Property profile

2302 Oakland Ave Bloomington, IL 61701

OFF-MARKET
Office Spaces
Built 1950
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Property summary

AI-generated overview

This single-story, 1950-built Medical Arts Building, located at 2302 E. Oakland Avenue in Bloomington, IL (61701), offers a unique opportunity. The 38-space parking lot serves a building with multiple tenants, and two office suites are currently available. Situated in a high-traffic area near State Farm's corporate offices, this Creative Office space benefits from proximity to numerous retail establishments including Jewel, Kroger, Dunkin' Donuts, and Subway. The B2 zoning allows for a variety of uses. The property's McLean County location (APN 21-02-359-006) places it within a thriving economic environment. Bloomington-Normal boasts a diverse economy anchored by major employers such as State Farm, Country Financial, Illinois State University, Rivian Automotive, and OSF Healthcare. The area's strong agricultural sector and excellent transportation infrastructure (including rail and air access) further enhance its appeal. The presence of three major universities (Illinois State University, Heartland Community College, and Illinois Wesleyan University) contributes to a vibrant and growing community. Bloomington's recognition as a desirable place to live, highlighted by its high rankings in various "best of" lists, underscores the property's investment potential. Affordable, below-market rents are available, with utilities included in one unit. This presents an excellent opportunity for businesses seeking a well-located, functional office space in a dynamic and growing market.

Property profile

Verified
Property type Office Spaces
Year built 1950

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm
  • Marriage Or Relationship Counselor Psychotherapist
  • Crisis Center Medical Clinic
  • Home Health Care Service
  • (Bike/Boat/Book/etc) Store

Location

2302 Oakland Ave Bloomington, IL 61701
Bloomington metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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