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    2203 Empire St Bloomington, IL 61704

    For Sale
    $4,900,000

    High-yield investment opportunity, 100% occupied.

    Property size:
    53,366 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional Class A office building, located at 2203 & 2205 E. Empire in Bloomington, Illinois (61704), presents a compelling investment opportunity. The property boasts a total of 53,366 square feet across two addresses, situated on a 5.34-acre lot (APN: 21-02-226-005 & -006) and zoned B-1. Currently operating at 100% occupancy with a modified lease structure and multi-tenancy, this asset offers a strong, stable income stream. The asking price is $4,900,000, representing a 7.81% cap rate. The building's prime location offers high visibility and traffic counts, situated on a signalized intersection and conveniently close to Veteran’s Parkway, E. Empire (Route 9), and the Central Illinois Regional Airport (CIRA). The property benefits from excellent historical performance, credit tenants, and low vacancy rates. It is well-maintained and professionally managed, ensuring a smooth and efficient operation. This is a rare opportunity to acquire a high-performing, fully leased Class A office building in a desirable location. Further information is available upon request.

    Property Features for 2203 Empire St

    General Information

    Property type
    Office space
    Square Feet
    53,366 SF
    Class
    A
    Lot Size
    232,610 SF

    HighLights

    • Prime location near Veteran's Parkway, Route 9, and CIRA.
    • Professionally managed with excellent tenant retention.
    • Strong historical performance with creditworthy tenants and low vacancy rates.
    • High visibility and significant traffic counts.
    • Corner lot at a signalized intersection.
    • Broker co‑op opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Frontier Title Title Company McLean County Chamber ... Chamber Of Commerce C.H. Robinson Peoria Logistics Service Ritchie Law Office, ... Estate Planning Attorney BN ShareSpace Coworking Space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    McLean
    State
    Illinois
    Longitude
    -88.9447534
    Latitude
    40.4874824

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    FAQs

    What type of property is this?
    Office space - High-yield investment opportunity, 100% occupied.
    Where is this office space located?
    The property is located at 2203 Empire St Bloomington, IL.
    What is the asking price?
    The asking price for this property is $4,900,000.
    What are key features of this property?
    This property features: Prime location near Veteran's Parkway, Route 9, and CIRA.; Professionally managed with excellent tenant retention.; Strong historical performance with creditworthy tenants and low vacancy rates.
    Request Owner's contact information
    2203 Empire St Bloomington, IL 61704
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    Bloomington, IL 61704
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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
    2203 Empire St Bloomington, IL 61704
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