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    1119 N Underhill St Peoria, IL 61606

    Pending
    For Sale
    $1,600,000

    Commercial Sale - Peoria, IL

    Property size:
    19,500 SF
    Lot size:
    0.42 Acres
    Days on Market:
    12
    Last Refresh:
    Dec 6 at 7:06 am

    Property Features for 1119 N Underhill St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    MULTI
    APN
    1805401035
    Size
    19,500 SF
    Lot size
    0.42 Acres

    Building Details

    Year built
    1910
    Number of units
    20
    Roof type
    Membrane
    Architectural style
    Other

    homecoin.com (888) 400-2513 [email protected]

    Listing agent Jonathan Minerick (888) 400-2513 License #471021775

    Listing date Nov 25, 2025

    MLS# 12500893 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Underhill Apartments: Peoria Multifamily Investment

    Underhill Apartments presents a 20-unit multifamily investment opportunity situated in Peoria. This income-producing property demonstrates strong in-place cash flow, with potential for increased returns through renovation and rent growth. Twelve of the twenty units have been fully renovated with modern finishes, updated flooring, kitchens, and bathrooms. The remaining eight units offer a value-add opportunity for investors. Current rents demonstrate strong performance, and projected income can rise significantly once all units are upgraded. Recent improvements include new roofs, updated plumbing, electrical improvements, and boiler upgrades. The property features a tenant base of supportive housing program residents, contributing to consistent occupancy and predictable revenue. Located near schools, transit, and employment centers, Underhill Apartments offers both immediate cash flow and long-term appreciation potential. The property is located at 1119 N Underhill Street, Peoria, IL 61606, in Peoria County, Illinois. The lot size is 0.42 acres, and the property size is 19500 square feet. The zoning is MULTI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6122105
    Latitude
    40.7019779

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    FAQs

    What type of property is this?
    Apartment building - 20-unit multifamily property in Peoria with renovation and rent growth potential.
    Where is this apartment building located?
    The property is located at 1119 N Underhill St Peoria, IL.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: - Strong in-place cash flow with immediate upside potential through renovation and rent growth.; - Twelve of twenty units are fully renovated with modern finishes, commanding premium rents.; - Recent major mechanical and structural updates reduce future maintenance.
    (888) 400-2513
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1119 N Underhill St Peoria, IL 61606
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