Illinois Department of Corrections — Sale in Peoria, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Peoria, IL 61602

Photos

Illinois Department of Corrections — Sale in Peoria, IL, photo 1 of 2
Illinois Department of Corrections — Sale in Peoria, IL, photo 2 of 2

Investment Figures

Cap rate
9.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

This government office was constructed in 1972 and is comprised of 40,697 square feet situated on 0.57 acres of land. This office is 100 percent occupied by The Illinois Department of Corrections operating under a gross lease structure with two percent annual rental increases every two years. There are three years of lease remaining. Fitch Ratings has assigned the State of Illinois a credit rating of A-. The Illinois Department of Corrections (IDOC) is the state agency responsible for operating Illinois’ adult correctional system. Headquartered in Springfield, it oversees a network of prisons, work camps, and adult transition centers that house individuals sentenced under Illinois law. Its primary responsibilities include maintaining secure and humane facilities, managing inmate classification and housing, and providing supervision and services for individuals in custody. IDOC also plays a key role in rehabilitation and reentry, offering programs such as education, vocational training, substance abuse treatment, and mental health services to help reduce recidivism. In addition to facility operations, the department manages parole and reentry coordination to support individuals transitioning back into the community. Located on Main Street, which serves as a key corridor that connects several of the city’s most active commercial, medical, and educational areas, making it an important thoroughfare for both local traffic and regional access. Running through central Peoria, Main Street provides direct connectivity to major roadways such as Interstate 74, which is the primary east-west highway linking the city to Bloomington, Illinois and Galesburg, Illinois, as well as offering access to Interstate 55 and Interstate 39 for broader regional travel. This proximity to major highways allows for efficient commuting and supports the movement of goods and services throughout the area. The corridor is surrounded by a dense concentration of amenities that contribute to its import

Market Context

This office in Peoria, IL is listed for sale. It is offered at an approximate 9.0% capitalization rate, a key benchmark for income-producing office assets. Compare it against other office listings for sale in Peoria, IL — view the full market.

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