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    OFF-MARKET
    Office Spaces

    402 Sangamon Ave, Gibson City, IL 60936-1258

    0.3 ac lot
    Individually Owned Free & Clear
    Property ID
    US28-2965178
    Property summary
    AI-generated overview

    This exceptional three-story, 17,007-square-foot executive office building in Gibson City, Illinois, presents a unique owner-user opportunity. Built in 1977, the property sits on a 0.58-acre lot and boasts a desirable B1 zoning classification. The building features a well-maintained structure with a newer roof, fob access, a boiler/chiller system, and 300 AMP 3-phase power. The first floor, approximately 5,669 square feet, offers a flexible layout previously configured as a bank, including private offices, a conference room, teller area, lobby, restrooms, and a vault. The second floor, also approximately 5,669 square feet, provides ample space with high ceilings, large windows, and features including approximately 11 perimeter offices, two executive offices (23' x 12'), a conference room (27' x 16'), open work areas, a kitchenette, and restrooms. A mostly finished basement includes a large executive boardroom (32' x 32'), two additional offices, a kitchenette, restroom/lounge, server room, mechanical rooms, and another vault. The asking price is $479,000, translating to $21.82 per square foot. The sale includes a five-year deed restriction against financial institutions and financial services. The property is conveniently located at 402 N Sangamon Ave, Gibson City, IL 60936, near the intersection of Routes 54, 47, and 9, and just north of the downtown area. Ample parking is available. The total building square footage is 21,954 square feet. The property consists of one building with three usable levels.

    Property profile
    Verified
    Property type Office Spaces
    Use group OFFICE (GENERAL)
    Lot 0.3 ac (13,200 SF)
    APN 09-11-11-205-007
    UPID US28-2965178
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Blend (final) Blend
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    Owner & transaction history
    BUSEY BANK
    BUSEY BANK
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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