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    700 N Underhill St Peoria, IL 61606

    New
    For Sale
    $550,000

    Commercial - Peoria, IL

    Property size:
    4,879 SF
    Lot size:
    0.60 Acres
    Days on Market:
    5
    Last Refresh:
    Dec 15 at 9:06 am

    Property Features for 700 N Underhill St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R4
    APN
    18-08-202-005
    Size
    4,879 SF
    Lot size
    0.60 Acres

    Utilities

    Heating system
    Electric (Heating), Heat Pump (Heating), Natural Gas
    Cooling system
    Central Air, Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Number of units
    6
    Flooring type
    Carpet
    Building materials
    Aluminum Siding, Frame, Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Other

    Adam Merrick Real Estate (309) 273-1808 [email protected]

    Listing agent Adam Merrick (309) 282-1000 License #471018071

    Listing date Dec 11, 2025

    MLS# PA1259785 Listing URL

    Copyright © 2025 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Bradley University Investment Portfolio

    This portfolio comprises six houses strategically located near Bradley University, offering a unique investment opportunity. The properties benefit from a prime location that ensures a consistent, high-demand tenant pool drawn from the university's student body and local hospitals. This location contributes to historically strong occupancy rates and robust cash flow. The combined property size is 4879 square feet, situated on a 0.6-acre lot. Owning a majority of homes on a single street simplifies maintenance, landscaping, and tenant management, allowing for the creation of a cohesive and desirable community. The properties are located in Peoria, Illinois, with a zoning designation of R4.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    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
    -89.61088583
    Latitude
    40.699832535

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    FAQs

    What type of property is this?
    Single family property - Six-house portfolio near Bradley University with strong occupancy and cash flow.
    Where is this single family property located?
    The property is located at 700 N Underhill St Peoria, IL.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: - Prime Location: Steps from Bradley University, ensuring high demand from students and local hospitals.; - Six-House Portfolio: A rare opportunity to own a significant majority of homes on a single street.; - Turnkey Investment: Ready to generate cash flow from day one.
    (309) 282-1000
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    700 N Underhill St Peoria, IL 61606
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    Peoria, IL 61606
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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
    700 N Underhill St Peoria, IL 61606
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