2220 Monroe St Decatur, IL 62526-6304
- Medical offices
- 0.25 lot acres
Current Use by Public Records
- Dr. Timothy G. Hastings, DDS / Dentist
- Midwest OB-GYN & Infertility Center / Medical Clinic
- Melissa K. Wendell, CNM / Obstetrician-Gynecologist
- Brooks And Branham MDs / Medical Clinic / Medical Group
- Soy City Siding Experts / Siding Contractor
Property Details for 2220 Monroe St
- Lot size
- 0.25 lot acres
- Zone code
- MUNICIPAL
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 04-12-03-451-019
- APU
- 41203451019
Description
This single-story, 12,898-square-foot medical and executive office building, situated on a 1.25-acre lot at 2220 N Monroe St, Decatur, IL 62526 (corner of Monroe St & W Hay St), presents a unique investment opportunity. Built in 1970 and renovated in 2018, the Class C property offers 707 to 2,908 contiguous square feet of space, with a total of 10,915 square feet currently vacant. The building features 55 parking spaces and is conveniently located across from Decatur Memorial Hospital, offering excellent visibility and accessibility. Its prime location also provides proximity to HSHS St. Mary’s Hospital and Millikin University. The property boasts a desirable location overlooking Monroe Park, and benefits from a strong tenant mix. Potential tenants can take advantage of building and monument signage options, a generous tenant improvement allowance, and flexible lease terms. Property taxes are $2.25 per square foot. The zoning is Commercial. This is an exceptional opportunity for medical practices or other businesses seeking a well-located, adaptable space in a thriving community. Minimum divisible space is 707 square feet.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $340,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $490,000
- 6.5%
- $520,000
- 7%
- $510,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $430,000
- Geo Method
- $445,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $450,000
- Retail
- $550,000
- Mixed-Use
- $575,000
- Hospitality
- $435,000
- Educational
- $590,000
- Residential Income
- $545,000
- Energy
- $450,000
- Income-Based Land
- $490,000
- Food Service
- $530,000
Location Insight
- Map
- Local Demand
- City
- Decatur
- County
- Macon
- State
- Illinois
- Longitude
- -88.9632
- Latitude
- 39.8655
- CBSA code
- 19500
- CBSA name
- DECATUR, IL METROPOLITAN STATISTICAL AREA
