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    359 Court St Pekin, IL 61554

    Sponsored
    For Sale
    $299,900

    Historic building, high potential, $299,900

    Property size:
    12,213 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 12,213 square foot commercial property, located at 359 Court Street in the heart of downtown Pekin, Illinois, presents a spectacular investment opportunity. The building, a charming historic structure situated near the courthouse, offers approximately 4,000 square feet on both the main and upper floors, providing ample space for a variety of businesses. The electrical system was updated in 2010, and the roof liner, featuring a fiber base with spray-on coating, was also replaced in 2010. A significant advantage is the non-load-bearing walls between rooms, allowing for flexible space planning and the creation of larger, open areas to suit specific business needs. The property includes a fully installed fire suppression system, ensuring safety and peace of mind. To further enhance the property, the seller is offering a $10,000 rebate towards bathroom upgrades. This is a rare chance to acquire a substantial, well-maintained commercial building in a prime downtown location with significant upside potential. The property sits on a 0-acre lot.

    Property Features for 359 Court St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    12,213 SF

    Building Details

    Year Built
    1910
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Pekin
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.64698
    Latitude
    40.5696

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    FAQs

    What type of property is this?
    Commercial real estate - Historic building, high potential, $299,900
    Where is this commercial real estate located?
    The property is located at 359 Court St Pekin, IL.
    What is the asking price?
    The asking price for this property is $299,900.
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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
    359 Court St Pekin, IL 61554
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