403 E 3rd St - Office FOR SALE


Sterling, IL 61081
$1,737,882 USD
312-523-3176
403 E 3rd St, Sterling, IL for Sale
$1,737,882 USD
Office - FOR SALE
1/5
null | 8.5% Cap Rate

403 E 3rd St
Sterling, IL 61081


OVERVIEW

For sale by managing broker-owner. Prime investment opportunity. Class A masonry office building ideally situated in the heart of downtown Sterling, Illinois—approximately 100 miles west of Chicago and 45 miles east of the Quad Cities. Known for its striking architectural design, this property is one of the most aesthetically pleasing office buildings in the region and beyond. The building has undergone extensive recent renovations, including a brand-new roof, updated ADA-compliant restrooms, and improvements to the parking lot, ensuring modern functionality and convenience. Conveniently located, the property is in close proximity to key local amenities, including the Sterling Police Department, City Hall, the U.S. Post Office, and the Whiteside County Courthouse. The building also benefits from being surrounded by a variety of restaurants, retail establishments, and other government buildings, enhancing its appeal for both tenants and visitors alike. Currently, the building is home to WIPFLI, LLP, a prominent national CPA and consulting firm that employs over 3,000 people and ranks among the top 20 accounting firms in the United States. With WIPFLI as a high-credit tenant, the building enjoys stable occupancy and a strong, reliable income stream. The property has maintained 100% occupancy since its completion in 1992, offering a secure investment opportunity. This property presents a rare opportunity to own a prestigious, well-maintained office building in a highly desirable location.

FOR SALE DETAILS

PRICE

$1,737,882 USD

PRICE/SF

$134 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1992

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.61 AC

LAND SF

26,572 SF

ZONING

DB - Downtown Business

APN/PARCEL ID

1121484009

ASK ABOUT THIS PROPERTY

Scott FitzgeraldJoseph Rossi & AssociatesMore Info
312-523-3176

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Scott FitzgeraldJoseph Rossi & AssociatesMore Info
312-523-3176

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.