Contact Us

Your message

Details

The Vandalia Retail Portfolio consists of three facilities located in Vandalia, IL, approximately 70 miles northeast of St. Louis, MO. All three properties have direct frontage along I-70, which sees a traffic count of 22,600 vehicles per day. In addition to their proximity to I70, the facilities also benefit from close proximity and visibility from Veterans Avenue/Hwy 40, which experiences 6,850 vehicles per day. Veterans Avenue serves as the main road through Vandalia, with adjacent businesses including McDonald's, Wendy's, Sonic, Arby's, Pizza Hut, Burger King, and Rural King. The elementary and junior high schools are located on the south side of Veterans Avenue, and the high school is just one block further south. The facility at 1631 N. Eighth Street is the largest of the three properties in the portfolio and is the closest to the I-70 exit. Currently set up for two tenants, this 9,408 sq ft building, constructed in 2002, can easily be reconfigured to accommodate up to four tenants, offering flexibility for new ownership in attracting occupants. Over $50,000 in capital expenditures have been invested in recent years, including a new roof. The main tenant, Sarah Bush Lincoln Hospital, occupies 3/4 of the building. While they are expected to remain for the next 1-2 years, they may relocate to a new, consolidated office they are constructing. The other tenant, a Mexican restaurant, is reportedly thriving in this location. With its adaptable layout and proximity to Vandalia's primary retail area, this facility is well-positioned to attract new tenants once Sarah Bush Lincoln vacates. Additionally, restructuring the building could potentially command higher rental rates per square foot compared to current levels. 1631 N. Eighth Street is located just 1/3 of a mile east of the other two facilities in the portfolio. This close proximity further enhances the strategic value of the properties within the portfolio. 1401 Veterans Avenue features two income-producing facilities on the same PIN (1.56 acres). Both tenants are long-term renters paying significantly below current market rates, reflecting the owner's intention to reward them for their loyalty. Buyers should view this as a value-add opportunity for the first year after acquiring the portfolio. Additionally, the far northern portion of this facility was formerly railroad property and presents an opportunity for development. It could be transformed into a mini storage building, potentially extending approximately 350 feet in length. The easternmost building at 1401 Veterans Avenue was constructed in 1998. The tenant, Heartland Ag, has been in the 5,940 square foot pole barn building since its completion, marking 26 years of occupancy. The building features a loading dock on the northwest side. The westernmost building at 1401 Veterans Avenue was built in 1975. The 5,670 square foot pole barn building has been rented by Sisters' Consignment Shop for the past 22 years. There are four additional adjacent lots that have been surveyed out and are available for purchase.