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1001 North Walnut Street

Illinois Health & Human Services Office Sold In Springfield For $1.1M&
SOLDOffice

Illinois Health & Human Services Office Sold In Springfield For $1.1M&

1001 North Walnut Street

$1,095,000

$76/SF

Building Size

14,350 SF

Asset Type

Office

Closing

Oct 25, 2023

AI

Illinois Health & Human Services, a 14,350-square-foot office property located at 1001 North Walnut Street in Springfield, was recently sold for $1,095,000. The property is fully occupied by the State of Illinois and was listed by Tammy A. Saia and Tami Andrew of Marcus & Millichap. The sale was completed by a Texas-based group.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $1,095,000
  • Address: 1001 North Walnut Street, Springfield
  • Market: Springfield

The brokers representing the transaction were Tami Andrew and Tammy Saia from Marcus & Millichap. They played a crucial role in facilitating the sale of this fully-occupied office property. The private investor, represented by Saia and Andrew, successfully closed the deal with the Texas-based group.

Players

Tammy Saia

Marcus & Millichap

Broker

$25.9M

vol

10 deals

Broker

Springfield Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

14.49%

Cash-on-Cash

-4.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93