Retail, restaurant, office space planned for downtown State Farm building

Posted on March 25, 2019
State Farm
Broker Jill Guth with Guth & Associates says multiple parties are interested in leasing space in the old State Farm building in downtown Bloomington. (WJBC file photo)

 

By Neil Doyle

BLOOMINGTON – A broker says she has identified multiple interested parties to lease retail, restaurant and office space in the historic State Farm building in downtown Bloomington.

“Multiple tours have been conducted within the building with interested parties, and more tours are planned over the next few weeks,” said Jill Guth with Guth & Associates.

The company has an agreement with an “interested buyer” who is expected to close on the property this summer.

The first floor will include retail and restaurant space consisting of 16,000 square feet and is priced at $14 per square foot.

“Actually, we’ve already had a couple restaurants throughout the building and have had some positive feedback, we should have some interested proposals for that space,” said Guth.

Floors two through seven are nearly identical office space. Each floor consists of approximately 14,000 square feet being sold at $8 per square foot.

Floors eight through 10 feature private offices priced at $10 per square foot.

Lease rates have not been determined for floors 11,12 and 13.

Lease rate discounts are being provided for multiple floors leased by the same tenant.

Neil Doyle can be reached at [email protected]

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