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1501 N Water St
Decatur, IL 62526
Office Property For Sale
EXECUTIVE SUMMARY
All-brick, single-story office building available for sale or lease on high-traffic Route 51 with over 10,000 vehicles per day, just one mile north of downtown Decatur. Formerly used as a medical clinic, the building offers a flexible interior layout, partial basement with full bathroom ideal for storage, and professional curb appeal with a concrete parking lot. Significant updates completed in 2024 include a new roof, new gutters, new 5-ton AC unit, two new 96% efficiency furnaces, a built-in microwave oven, and compliance with Decatur’s updated fire code (passed August 2024). Seller financing / Contract for Deed (CFD) available with acceptable down payment—contact brokers for terms. A great opportunity for owner-users or investors seeking visibility, functionality, and recent capital improvements.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
6,140 SF
Building Class
B
Year Built
1978
Price
$276,844 CAD
Price Per SF
$45.09 CAD
Percent Leased
Vacant
Building Height
1 Story
Typical Floor Size
6,140 SF
Building FAR
0.18
Lot Size
0.78 AC
Zoning
MUNICIPAL - B-1 Neighborhood Shopping District (City of Decatur)
Parking
45 Spaces (7.33 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 04-12-10-278-031 | Improvements Assessment | $17,911 CAD |
| Land Assessment | $13,622 CAD | Total Assessment | $31,533 CAD |
PROPERTY TAXES
Parcel Number
04-12-10-278-031
Land Assessment
$13,622 CAD
Improvements Assessment
$17,911 CAD
Total Assessment
$31,533 CAD
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