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State of Illinois - Council on Developmental Disabilities
830 South Spring Street, Springfield, IL 62704
$1,376,697
Cap Rate 8.75%
Summary
| Price $1,376,697 | Built/Renov 1988 | Tenant State of Illinois - Council on Developmental Disabilities |
| Cap Rate 8.75% | Lease Type
Modified Gross | Guarantor Corp Rated |
| Size/SF
9,630
| Lease Start
08-01-2021
| #Units
103
|
| Price/SF $142.96 | Expiration
07-31-2026
| Tenant Type Government |
| NOI $120,461 | R. Term 2.7 | Ownership Fee Simple |
| Rent/SF
$12.51
| Increases 2.0%/2/yrs | Pop 5Mi 121,186 |
| Lot/AC 0.42 | Options 1/5yrs/2% | AHHI 5Mi $70,904 |
| | |
Lease Highlights
- ICDD has occupied property since 2009
- Tenant has 3 years remaining in its current term with 1 (5-year) option to extend
- Lease features 2% rent increases in Year 3 and Year 5 in both current term and option
- Modified Gross lease | Landlord responsible for general maintenance
- HVAC 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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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 - Council on Developmental Disabilities
- Guarantor:Corp Rated
- Company:State of Illinois
- # Units:103
- Moody’s: A3
- Stock:Private
About Tenant
The Illinois Council on Developmental Disabilities (ICDD) was created under a federal mandate in 1974 as an amendment to the Developmental Disabilities Assistance and Bill of Rights Act (DD Act)...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 12,757 | 79,693 | 118,906 |
| 2023 Total Population : | 13,009 | 80,739 | 119,862 |
| 2023 Employed Civilian Pop : | 6,233 | 36,777 | 55,954 |
| 2023 Total Businesses : | 1,566 | 4,240 | 6,096 |
| 2023 Average Household Income : | $ 68,074 | $ 69,931 | $ 81,068 |
| 2023 Total Consumer Spending : | $ 385 M | $ 2297 M | $ 3839 M |
| 2023 Median Age : | 37 | 39 | 41 |
| 2023 Total Households : | 6,437 | 37,505 | 54,477 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,903 | 9,851 | 17,018 |
| 2023 Average Home Value : | $ 159,810 | $ 163,416 | $ 185,373 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| W Canedy St | Spring St | 2017 | 600 | 0.05 mi |
| W Lawrence Ave | S College St | 2017 | 5,100 | 0.08 mi |
| E Lawrence Ave | S 2nd St | 2017 | 5,400 | 0.10 mi |
| Spring St | W Canedy St | 2017 | 2,550 | 0.10 mi |
| S 2nd St | E Canedy St | 2017 | 5,100 | 0.11 mi |
| W Cook St | Spring St | 2017 | 6,400 | 0.12 mi |
| S College St | W Cook St | 2017 | 1,050 | 0.13 mi |
| S College St | W Canedy St | 2017 | 550 | 0.13 mi |
| Spring St | W Cook St | 2017 | 1,900 | 0.14 mi |
| W Scarritt St | Spring St | 2017 | 550 | 0.16 mi |