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    401 N Franklin St Danville Danville, IL 61832

    For Sale
    $1,950,000

    Multi-tenant investment property in Danville, Illinois, near downtown.

    Property size:
    3 SF

    Property Features for 401 N Franklin St Danville

    General Information

    Size
    3 SF

    Building Details

    Year built
    1981

    Source: Aj Thoma III, CCIM, SIOR Agent Aj Thoma III, CCIM, SIOR

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multi-Tenant Investment Property For Sale

    This multi-tenant investment property is located just north of Downtown Danville, the county seat of Vermilion County in eastern Illinois, adjacent to the Indiana state line. Danville is situated 35 miles east of Champaign, Illinois, via I-74, 93 miles northwest of Indianapolis, Indiana, via I-74, and 130 miles south of Chicago via Rt. 1. The property is currently leased to the State of Illinois, occupying 401 N. Franklin and 407C N. Franklin. The Illinois Department of Central Management Services (CMS), responsible for state properties, acquisitions, and services, utilizes the space for The Illinois Department of Children and Family Services (DCFS), which occupies 11,700 square feet and is responsible for child protective services, and The Illinois Department of Human Services, which occupies 5,586 square feet and provides safety net services to Illinois residents. Danville Area Community College (DACC), founded in 1946 as an extension of the University of Illinois and now an independent college offering courses in 76 areas of study, occupies 6,204 square feet in 407B N. Franklin. Additionally, there is currently 3,412 square feet of usable vacant space at 407A N. Franklin. The property size is 3 acres.
    Location Intelligence

    Current Use by Public Records

    DCFS Social Services Organization Family Service Department Social Services Organization

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Vermilion
    State
    Illinois
    Longitude
    -87.6307
    Latitude
    40.1365

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    FAQs

    What type of property is this?
    Office building - Multi-tenant investment property in Danville, Illinois, near downtown.
    Where is this office building located?
    The property is located at 401 N Franklin St Danville Danville, IL.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: - Multi-tenant investment property with value-add potential.; - Anchored by the State of Illinois (DCFS and DHS) and Danville Area Community College (DACC) providing stable income.; - Located near Downtown Danville, the county seat of Vermilion County, Illinois.
    (217) 403-3425
    Request Owner's contact information
    401 N Franklin St Danville Danville, IL 61832
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    Danville, IL 61832
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    401 N Franklin St Danville Danville, IL 61832
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