1615 Commerce Pkwy Bloomington, IL 61704-9667
- Commercial real estate
- 18,352 SF
- 2.23 lot acres
Current Use by Public Records
- University of Illinois Extension / University / School Administration Office
- McLean County HCE / Association / Organization
Property Details for 1615 Commerce Pkwy
- Year built
- 1993
- Construction
- FRAME
- Lot size
- 2.23 lot acres
- Property size
- 18,352 SF
- Property type
- Commercial real estate
- APN
- 21-15-179-001
- APU
- 2115179001
Description
This single-story, 18,350-square-foot Class B office building in Bloomington, Illinois, presents a compelling investment opportunity. Currently housing two tenants, including the University of Illinois Extension, the property offers a unique blend of immediate income and future potential. One tenant, IBM, will vacate later this year, leaving approximately 10,291 square feet available for lease or owner-occupancy. The University of Illinois's remaining lease provides a revenue stream while a new owner transitions. The building sits on a 2.23-acre lot and features a modified lease structure. Built in 1993, the property is zoned B1 and offers excellent potential for a variety of uses. The building is located at 1615 Commerce Pkwy, Bloomington, IL 61704. The surrounding area is experiencing significant growth, with recent developments including a new co-working space, a remodeled neighboring property, and expansions of local businesses. Bloomington-Normal boasts a strong and diverse economy, anchored by major employers like State Farm, Country Financial, Illinois State University, and Rivian Automotive. The area's robust higher education sector, including Illinois State University and Heartland Community College, contributes to a thriving and desirable community. Bloomington-Normal consistently ranks highly in national livability surveys, making it an attractive location for businesses and residents alike. This property offers a rare chance to capitalize on the area's economic momentum and strong market fundamentals. The asking price is $1,550,000 ($84.47/SF).
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,440,000
- AI Estimate
- $954,000
Market price range: $923k - $2.63MMarket price range: $561k - $1.77M
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Location Insight
- Map
- Local Demand
- City
- Bloomington
- County
- Mclean
- State
- Illinois
- Longitude
- -88.9757
- Latitude
- 40.456
- CBSA code
- 14010
- CBSA name
- BLOOMINGTON, IL METROPOLITAN STATISTICAL AREA
