                                    $2,155,270

Cap Rate                             8.50%

NOI                                      $183,198

Rentable SF                        19,755 SF

Price per SF                        $109.10

Year Built                            1989

Lot Size                               1.29 Acres

Description

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Marcus & Millichap is pleased to present 1124 N Walnut Street in Springfield, Illinois. The Property is a 19,755 brick, single-story property that is home to the Illinois Department of Children and Family Services. The property was built in 1989 and has been home to state agencies since its construction. This site is used to intake children in need and has 24-hour on-site security.

 

The current owners are divesting the property as they move towards retirement. They maintain the property to high standards by having the roof, HVAC, and exterior of the property maintained regularly.

 

Springfield is the state capital of Illinois and the city's largest employer, making government leases quite attractive to buyers. The state is a stable tenant who rarely moves their offices and pays their rent on time.

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