Income & Repositioning Opportunity

About this listing

DESCRIPTION

Coldwell Banker Commercial Devonshire Realty has been retained to market for sale the fee-simple interest in 3290 E Main Street, in Danville, IL.
Located in the Mervis Innovation Business Park, 3290 E Main Street is a 63,123 square foot institutional-quality office facility situated on 7.45 acres in Danville, Illinois. Originally developed for and occupied by Health Care Service Corporation d/b/a Blue Cross Blue Shield, the property is currently leased on an Absolute NNN basis through January 31, 2028, providing immediate cash flow while creating a unique value-add repositioning opportunity.
Blue Cross Blue Shield has publicly announced plans to retain a Danville presence, but will transition operations to a remote workforce model and is expected to vacate the facility during Summer 2026. As a result, investors have the rare opportunity to acquire a stabilized income-producing asset with approximately eighteen (18) months of remaining term while simultaneously planning for the property’s next phase of use.
Given the limited inventory of large block office space in the Danville market, the property’s use extends beyond traditional office occupancy. Potential future applications include light industrial conversion, manufacturing support operations, data processing, flex industrial redevelopment, or adaptive reuse. The remaining lease term offers a valuable runway to new opportunities, pursue entitlement strategies, and execute a thoughtful repositioning plan while benefiting from in-place rental income.

AREA

3290 E Main Street is positioned in the Mervis Innovation Business Park, one of Danville’s leading business and employment centers. The park is home to a diverse mix of corporate, technology, hospitality, and industrial users, creating a dynamic environment that supports continued investment and economic growth in Vermilion County.
Located less than ½ mile from I-74 Interstate, this strategic location allows businesses to serve both Illinois and Indiana markets while benefiting from lower occupancy costs while still having convenient access to larger metropolitan areas.