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    514 Pekin St Lincoln, IL 62656

    Sponsored
    For Sale
    $95,000

    Downtown Lincoln, IL - Versatile Commercial Space

    Property size:
    1,032 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional 1,032 square foot commercial building at 514 Pekin Street in Lincoln, Illinois presents a unique investment opportunity. Ideally situated just steps from the Amtrak station and the historic downtown square, this all-brick structure offers unparalleled convenience and visibility. Currently occupied by a men's clothing store, the property's R-2 zoning allows for a wide range of commercial uses, making it suitable for various small professional businesses. Alternatively, its charming features and layout offer significant potential for conversion into a single-family residence. The building boasts several desirable features including a partial basement, convenient rear ramp access, ample parking both on the street and in the rear, and recently updated amenities. These updates encompass vinyl replacement windows, modern flooring, updated fixtures and plumbing, a new furnace, a central air conditioning unit, and fresh paint throughout, ensuring a move-in ready condition. The property's excellent condition and prime location combine to create a compelling investment prospect with strong potential for future growth and profitability. This is a rare opportunity to acquire a well-maintained, versatile property in a thriving downtown area. Don't miss out on this exceptional offering.

    Property Features for 514 Pekin St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,032 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Prairie Threads Men'S Clothing Store Apple Dental Center Dental Clinic Gurga Lee DDS Dentist

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Logan
    State
    Illinois
    Longitude
    -89.36369
    Latitude
    40.14925

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    FAQs

    What type of property is this?
    Commercial real estate - Downtown Lincoln, IL - Versatile Commercial Space
    Where is this commercial real estate located?
    The property is located at 514 Pekin St Lincoln, IL.
    What is the asking price?
    The asking price for this property is $95,000.
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    514 Pekin St Lincoln, IL 62656
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    Lincoln, IL 62656
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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
    514 Pekin St Lincoln, IL 62656
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