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    Historic Downtown Bloomington Office Suites Title is generated by Realmo AI

    207 W Jefferson St, Bloomington, IL 61701

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    For Lease
    Contact for pricing

    Variety of office suites available for rent in downtown Bloomington.

    Type:Office
    Property size:
    4,200 SF
    Added:
    Dec 28, 2021
    Days on Market:
    1621
    Last Refresh:
    May 12 at 8:40 pm

    Property Features for 207 W Jefferson St

    General Information

    Standard status
    Active
    Size
    4,200 SF
    Property subtype
    Office

    Building Details

    Year Built
    1902

    Spaces For Lease

    at 207 W Jefferson St Contact us

    Suite 306 $13/Mo

    Size
    2,200 SF
    Type
    Office
    Suite 306 offers 2200 SF of raw space ready to be built out to your specifications....
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    Suite 405 $13/Mo

    Size
    1,000 SF
    Type
    Office
    Suite 405 offers 1,000 SF of office space. This suite is currently configured as...
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    Suite 505 $13/Mo

    Size
    2,500 SF
    Type
    Office
    Suite 505 offers 2,500 SF of office space. Features of this suite include a large...
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    Suite 606 $13/Mo

    Size
    827 SF
    Type
    Office
    Suite 606 offers 1000 SF of raw space ready to be built out to your specifications....
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    Suite 607 $13/Mo

    Size
    1,690 SF
    Type
    Office
    Suite 607 offers 1690 SF of raw space ready to be built out to your specifications....
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    Suite 500 $13/Mo

    Size
    1,090 SF
    Type
    Office
    Suite 500 offers 1,090 SF of move in ready office space. The suite features a spacious...
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    Suite 202 $13/Mo

    Size
    Type
    Office
    Suite 202 offers 1900 SF of office space. This suite sits on the northeast side...
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    Third Floor Single Office - Suite 308 $550/Mo

    Size
    220 SF
    Type
    Office
    This is the last single offices available, located on the third floor of the historic...
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    Suite 303 $13/Mo

    Size
    1,400 SF
    Type
    Office
    Suite 303 offers 1300 SF of office space. The suite features four total private...
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    We can help!

    Listing Contact
    Carrie Tinucci-Troll

    Listing agent Carrie Tinucci-Troll License #IL475166842

    Listing office SVN Core 3

    Listing date Dec 28, 2021

    Source Crexi

    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 SVN Core 3

    HighLights

    • Located in the heart of downtown Bloomington.
    • Variety of suite sizes available, ranging from 230 SF to 4200 SF.
    • Situated in the historic Illinois House building.
    • Commercial real estate space across six floors.
    • Many long‑term tenants in the building.
    • Building constructed in 1902.

    Overview

    Located in the heart of downtown Bloomington, the historic Illinois House building offers a variety of office suites for rent. The building features six floors of commercial real estate space and houses many long-term tenants. Available suites range in size, from single office rooms of 230 square feet to private suites of up to 4200 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    DUI Solutions & Treatment Social Service Agency Thomson & Weintraub Law Firm Illinois House Business Service Center Gina L. Wood Law Firm Joseph W. Foley Law Firm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    McLean
    State
    Illinois
    Longitude
    -88.9949807
    Latitude
    40.4806549

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      Historic Downtown Bloomington Office Suites

      Office suites available in the historic Illinois House building.
      207 W. Jefferson St., Bloomington, IL 61701
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    FAQs

    What type of property is this?
    Office units - Variety of office suites available for rent in downtown Bloomington.
    Where is this office units located?
    The property is located at 207 W Jefferson St Bloomington, IL.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: Located in the heart of downtown Bloomington.; Variety of suite sizes available, ranging from 230 SF to 4200 SF.; Situated in the historic Illinois House building.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Carrie Tinucci-Troll
    Real Estate License ID: IL475166842
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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