Versatile Lakefront Headquarters
For Sale
$2,750,000
500 S 27th Street, Decatur, IL 62521
Former Illinois Power HQ with versatile space on 25.8 acres.
Property Size153,021 SF
Lot Size25.80 Acres
Price / SF$17.97
Days on Market150
Property Features for 500 S 27th Street
General Information
Standard status
Active
Size
153,021 SF
Total Parking Spaces
500
Lot size
25.80 Acres
Zoning
Other
Amenities
Two
yes
2
Gas Water Heater
Other
Finished, Unfinished, Full
Elevator(s), Kitchen Facilities
Owner
Public Sewer
no
Public
25.81
500
Acres
On Site
Fence
Asphalt
Basement
1015384
Brick
Building Details
Year Built
1958
Stories
2
Listing Agency:
Brinkoetter REALTORS
(217) 820-0182
Listed By:
Josh Burgener · License #471008359
(217) 820-0182
Source:
Jburgenerrealty.idxbroker
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 22 at 2:57PM
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 Brinkoetter REALTORS
Investment Insights
Based on property information with market context.
This property, formerly the Illinois Power Headquarters, is situated on 25.8 acres overlooking Lake Decatur. The building offers approximately 153,000 square feet of versatile space. Most recently, it served as a modern ministry and education campus. The multi-wing design integrates office infrastructure with commons areas, classrooms, hospitality spaces, and open multi-purpose rooms. Features include a glass-wrapped main lobby, a large café and gathering hall, and a commercial-grade kitchen. Numerous classrooms create an environment suitable for various potential uses. The property includes expansive parking and two out-buildings. Perimeter fencing encloses key portions of the grounds, and multiple entrances serve the parking areas. The buildings have a dumb waiter, a passenger elevator, and a service elevator. The out-buildings feature a total of 7 overhead doors and 2 sliding doors, along with 26 covered carports, making them suitable for fleet management. The property offers capacity and flexibility for expansion or redevelopment in a lake-adjacent, in-town setting.
Key Highlights
- 25.8 acres overlooking Lake Decatur, offering a rare lake‑adjacent in‑town setting.
- Approximately 153,000 square feet of highly versatile space suitable for various uses.
- Multi‑wing design combining office infrastructure with commons, classrooms, hospitality areas, and multi‑purpose rooms.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 62521, IL
33,793
Population
16,169
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
91%
High-School Grad
66.0 sq mi
ZIP Area
512
Density / Sq Mi
$66,848
Median Household Income
$41,945
Median Earnings
$857
Median Rent
$119,900
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?
Mixed-use property - Former Illinois Power HQ with versatile space on 25.8 acres.
Where is this mixed-use property located?
The property is located at 500 S 27th Street Decatur, IL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 25.8 acres overlooking Lake Decatur, offering a rare lake‑adjacent in‑town setting.; Approximately 153,000 square feet of highly versatile space suitable for various uses.; Multi‑wing design combining office infrastructure with commons, classrooms, hospitality areas, and multi‑purpose rooms.
