Four-Unit Commercial Building in
1115 N North Street, Peoria, IL 61606
Mixed Use - Peoria, IL
Type:Mixed Use
Property size:
4,700 SFPrice / SF:
$121/SF- Added:
- Mar 19, 2026
- Days on Market:
- 59
- Last Refresh:
- May 16 at 1:06 pm
Property Features for 1115 N North Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Mixed Use
- Standard status
- Active
- APN
- 1804306046
- Size
- 4,700 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 15604
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Building materials
- Frame, Vinyl Siding
- Architectural style
- Other
Listing agent Jenny Wisniewski License #475163192 (618) 791-8224
Listing office Landmark Realty 3049 Godfrey Road, Godfrey, IL (618) 466-1513
Listing date Mar 19, 2026
MLS# 26009252
Listing URL
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High Income Potential: Generate $7806 monthly from existing leases.
- Stable Tenants: Leases secured with State contracts including Department of Corrections and Department of Juvenile Justice.
- Long‑Term Tenant: Benefit from a 30‑year history with the Department of Juvenile Justice.
- Renewed Lease: The Department of Corrections lease has been renewed for 5 years, starting November 1st.
- Significant Occupancy: 70% of the space is occupied by the two larger units.
- Investment Opportunity: Take advantage of a 12 Cap rate as‑is property, with potential for increased income by leasing vacant units.
Overview
This is a four-unit commercial building featuring a mix of occupied and vacant spaces. Two of the units are currently occupied under state contract leases, generating a monthly rental income of $7,806. These two larger units account for 70% of the building's total area. Unit B, spanning 4,700 square feet, is leased to the Department of Corrections Probation office, with a lease renewal scheduled for November 1st for a term of five years. Unit C, measuring 2,600 square feet, is occupied by the Department of Juvenile Justice, which has been a tenant for 30 years; units B and C are under a single lease. Unit A, a smaller 1,600-square-foot unit, is currently vacant and includes a conference room, men's and women's restrooms, a large common area suitable for copiers, and six offices within the suite. The common area inside the building is also vacant. Unit D, comprising 1,250 square feet, is also vacant and features a conference room, two offices, two bathrooms, a kitchenette, and a large open space previously used for cubicles. The property is located in Peoria, Illinois.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Peoria Parole Office
Probation Office
Community Connections Publishing ...
Publishing House
Location Insight
- Map
- Local Demand
- City
- Peoria
- County
- Peoria
- State
- Illinois
- Longitude
- -89.599527
- Latitude
- 40.701136
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Four-unit commercial building with state contract leases and vacancies.
Where is this mixed-use property located?
The property is located at 1115 N North Street Peoria, IL.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: High Income Potential: Generate $7806 monthly from existing leases.; Stable Tenants: Leases secured with State contracts including Department of Corrections and Department of Juvenile Justice.; Long‑Term Tenant: Benefit from a 30‑year history with the Department of Juvenile Justice.
