2220 Monroe StDecatur, IL 62526

Property Details for 2220 Monroe St

Lot size

0.25 AC

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,913,526

  6.5%

  $2,689,409

  7%

  $2,497,308

• Comparable approach

  Method

  Valuation

  Relative Method

  $848,984

  Geo Method

  $848,984

• Alternative Use

  Use

  Valuation

  Residential

  $3,334,868

  Hospitality

  $3,054,720

  Educational

  $2,541,492

  Medical

  $2,628,898

  Retail

  $3,953,432

Location Insight

City

Decatur

County

Macon

State

Illinois

Latitude

39.8655

Longitude

-88.9632

CBSA code

19500

CBSA name

DECATUR, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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