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3201 W White Oaks Dr
Springfield, IL 62704
Park Place One · Office Property For Sale
Investment Highlights
- Best Product in Market - Class A finishes, upgrades and exceptional maintenance
- Credit Tenancy - Nationally recognized, investment-grade anchor tenants with durable income streams
- Strong Regional Amenities - Excellent regional connectivity, 19K households (3 miles), major retail hub
- High Quality Tenant Pool - Strong, curated tenant mix with operational stability
- Positive Leasing Momentum - 96.79% leased; Recent renewals and lease-up initiatives
- Established and Stable Submarket - Sought-after office submarket in Illinois' state capital
Executive Summary
Park Place One is a 94,029 square foot office building with Class A finishes in Springfield, Illinois. The 4-story building was constructed in 1988 and sits on 5.91 acres. It is the highest quality value-add opportunity in Springfield’s Southwest Submarket. Currently at 96.79% leased, the Property presents an opportunity to acquire a top-of-the-market asset well below the replacement cost in Springfield. Park Place One Business Complex is a Class A business park that caters to a diverse mix of desirable office tenants including Springfield Clinic, IBA, Farnsworth Group, Morgan Stanley, PNC Bank, and many others.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
94,029 SF
Building Class
A
Year Built
1988
Price
$15,292,970 CAD
Price Per SF
$162.64 CAD
Cap Rate
9.44%
NOI
$1,443,537 CAD
Percent Leased
96%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
23,507 SF
Building FAR
0.37
Lot Size
5.91 AC
Zoning
S-2 - Commercial
Parking
402 Spaces (4.28 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 21-12.0-428-011 | Improvements Assessment | $3,672,338 CAD |
| Land Assessment | $960,595 CAD | Total Assessment | $4,632,933 CAD |
Property Taxes
Parcel Number
21-12.0-428-011
Land Assessment
$960,595 CAD
Improvements Assessment
$3,672,338 CAD
Total Assessment
$4,632,933 CAD
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