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    1011-1015 Lafayette St Bloomington, IL 61701

    Sponsored
    For Sale
    $1,200,000

    21,762 SF Flex Space, $1.2M

    Property size:
    21,762 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Bloomington, Illinois industrial property presents a unique investment opportunity. Comprising two buildings totaling 21,762 square feet on a 3.6-acre lot, this Class B flex space is zoned M-1 (Restricted Manufacturing). The main building boasts 15,067 square feet of warehouse space and 4,535 square feet of office area. A secondary pole building adds another 2,160 square feet. The property features four 10-foot dock high doors and two loading docks, ensuring efficient material handling. Significant recent improvements include a new $400,000 roof installed in 2023. The property benefits from 3-phase electric service, a fully sprinklered system, energy-efficient LED lighting, and seven rooftop HVAC units providing climate control throughout. The space is heated and cooled, and ample parking is available. The property's previous use as a commercial laundry for medical linens is reflected in existing laundry equipment, which is available for purchase or removal. A filtered drain system is also in place. The property's address is 1011-1015 E. Lafayette St, Bloomington, IL 61701, with McLean County APN 21-10-351-049. This versatile property is ideal for a variety of industrial and flex uses.

    Property Features for 1011-1015 Lafayette St

    General Information

    Property type
    Flex space
    Square Feet
    21,762 SF
    Class
    B
    Lot Size
    156,816 SF

    Building Details

    Year Built
    1970
    Buildings
    2
    Stories
    1

    HighLights

    • $1,200,000 asking price for this 21,762 SF industrial flex property.
    • Located at 1011‑1015 E. Lafayette St, Bloomington, IL 61701, on a 3.6‑acre lot.
    • Features two buildings totaling 21,762 square feet, including 15,067 SF warehouse and 4,535 SF office space, plus a 2,160 SF pole building.
    • Class B industrial building, built in the 1970s (approx.), with one story and M‑1 (Restricted Manufacturing) zoning.
    • Property includes 2 loading docks, 4 dock‑high doors, a new roof (2023), 3‑phase electric, a sprinkler system, LED lighting, and 7 rooftop HVAC units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    McLean
    State
    Illinois
    Longitude
    -88.978587
    Latitude
    40.462821

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    FAQs

    What type of property is this?
    Flex space - 21,762 SF Flex Space, $1.2M
    Where is this flex space located?
    The property is located at 1011-1015 Lafayette St Bloomington, IL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: $1,200,000 asking price for this 21,762 SF industrial flex property.; Located at 1011-1015 E. Lafayette St, Bloomington, IL 61701, on a 3.6-acre lot.; Features two buildings totaling 21,762 square feet, including 15,067 SF warehouse and 4,535 SF office space, plus a 2,160 SF pole building.
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    Realmo Value Estimation

    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.

    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.

    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
    1011-1015 Lafayette St Bloomington, IL 61701
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