What is the asking price for Own a Corner of Downtown Bloomington?

The lease rate for space here is $1,710,000.

What type of property tenancy can you find at Own a Corner of Downtown Bloomington?

This property is listed as Multi-Tenant.

What is the total size of Own a Corner of Downtown Bloomington?

The property has a total square footage of 24,842 SF.

When was this property built?

Own a Corner of Downtown Bloomington was built in 1978.

How many parking spaces are available at Own a Corner of Downtown Bloomington?

Parking information for the property isn't currently listed. However, other nearby parking options include Market Street Parking Deck, located 0.14 miles away , and Government Center Lot, which is 0.15 miles away.

202 N Center St, Bloomington, IL 61701

For Sale $1,710,000
Property Type Office - General Office
Property Size 24,842 SF
Units 6
Lot Size 0.2 Acre
Parking Spaces Avail. 21
Property Tenancy Multi-Tenant
Building Class B
Year Built 1978
Date Updated Nov 7, 2026

Description

202 N. Center Street is a 3-story commercial office building located directly on the square in Downtown Bloomington, Illinois. This beautifully architected building is located on the corner of W. Washington and N. Center Street, directly facing the downtown square. The building is just a few blocks east and south of the primary municipal and administrative buildings, and many main civic hubs. Conveniently located close to Illinois State University, Illinois Wesleyan University, State Farm Insurance, Rivian, the Central Illinois Airport, and more.202 N Center St is a three-story, 24,842 SF office building on a prominent corner in downtown Bloomington, located directly on the Square and close to county government offices and downtown’s restaurants and shops. Each floor has more than 8,000 SF, currently configured as six suites with elevator access. Every floor includes built out offices, conference rooms, reception areas and break rooms. The building comes with 21 deeded parking spaces, split between an underground garage and an adjacent surface lot, a feature very few downtown buildings can offer. The building works for three kinds of buyers: an owner-user who wants to occupy a floor and lease the rest, an investor ready to lease up and stabilize, or a redevelopment buyer exploring adaptive reuse under D-1 Downtown zoning. An owner can benefit from the ongoing public and private investment reshaping of downtown Bloomington. This property sits in both a TIF district and Enterprise Zone so incentives can be available.

Highlights

Attractive Basis Priced at $68.84/SF, well below the cost to build new downtown office space.
City-Approved Boutique Hotel Redevelopment Site The City of Bloomington has approved this property for boutique hotel redevelopment, giving investors a clear path to a downtown hospitality project with on-site parking already in place.
Corner Visibility A prominent corner with frontage on two streets, offering signage potential for an owner or anchor tenant.
Downtown Revitalization Benefit from the ongoing public and private investment reshaping downtown Bloomington.
Flexible Value-Add Opportunity Nearly 25,000 SF with multiple paths for an owner-user or investor to occupy, lease up, and stabilize the property.
In-Place Income Existing tenants, including Cox Law Firm, provide income from day one while the remaining space is leased up.
Move-In Ready Space Built-out offices, conference rooms, reception areas, and break rooms on every floor, served by an elevator.
Prime Downtown Location In the heart of downtown Bloomington, surrounded by businesses, restaurants, government offices, and amenities.
Rare On-Site Parking 21 deeded parking spaces, including an underground garage and surface lot, an exceptional advantage downtown.
Redevelopment Potential Beyond a hotel, D-1 Downtown zoning and 8,000+ SF floor plates support adaptive reuse, including ground-floor retail or mixed-use concepts.