1022 High Street
Carlinville, IL 62626 ·
5,605 SF · Office For Sale
|Building Size||5,605 SF||Building Class||B|
|Property Sub-type||Institutional/Governmental||Year Built||1995|
|Property Use Type||Investment||Lot Size||66,956 SF|
|Cap Rate||11%||Parking Ratio||30 / 1,000 SF|
|Listing ID: 13853290||Date Created: 02/06/2004||Last Updated: 05/03/2004|
This offering represents an opportunity for the investor to purchase a single tenant, well built and well maintained; office building located in Carlinville, Illinois, South of Bloomington in Macoupin County. The property is located in a business setting off busy I-4. The single-story office building comprises of 5,605 square feet of rentable area. This building was a build to suit for DCFS, in 1995. They are the original tenant, lease commencing November 1, 1995. They have renewed once for an additional 5 years. There are 30 parking spaces for this free-standing office building. This property is listed at $455,000, which is equivalent to $81.18 per square foot. The going-in capitalization rate is 11.0%. The experienced investor will recognized that he is purchasing this property with a strong credit tenant. The purchaser will have the opportunity to place new debt on the property affording an initial leveraged return on cash invested of approximately 18.6%.
With a population of nearly 7,000 people in the greater Carlinville area, they are unique among towns their size. They enjoy a large historic district, the center of which is the town square. Still the focal point of community activity, the sq. is known for its historic buildings, beautiful gazebo and open air summer concerts. Visible above the building tops is the great dome of the Macoupin County Courthouse, once the largest county courthouse in the country.
Carlinville is more than historic buildings, it's also a cultural center, with excellent educational institutions, leading industry, and entertainment.
It is also the only IL community in Norman Crampton's book, "The 100 Best Small Towns in America."
- Single Story Office Building
- Expansion Land
- Great Location with I-4 Frontage (Broad St)
- Abundant Parking
- Government Credit
- Build to Suit for DCFS in 1995
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