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State of Illinois - Department of Human Services
822 South College Street, Springfield, IL 62704
$828,069
Cap Rate 8.75%
Summary
| Price $828,069 | Built/Renov 1990 | Tenant State of Illinois - Department of Human Services |
| Cap Rate 8.75% | Lease Type
Modified Gross | Guarantor Corp Rated |
| Size/SF
8,307
| Lease Start
09-01-2019
| #Units
103
|
| Price/SF $99.68 | Expiration
08-31-2024
| Tenant Type Government |
| NOI $72,456 | R. Term 0.8 | Ownership Fee Simple |
| Rent/SF
$8.72
| Increases 2.0%/2/yrs | Pop 5Mi 121,186 |
| Lot/AC 0.44 | Options 1/5yrs | AHHI 5Mi $70,904 |
| | |
Lease Highlights
- IDHS has occupied property since 2009
- Tenant has 1.5 years remaining in its current term with 1 (5-year) option to renew
- Lease features 2% rent increase at start of the option period (Sept 2024) and in option Year 3
- 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 - Department of Human Services
- Guarantor:Corp Rated
- Company:State of Illinois
- # Units:103
- Moody’s: A3
- Stock:Private
About Tenant
Illinois created IDHS in 1997, to provide the state’s residents with streamlined access to integrated services, especially those who are striving to move from welfare to work and economic...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 12,990 | 79,618 | 119,115 |
| 2023 Total Population : | 13,250 | 80,672 | 120,062 |
| 2023 Employed Civilian Pop : | 6,472 | 36,834 | 56,066 |
| 2023 Total Businesses : | 1,553 | 4,199 | 6,113 |
| 2023 Average Household Income : | $ 69,379 | $ 70,932 | $ 81,310 |
| 2023 Total Consumer Spending : | $ 406 M | $ 2328 M | $ 3859 M |
| 2023 Median Age : | 37 | 39 | 41 |
| 2023 Total Households : | 6,680 | 37,488 | 54,598 |
| 2023 Pop Age 25+: Bachelor's Degree : | 2,050 | 10,058 | 17,118 |
| 2023 Average Home Value : | $ 159,815 | $ 165,911 | $ 186,149 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| W Lawrence Ave | S College St | 2017 | 5,100 | 0.06 mi |
| S College St | W Canedy St | 2017 | 550 | 0.08 mi |
| S College St | W Cook St | 2017 | 1,050 | 0.10 mi |
| W Canedy St | Spring St | 2017 | 600 | 0.10 mi |
| Spring St | W Canedy St | 2017 | 2,550 | 0.11 mi |
| S Pasfield St | Fayette Ave | 2017 | 600 | 0.11 mi |
| S Pasfield St | W Lawrence Ave | 2003 | 8,600 | 0.11 mi |
| Spring St | W Cook St | 2017 | 1,900 | 0.16 mi |
| W Cook St | Spring St | 2017 | 6,400 | 0.16 mi |
| E Lawrence Ave | S 2nd St | 2017 | 5,400 | 0.17 mi |