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    313 Main St Peoria, IL 61611

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    For Sale
    $350,000

    Multi-use commercial property with restaurant in downtown Peoria.

    Property size:
    16,972 SF
    Lot size:
    0.13 Acres

    Property Features for 313 Main St

    General Information

    Size
    16,972 SF
    Lot size
    0.13 Acres

    Source: Joseph & Camper Commercial Agent Will Hayes

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Peoria Multi-Use Commercial Property

    This unique multi-use commercial property is located in downtown Peoria. The sale includes a three-story special use commercial building and a 5,116 square foot fully equipped underground bar and restaurant. The property at 311 Main Street is currently configured for retail, office, theater, and residential use, while the restaurant is located at 313 Main Street. The buildings are equipped with a sprinkler system and connected to the parking deck in the rear. A portion of the restaurant is located under the Central Building and is leased back to the owner of 313 Main Street; the exact square footage of the restaurant conveyed with the sale versus what is leased back is currently being measured. The property is located on Main Street, directly across from the Peoria County Courthouse. The theater requires restoration to be brought back into service. The total property size is 16,972 square feet.
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.5902956
    Latitude
    40.6919809

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    FAQs

    What type of property is this?
    Mixed-use property - Multi-use commercial property with restaurant in downtown Peoria.
    Where is this mixed-use property located?
    The property is located at 313 Main St Peoria, IL.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: - Prime downtown location on Main Street, directly across from the Peoria County Courthouse.; - Unique multi-use commercial property suitable for retail, office, theatre, and residential purposes.; - Includes a fully equipped 5,116 SF underground bar/restaurant.
    (309) 643-0717
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    313 Main St Peoria, IL 61611
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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
    313 Main St Peoria, IL 61611
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