Lifelong Access Acquires Pantagraph Building In Bloomington For $21.7 Million As Buyer's Broker AXIS 360
301 West Washington Street
Building Size
54,000 SF
Asset Type
Office
Closing
Feb 26, 2025
AI
The property involved in this transaction is the historic Pantagraph building located at 301 West Washington Street in Bloomington. The office asset spans 54,000 square feet and was acquired for a total of $21.7 million, funded through a grant. This acquisition aims to repurpose the property into a hub focused on youth support services.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $21.7 million
- Address: 301 West Washington Street
- Market: Bloomington
- Asset Size: 54,000 SF
- Buyer: Lifelong Access
- Brokers: Meghan O’Neal-Rogozinski, Robbie Osenga & Michael O’Neal - AXIS 360 Commercial Real Estate Specialists
Meghan O’Neal-Rogozinski, Robbie Osenga, and Michael O’Neal represented AXIS 360 in brokering this transaction. The collective expertise of these brokers facilitated the sale, which is set to enhance community services aimed at supporting youth.
Players
Bloomington 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93