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$1 Auction – 26,947 SF Industrial Warehouse 1015 W Jefferson St 26,947 SF Industrial Building Vandalia, IL 62471 $205,561 CAD ($7.63 CAD/SF)
Investment Highlights
- ABSOLUTE $1 AUCTION | 26,947 SF Industrial Warehouse | AUCTION JUNE 8-10
- Functional industrial layout with 2 dock-high doors, 11-foot clear height, wet sprinklers, and ±2,250 SF of office, supporting warehouse, service
- Recent physical updates include a 2021 renovation and a Duro-Fleece roof replaced in 2014, reducing near-term capital concerns.
- ±26,947 SF vacant warehouse on ±1.84 acres with immediate availability for an owner-user, investor, or light industrial occupant.
- Heavy power infrastructure with 400A, 440V 3-phase service and building-wide air circulation systems, attractive for users requiring power-intensive
- Strategic logistics location just off I-70 in Vandalia with strong regional connectivity, approximately one hour from St. Louis.
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1015 West Jefferson Street in Vandalia, Illinois. The Property offers a practical small-bay industrial profile with dock loading, heavy power, office buildout, sprinklers, and recent renovations, making it well suited for an owner-user seeking a low-basis occupancy solution or an investor targeting lease-up.
The subject property consists of approximately 26,947 square feet of warehouse space and is situated on 1.84 acres of land. The single-tenant asset features a clear height of 11’, two dock-high doors, masonry construction, and excess land for additional parking. Replaced in 2014, the well-conditioned roof passed a 2023 inspection. Equipped with 400 amps of heavy power, the property contains air circulation systems throughout the building. For sale as vacant, the property is ideal for owner use, with ownership costs now competing with leasing costs. With close proximity to Interstate 70, the asset sits an hour’s drive from downtown Saint Louis, Missouri in the Effingham/Central Illinois submarket.
Effingham/Central Illinois is a large submarket containing 40 million square feet of industrial space across a large area. While net absorption has contracted through the first three quarters of 2024, the vacancy rate only increased 80 basis points to 2.9 percent. During Q3, annual rent growth slowed 100 basis points to 2.4 percent but has kept pace with the Consumer Price Index. Asking rents averaged about $6.40 per square foot in Q3, offering tenants a 9 percent discount compared to the nearby Saint Louis market. With only 125,000 square feet of industrial space under construction in Effingham/Central Illinois, new supply will essentially be a non-factor on vacancies and rents for the foreseeable future (CoStar).
The Saint Louis metro is near the geographic center of the United States, within 500 miles of one-third of the U.S. population. About 2.8 million people call the metro area home, with Saint Louis hosting over 319,000 residents. Located at the confluence of the Mississippi and Missouri rivers, the metro area encompasses counties in both Missouri and Illinois. The economy of Saint Louis is anchored by the logistics industry, with trade, transportation, and utilities accounting for the largest share of employment. As Saint Louis continues to be a desirable industrial market for investors, a recent report ranked Saint Louis as the tenth industrial market to watch in 2019. The Gateway Arch continues to serve as a major tourist attraction, and residents enjoy a high quality of life with a variety of entertainment options.
The subject property consists of approximately 26,947 square feet of warehouse space and is situated on 1.84 acres of land. The single-tenant asset features a clear height of 11’, two dock-high doors, masonry construction, and excess land for additional parking. Replaced in 2014, the well-conditioned roof passed a 2023 inspection. Equipped with 400 amps of heavy power, the property contains air circulation systems throughout the building. For sale as vacant, the property is ideal for owner use, with ownership costs now competing with leasing costs. With close proximity to Interstate 70, the asset sits an hour’s drive from downtown Saint Louis, Missouri in the Effingham/Central Illinois submarket.
Effingham/Central Illinois is a large submarket containing 40 million square feet of industrial space across a large area. While net absorption has contracted through the first three quarters of 2024, the vacancy rate only increased 80 basis points to 2.9 percent. During Q3, annual rent growth slowed 100 basis points to 2.4 percent but has kept pace with the Consumer Price Index. Asking rents averaged about $6.40 per square foot in Q3, offering tenants a 9 percent discount compared to the nearby Saint Louis market. With only 125,000 square feet of industrial space under construction in Effingham/Central Illinois, new supply will essentially be a non-factor on vacancies and rents for the foreseeable future (CoStar).
The Saint Louis metro is near the geographic center of the United States, within 500 miles of one-third of the U.S. population. About 2.8 million people call the metro area home, with Saint Louis hosting over 319,000 residents. Located at the confluence of the Mississippi and Missouri rivers, the metro area encompasses counties in both Missouri and Illinois. The economy of Saint Louis is anchored by the logistics industry, with trade, transportation, and utilities accounting for the largest share of employment. As Saint Louis continues to be a desirable industrial market for investors, a recent report ranked Saint Louis as the tenth industrial market to watch in 2019. The Gateway Arch continues to serve as a major tourist attraction, and residents enjoy a high quality of life with a variety of entertainment options.
Property Facts
| Price | $205,561 CAD | Lot Size | 1.84 AC |
| Price Per SF | $7.63 CAD | Rentable Building Area | 26,947 SF |
| Sale Type | Investment | No. Stories | 1 |
| Sale Condition | High Vacancy Property | Year Built | 1951 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Clear Ceiling Height | 11’ |
| Building Class | C | No. Dock-High Doors/Loading | 2 |
| Price | $205,561 CAD |
| Price Per SF | $7.63 CAD |
| Sale Type | Investment |
| Sale Condition | High Vacancy Property |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.84 AC |
| Rentable Building Area | 26,947 SF |
| No. Stories | 1 |
| Year Built | 1951 |
| Tenancy | Single |
| Clear Ceiling Height | 11’ |
| No. Dock-High Doors/Loading | 2 |
Amenities
- Signage
Utilities
- Lighting
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 1st Floor
- 26,947 SF
- Industrial
- -
- Now
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 26,947 SF | Industrial | - | Now |
1st Floor
| Size |
| 26,947 SF |
| Space Use |
| Industrial |
| Build-Out |
| - |
| Available |
| Now |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 18-14-16-108-001 | Improvements Assessment | $262,980 CAD |
| Land Assessment | $10,516 CAD | Total Assessment | $273,497 CAD |
Property Taxes
Parcel Number
18-14-16-108-001
Land Assessment
$10,516 CAD
Improvements Assessment
$262,980 CAD
Total Assessment
$273,497 CAD
Contacts
-
Adam Sklaver -
Tyler Sharp -
Philip Kates -
Kyle Hynes -
Steven Weinstock -
Marcus & Millichap
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$1 Auction – 26,947 SF Industrial Warehouse | 1015 W Jefferson St
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