1001 N Walnut St 14,350 SF Office Building Springfield, IL 62702 $1,474,352 CAD ($102.74 CAD/SF) 7.36% Cap Rate

Lee & Associates is pleased to present the opportunity to acquire the fee simple interest in 1001 N Walnut Street, Springfield, Illinois. This single-tenant office building comprises 13,590 square feet on a one-story structure situated on a 0.72-acre lot. The property is 100% leased to the State of Illinois, and is currently occupied by the Illinois Prisoner Review Board. The lease is structured as a Full Service Plus E lease with just under two years of remaining term.
Constructed in 1996, the building has been occupied by a State of Illinois agency since 2007, underscoring its long-standing relationship with the tenant. The State of Illinois, the sixth largest state in the U.S., is headquartered in Springfield, the state capital and the location of this asset.
The state employs approximately 55,340 individuals, with nearly 30% of its workforce is based in Springfield. Backed by an A- credit rating with a Stable outlook, the State represents a highly secure and creditworthy tenant.
The State of Illinois maintains ownership of approximately 8,771 properties totaling 101 million square feet, in addition to leasing 8 million square feet of space statewide. Strategically located in downtown Springfield, less than two miles from the Illinois State Capitol, the subject property benefits from proximity to the core of state government operations, further reinforcing its strategic importance and long-term stability as an investment.