Medical and Office
For Lease
$10 SF/Yr
1501 N Water St, Decatur, IL 62526
Updated 1978 building offers flexible medical and office layout with new roof and HVAC.
Space Size6,140 SF
Days on Market58
Property Features for 1501 N Water St
General Information
Standard status
Active
Size
6,140 SF
Property subtype
Office
Additional Details
Traffic Count
10,900 vehicles/day
Clear Height
8 ft
Building Details
Building Size
6,140 SF
Year Built
1978
Year Renovated
2026
Spaces For Lease
at 1501 N Water St Contact us- Size
- 6,140 SF
- Type
- Office
- Lease Type
- NNN
- Sublease
- No
Space Available $10/SF/Yr
Listing Agency:
Coldwell Banker Commercial Devonshire Realty
Listed By:
Zach Wetherell
(217) 352-7712
Source:
Commercialcafe
Added: Jul 10
Changed: Sep 4
Last Checked: Sep 4 at 2:21AM
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 set up for both medical and/or office space in a building originally constructed in 1978. Roof replacement was completed in 2025, and the HVAC systems were replaced in 2026. The building includes a partial basement of approximately 1,421 square feet with a clear height of 8 feet.
The layout supports flexible use, with three separate entrances and the option to subdivide if desired. Interior improvements include five private offices, four exam rooms, multiple large open rooms and open areas, a large kitchen area, a storage room, six separate restrooms, and three separate lobby/reception areas.
Centrally located in Decatur on a main arterial road with approximately 10,900 vehicles per day, the property is near major employers including ADM, Decatur Memorial Hospital, Caterpillar, Decatur Public Schools, and Millikin University.
The layout supports flexible use, with three separate entrances and the option to subdivide if desired. Interior improvements include five private offices, four exam rooms, multiple large open rooms and open areas, a large kitchen area, a storage room, six separate restrooms, and three separate lobby/reception areas.
Centrally located in Decatur on a main arterial road with approximately 10,900 vehicles per day, the property is near major employers including ADM, Decatur Memorial Hospital, Caterpillar, Decatur Public Schools, and Millikin University.
Key Highlights
- 1978 building currently set up for medical and/or office space with flexible interior layout
- Roof replaced in 2025; HVAC systems replaced in 2026
- Partial basement provides ~1,421 SF with 8' clear height
Property Analytics
Property Profile
Current Use
Lease Details
8 ft
Clear height
10,900 VPD
Traffic count
NNN (Triple Net)
Lease Type
$1.50 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
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 1978 building offers flexible medical and office layout with new roof and HVAC.
Where is this medical office space located?
The property is located at 1501 N Water St Decatur, IL.
What is the lease rate?
The lease rate is $10 SF/Yr.
What are key features of this property?
This property features: 1978 building currently set up for medical and/or office space with flexible interior layout; Roof replaced in 2025; HVAC systems replaced in 2026; Partial basement provides ~1,421 SF with 8' clear height
