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301 West Washington Street

Lifelong Access Acquires Pantagraph Building In Bloomington For $21.7 Million As Buyer's Broker AXIS 360
SOLDOffice

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:

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

Meghan O’Neal-Rogozinski

AXIS 360 Commercial Real Estate Specialists

Broker

$11M

vol

8 deals

Broker

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