Two-Property Government Office
For Sale
$6,225,000
2001 NE Jefferson Ave, Peoria, IL 61603
Two government office buildings in Peoria are 100% occupied on gross leases with 2% annual rent escalations.
Property Size62,697 SF
Price / SF$99.29
Days on Market83
Property Features for 2001 NE Jefferson Ave
General Information
Standard status
Active
Size
62,697 SF
Property subtype
Government
Lease Type
Gross
Amenities
Lease Backed by State Agency with a Fitch Credit Rating of "A-"
100 Percent Occupied by Illinois Department of Children & Family Services
Attractive Two Percent Annual Rental Increases
Building Details
Building Size
62,697 SF
Listing Agency:
Marcus & Millichap - Chicago Downtown
Listed By:
Frank Roti · License #License(s): IL: 475.139806
(312) 624-7013
Source:
Marcusmillichap
Added: Jun 17
Changed: Sep 5
Last Checked: Sep 7 at 4:45AM
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 Marcus & Millichap - Chicago Downtown
Investment Insights
Based on property information with market context.
This portfolio includes two government office buildings totaling 62,697 square feet in Peoria. The first property at 2001 NE Jefferson Avenue is a 22,000-square-foot building constructed in 1950 on 0.46 acres. The second property at 607 N. Main Street is a 40,697-square-foot building constructed in 1972 on 0.57 acres. Both buildings are 100% occupied by state agencies under gross lease structures with 2% annual rent escalations.
The tenants are backed by the State of Illinois with a Fitch credit rating of “A-.” Lease expiration timing is staggered, with approximately 4.5 years remaining at 2001 NE Jefferson Avenue and approximately 3 years remaining at 607 N. Main Street.
Both properties are positioned along key arterial corridors in Peoria with direct connectivity to major transportation routes including Interstate 74. Jefferson Avenue borders the Fulton Plaza and Warehouse Districts, which the offering notes have seen ongoing revitalization, while Main Street provides access to major institutions including Bradley University, OSF HealthCare, and UnityPoint Health.
The tenants are backed by the State of Illinois with a Fitch credit rating of “A-.” Lease expiration timing is staggered, with approximately 4.5 years remaining at 2001 NE Jefferson Avenue and approximately 3 years remaining at 607 N. Main Street.
Both properties are positioned along key arterial corridors in Peoria with direct connectivity to major transportation routes including Interstate 74. Jefferson Avenue borders the Fulton Plaza and Warehouse Districts, which the offering notes have seen ongoing revitalization, while Main Street provides access to major institutions including Bradley University, OSF HealthCare, and UnityPoint Health.
Key Highlights
- Portfolio of two government office buildings in Peoria, IL: 2001 NE Jefferson Ave and 607 N. Main St
- 22,000 SF building built in 1950 on 0.46 acres at 2001 NE Jefferson Ave, 100% occupied under a gross lease
- 40,697 SF building built in 1972 on 0.57 acres at 607 N. Main St, 100% occupied under a gross lease
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 61603, IL
15,503
Population
8,291
Households
1.9
Avg Household Size
33
Median Age
15%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
3,691
Density / Sq Mi
$40,405
Median Household Income
$29,084
Median Earnings
$976
Median Rent
$73,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Two government office buildings in Peoria are 100% occupied on gross leases with 2% annual rent escalations.
Where is this office building located?
The property is located at 2001 NE Jefferson Ave Peoria, IL.
What is the asking price?
The asking price for this property is $6,225,000.
What are key features of this property?
This property features: Portfolio of two government office buildings in Peoria, IL: 2001 NE Jefferson Ave and 607 N. Main St; 22,000 SF building built in 1950 on 0.46 acres at 2001 NE Jefferson Ave, 100% occupied under a gross lease; 40,697 SF building built in 1972 on 0.57 acres at 607 N. Main St, 100% occupied under a gross lease
