Medical Office and Office
For Sale
$250,000
1501 N Water St, Decatur, IL 62526
Updated HVAC and roof support a versatile medical or office layout with multiple entrances and exam rooms.
Property Size6,140 SF
Days on Market64
Property Features for 1501 N Water St
General Information
Standard status
Active
Size
6,140 SF
Property subtype
Office
Building Details
Building Size
6,140 SF
Year Built
1978
Year Renovated
2026
Listing Agency:
Coldwell Banker Commercial Devonshire Realty
Listed By:
Zach Wetherell
(217) 352-7712
Source:
Commercialcafe
Added: Jul 13
Changed: Sep 10
Last Checked: Sep 14 at 6:07AM
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 Coldwell Banker Commercial Devonshire Realty
Investment Insights
Based on property information with market context.
The property is currently configured for medical and/or office use and was originally constructed in 1978. The roof was replaced in 2025, and the HVAC systems are new as of 2026. A partial basement provides approximately 1,421 SF with 8’ clear height.
The building includes three separate entrances and could be subdivided if desired. Interior improvements include five private offices, four exam rooms, three large open rooms, one large open area, a large kitchen area, a storage room, and six separate restrooms. It also features three lobby/reception areas, supporting flexible day-to-day access and tenant or patient flow.
Overall, the combination of exam-focused rooms, multiple restrooms, and reception areas makes this building well suited for professional space that may need to balance private offices with open working areas.
The building includes three separate entrances and could be subdivided if desired. Interior improvements include five private offices, four exam rooms, three large open rooms, one large open area, a large kitchen area, a storage room, and six separate restrooms. It also features three lobby/reception areas, supporting flexible day-to-day access and tenant or patient flow.
Overall, the combination of exam-focused rooms, multiple restrooms, and reception areas makes this building well suited for professional space that may need to balance private offices with open working areas.
Key Highlights
- Building constructed in 1978 with roof replaced in 2025 and HVAC systems updated in 2026
- Flexible medical/office layout with five private offices, four exam rooms, multiple open rooms, and a large open area
- Partial basement is about 1,421 SF with 8' clear height
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 62526, IL
31,758
Population
16,425
Households
1.9
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
66.0 sq mi
ZIP Area
481
Density / Sq Mi
$48,222
Median Household Income
$39,048
Median Earnings
$785
Median Rent
$91,500
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated HVAC and roof support a versatile medical or office layout with multiple entrances and exam rooms.
Where is this medical office space located?
The property is located at 1501 N Water St Decatur, IL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Building constructed in 1978 with roof replaced in 2025 and HVAC systems updated in 2026; Flexible medical/office layout with five private offices, four exam rooms, multiple open rooms, and a large open area; Partial basement is about 1,421 SF with 8' clear height
