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Century building 207 S McLean St 4,120 SF 100% Leased Office Building Lincoln, IL 62656 $345,500 ($83.86/SF) 9% Cap Rate
EXECUTIVE SUMMARY
Great investment property for sale in Lincoln, IL. This third-floor business condominium is located on the south side of the vibrant downtown Lincoln square, at the SW corner of Pulaski St. and South McLean St. The floor is leased to, and fully occupied by a single tenant. The current lease runs through June 23, 2027, with a 3 year renewal option. Lots of natural light throughout the space with beautiful windows overlooking the Logan County Courthouse. This property offers great walkability to nearby restaurants and retail stores. The building is currently fully occupied with professional offices.
Offered at a 9% cap rate - this property is priced to sell!
Offered at a 9% cap rate - this property is priced to sell!
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
4,120 SF
Building Class
C
Year Built
1970
Price
$345,500
Price Per SF
$83.86
Cap Rate
9%
NOI
$31,095
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
4,120 SF
Building FAR
0.39
Lot Size
0.24 AC
Zoning
C - Commercial
1 1
Walk Score®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 08-210-199-01 | Improvements Assessment | $42,360 (2024) |
| Land Assessment | $5,840 (2024) | Total Assessment | $48,200 (2024) |
PROPERTY TAXES
Parcel Number
08-210-199-01
Land Assessment
$5,840 (2024)
Improvements Assessment
$42,360 (2024)
Total Assessment
$48,200 (2024)
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Century building | 207 S McLean St
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