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19-Unit Apartment Building Package
New
For Sale
$1,150,000

2622 W WILLOWLAKE Drive, Peoria, IL 61614

Residential Income, Peoria, IL

Property SizeContact for details
Days on Market2

Property Features for 2622 W WILLOWLAKE Drive

General Information

Property type Residential Multi Family
Property subtype Other
Zoning Residential
Bedrooms 1
Bathrooms 1
Full bathrooms 1
Rooms Bathroom 1, Bedroom 1
Parking 19
Parking features Carport
Interior features Cable Available
Subdivision Willow Way
Lot features Level
Elementary school Ridgeview
Middle school Dunlap Valley Middle School
High school Dunlap
Directions Willow Knolls Rd. to Willowlake Dr.
Standard status Active
APN 14-07-330-025

Taxes and HOA fees

Tax Year 2025
Tax Description Willow Way Condos Unit 311
Tax Annual Amount 24848
Legal Description Willow Way Condos Unit 311

Utilities

Heating system Forced Air, Electric (Heating)
Cooling system Central Air
Water source Public

Amenities

neighborhood park
private lake
Dunlap School district
secure entry
central air
carports

Building Details

Year built 1975
Number of units 19
Building materials Vinyl Siding
Roof type Shingle
Listing Agency: Jim Maloof Realty, Inc.
Listed By: Brian Monge · License #475124221
Added: Aug 27 Last Checked: Aug 28 at 7:06AM
MLS# PA1269665

Copyright © 2026 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.

Investment Insights

Based on property information with market context.

This package comprises 19 condominium units within the same residential complex and is offered only as a combined sale. The unit mix includes 16 one-bedroom apartments, one two-bedroom unit with two full baths, one two-bedroom unit with one bath, and one one-bedroom unit with a den. Buildings were constructed in 1975 and feature vinyl siding, shingle roofs, central air, forced-air and electric heating, secure entry, updated hallways, and carport parking. The parking lot has been seal coated.

The property is located at 2622 W Willowlake Drive in Peoria, near Willow Knolls Road and Allen Road. Residents have access to a neighborhood park and private lake, with shopping and schools nearby. The Dunlap School District is also identified in the property information. HOA services include exterior and hallway maintenance, building insurance, sewer, water, and hot water.

Key Highlights

  • 19 condominium units offered together as one package
  • Unit mix includes 16 one‑bedroom units, 1 two‑bedroom/2 full‑bath unit, 1 two‑bedroom/1‑bath unit, and 1 one‑bedroom unit with den
  • 1975 construction with maintenance‑free vinyl siding and shingle roofs

Property Analytics

Current Use

Hands Free Temperature ... Department Store

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Grocery & Convenience Store Building Supply Cafe & Coffee Shop Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

19
Residential units

Location Intelligence

Trade Area within ½ mile

723
Businesses Nearby

Demographics for 61614, IL

27,119
Population
13,870
Households
2
Avg Household Size
41
Median Age
46%
College-Educated
97%
High-School Grad
12.0 sq mi
ZIP Area
2,260
Density / Sq Mi
$68,379
Median Household Income
$46,540
Median Earnings
$948
Median Rent
$169,700
Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Apartment building - Nineteen apartments in one complex feature carports, secure entry, central air, and updated common hallways.
Where is this apartment building located?
The property is located at 2622 W WILLOWLAKE Drive Peoria, IL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 19 condominium units offered together as one package; Unit mix includes 16 one‑bedroom units, 1 two‑bedroom/2 full‑bath unit, 1 two‑bedroom/1‑bath unit, and 1 one‑bedroom unit with den; 1975 construction with maintenance‑free vinyl siding and shingle roofs
More about this property
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