Illinois State University Acquires 400000 SF Office Campus In Bloomington For $175M

The transaction involved the sale of an office asset located at 1711 General Electric Road in Bloomington. The property spans 28.32 acres and comprises 400,000 square feet, with a sale price of $17,500,000, resulting in a price per square foot of $44.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $17,500,000
• Address: 1711 General Electric Road
• Market: Bloomington
• Acres: 28.32
• Square Footage: 400,000
• Price per Square Foot: $44
• Buyer: Illinois State University
• Brokers: AJ Thoma III - Coldwell Banker Commercial Devonshire Realty; Bob Revoir - Cushman & Wakefield

Coldwell Banker Commercial Devonshire Realty facilitated the sale of Country Financial's main campus to Illinois State University, which plans to convert the space into an engineering campus by fall 2025. The transaction will occur in two phases as Country vacates the property.