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State of Illinois - Department of Healthcare & Family Services
110 West Lawrence Avenue, Springfield, IL 62704
$910,629
Cap Rate 8.75%
Summary
| Price $910,629 | Built/Renov 1992 | Tenant State of Illinois - Department of Healthcare & Family Services |
| Cap Rate 8.75% | Lease Type
Modified Gross | Guarantor Corp Rated |
| Size/SF
11,020
| Lease Start
11-01-2017
| #Units
103
|
| Price/SF $82.63 | Expiration
10-31-2027
| Tenant Type Government |
| NOI $79,680 | R. Term 3.10 | Ownership Fee Simple |
| Rent/SF
$7.23
| Increases 0.0%/0/yrs | Pop 5Mi 121,186 |
| Lot/AC 0.66 | Options 0/0yrs | AHHI 5Mi $70,904 |
| | |
Lease Highlights
- HFS has occupied property since 2009.
- Tenant has 3.5 years remaining in the current term and no remaining options
- Lease does not feature additional rent increases.
- Modified Gross lease | Landlord responsible for general maintenance
- HVAC units replaced within the last 3-5 years
- Roof replaced within the last 5-7 years
Location Description
The 6 State of Illinois buildings & The Illinois Coalition Against Domestic Violence building are available as a portfolio or individually. They are strategically positioned three blocks south of the Illinois State Capitol Building. The portfolio is surrounded by a number of state-tenanted buildings such as CyberDrive Illinois, the Illinois State Museum, the Archives, the Library, the Attorney...
...Features
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In location for years
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Major thoroughfare
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Highway location
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Dense 100M+ pop 5 mi
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Long operation history
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Corporate Guarantee
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Credit rated company
...
Maps
Tenant
- Tenant: State of Illinois - Department of Healthcare & Family Services
- Guarantor:Corp Rated
- Company:State of Illinois
- # Units:103
- Moody’s: A3
- Stock:Private
About Tenant
The Illinois Department of Healthcare and Family Services (HFS), formerly the Department of Public Aid, is the code department of the Illinois state government that is responsible for providing...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 12,631 | 79,685 | 119,095 |
| 2023 Total Population : | 12,881 | 80,732 | 120,054 |
| 2023 Employed Civilian Pop : | 6,164 | 36,766 | 56,091 |
| 2023 Total Businesses : | 1,554 | 4,232 | 6,101 |
| 2023 Average Household Income : | $ 67,643 | $ 69,788 | $ 81,035 |
| 2023 Total Consumer Spending : | $ 379 M | $ 2294 M | $ 3848 M |
| 2023 Median Age : | 36 | 39 | 41 |
| 2023 Total Households : | 6,390 | 37,519 | 54,621 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,865 | 9,812 | 17,010 |
| 2023 Average Home Value : | $ 159,508 | $ 162,756 | $ 185,104 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| E Lawrence Ave | S 2nd St | 2017 | 5,400 | 0.06 mi |
| W Canedy St | Spring St | 2017 | 600 | 0.08 mi |
| W Lawrence Ave | S College St | 2017 | 5,100 | 0.09 mi |
| W Cook St | Spring St | 2017 | 6,400 | 0.09 mi |
| S 2nd St | E Canedy St | 2017 | 5,100 | 0.10 mi |
| Spring St | W Cook St | 2017 | 1,900 | 0.11 mi |
| S College St | W Cook St | 2017 | 1,050 | 0.14 mi |
| Spring St | W Canedy St | 2017 | 2,550 | 0.14 mi |
| S 2nd St | E Blackmore Ave | 2017 | 5,450 | 0.16 mi |
| S College St | W Canedy St | 2017 | 550 | 0.17 mi |