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1501 N Water St
Decatur, IL 62526
Office Property For Sale
Executive Summary
The subject property is currently set up for both medical and/or office space. The building was originally constructed in 1978 and had the roof replaced in 2025. The HVAC systems are also new in 2026. The building has a partial basement that is roughly 1,421 SF with a clear height of 8'. The building has three separate entrances and could be subdivided if desired. The building consists of five private offices, four exam rooms, three large open rooms, one large open area, one large kitchen area, storage room, six separate restrooms, and three separate lobby/reception areas.
Area Description
The subject property is centrally located in Decatur and on a main arterial road, which has around 10,900 vehicles per day. Decatur’s major employers in the area are ADM, Decatur Memorial Hospital, Caterpillar, Decatur Public Schools and Millikin University.
Area Description
The subject property is centrally located in Decatur and on a main arterial road, which has around 10,900 vehicles per day. Decatur’s major employers in the area are ADM, Decatur Memorial Hospital, Caterpillar, Decatur Public Schools and Millikin University.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
6,140 SF
Building Class
B
Year Built
1978
Price
$250,000
Price Per SF
$40.72
Percent Leased
Vacant
Building Height
1 Story
Typical Floor Size
6,140 SF
Building FAR
0.18
Lot Size
0.78 AC
Zoning
B-1 - Neighborhood Shopping District (City of Decatur)
Parking
45 Spaces (7.33 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 04-12-10-278-031 | Improvements Assessment | $13,687 |
| Land Assessment | $10,409 | Total Assessment | $24,096 |
Property Taxes
Parcel Number
04-12-10-278-031
Land Assessment
$10,409
Improvements Assessment
$13,687
Total Assessment
$24,096
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