311 Sw Water Street Unit #3 & 4, Peoria, IL 61602

Building Details

Year Built

1900

Listing office RE/MAX Traders Unlimited

Listing date Jun 25, 2026

Source Davisrealtor

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

All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Traders Unlimited

Report an issue

---

Overview

This offering presents a residential portfolio within the Waterfront Place building, comprising the entirety of the 3rd and 4th floors, which together include 23 luxury loft apartments. The property also includes a usable 3rd-story rooftop deck and building air rights. Set within a renovated 1900 brick-and-timber warehouse, the building combines historic industrial character with modern residential amenities.

The asset is located in the Peoria Warehouse District, bordering the Central Business District, and is in the River Edge Redevelopment District. It is zoned B1. The building sits adjacent to the OSF IT Headquarters, the Peoria Riverfront Museum, and the Caterpillar Visitor’s Center.

For investors or operators seeking a multi-unit residential holding, this structure provides a defined purchase scope focused on the upper floors, along with outdoor amenity space on the 3rd-story rooftop deck. The included air rights may also support future planning within the parameters of applicable approvals. Full financials are available with NDA.

Suggested Use

Storage Facility Car Rental Facility Clothing & Fashion Store (Bike/Boat/Book/etc) Store Wine and Liquor Store Acupuncture Auto Parts Store Pet Grooming Service (Bike/Boat/Book/etc) Store Garden Center

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

Location Insight

• Map
• Local Demand

City

Peoria

County

Peoria

State

Illinois

Longitude

-89.5909115

Latitude

40.6881704

Nearby Similar for Sale

• 

  $134,900

  Corner Office Building with Patio

  High-visibility corner office with vaulted, open interior, patio access, and dedicated parking for clients and staff.

  6216 N SHERIDAN Road, Peoria, IL 61614

  View Details
• 

  $417,000

  Specialty Commercial Building with Parking

  Updated specialty commercial building with ADA restrooms, large windows, and an oversized parking lot for customer convenience.

  7319 N UNIVERSITY Street, Peoria, IL 61614

  View Details
• 

  $3,788,000

  40,697 SF

  Government Office Building Investment

  Institutionally leased government office with 100% occupancy under a gross lease and scheduled rental increases.

  607 Main St, Peoria, IL 61602

  View Details
• 

  $550,000

  1,536 SF

  Turnkey Dirt Track Stadium

  Fully equipped 1/4-mile dirt oval motorsports venue with grandstands, lighting, concessions, and an on-site two-story office.

  3520 W Farmington Rd, Peoria, IL 61604

  View Details
• 

  $119,900

  Two-Unit Residential Income Duplex

  Two tenant-occupied units with 2 bedrooms and 1 full bath each, recently updated with a new furnace.

  609 W ARMSTRONG Avenue, Peoria, IL 61606

  View Details
• 

  $420,000

  11,496 SF

  West Peoria Two-Story Office Building

  Two-story office building in West Peoria on 2.8 acres.

  1716 N. University St. West, Peoria, IL 61604

  View Details
• 

  $975,000

  Former Health Clinic Facility

  Former clinic space with multiple exam rooms, waiting areas, and ample on-site parking on a 2.18-acre lot.

  7801 N. Knoxville Avenue, Peoria, IL 61615

  View Details
• 

  $70,000

  1,500 SF

  Versatile Commercial Building in Peoria

  Adaptable commercial building suitable for various business uses.

  804 E FORREST HILL Avenue, Peoria, IL 61603

  View Details
• 

  $475,000

  Automotive Workshop and Storage Facility

  A commercial property combining a mechanics workshop, storage units, and a leased sales lot for automotive-focused operators.

  3523 W FARMINGTON Road, Peoria, IL 61604

  View Details
• 

  $995,000

  Mixed-Use Flex Warehouse Building

  Value-add flex building combining office, retail, and warehouse space with an established tenant in place through 1/31/28.

  8630 N Allen Rd, Peoria, IL 61615

  View Details
• 

  $575,000

  3,380 SF

  Retail Building in Prime Location

  3,380 SF building ideal for retail or business.

  1017 W Main St, Peoria, IL

  View Details
• 

  $1,074,455

  13,978 SF

  Mixed-Use Commercial Strip Center

  Mixed-use commercial strip center with 11 units in Peoria, IL.

  4325 N Sheridan Road, Peoria, IL 61614

  View Details

FAQs

What type of property is this?

Multifamily property - Own 23 loft apartments across the 3rd and 4th floors with a usable rooftop deck and available air rights.

Where is this multifamily property located?

The property is located at 311 Sw Water Street Unit #3 & 4 Peoria, IL.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: Residential portfolio in Waterfront Place includes 23 loft apartments on the 3rd and 4th floors; Usable 3rd‑story rooftop deck included; Building air rights included