Springfield Office Building For
For Sale
$1,087,200
1001 N Walnut St, Springfield, IL 62702
Single-tenant office building leased to the State of Illinois.
Property Size14,350 SF
Price / SF$75.76
Days on Market267
Property Features for 1001 N Walnut St
General Information
Standard status
Active
Size
14,350 SF
Class
B
Property subtype
Office
Building Details
Building Size
14,350 SF
Year Built
1996
Listing Agency:
Lee & Associates - Dallas/Fort Worth
(832) 515-4062
Listed By:
Lauren Konen · License #521093
(832) 515-4062
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 20
Last Checked: Aug 20 at 4:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Dallas/Fort Worth
Investment Insights
Based on property information with market context.
The property at 1001 N Walnut Street, Springfield, Illinois, presents an opportunity to acquire a single-tenant office building. Constructed in 1996, the one-story structure comprises 13,590 square feet and is situated on a 0.72-acre lot. The building is 100% leased to the State of Illinois, specifically occupied by the Illinois Prisoner Review Board since 2007. The lease is structured as a Full Service Plus E lease with just under two years of remaining term. 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. The property benefits from 33 surface spaces and is located in an area zoned R-5 (General Residence and Office District). 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. The property is strategically located by a mix of government and service-related uses.
Key Highlights
- 100% leased to the State of Illinois (Illinois Prisoner Review Board), providing stable income.
- Backed by an A- credit rating with a Stable outlook, the State represents a highly secure and creditworthy tenant.
- Strategic downtown Springfield location, less than two miles from the Illinois State Capitol.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,795
Businesses Nearby
Explore this area
Business Placement
Demographics for 62702, IL
33,712
Population
17,083
Households
2
Avg Household Size
41
Median Age
20%
College-Educated
90%
High-School Grad
15.4 sq mi
ZIP Area
2,189
Density / Sq Mi
$52,748
Median Household Income
$38,160
Median Earnings
$858
Median Rent
$102,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-tenant office building leased to the State of Illinois.
Where is this office building located?
The property is located at 1001 N Walnut St Springfield, IL.
What is the asking price?
The asking price for this property is $1,087,200.
What are key features of this property?
This property features: 100% leased to the State of Illinois (Illinois Prisoner Review Board), providing stable income.; Backed by an A- credit rating with a Stable outlook, the State represents a highly secure and creditworthy tenant.; Strategic downtown Springfield location, less than two miles from the Illinois State Capitol.
