Prime Redevelopment Opportunity on
For Sale
Contact for pricing
514 W MAIN Street, Peoria, IL 61606
1.65 acres on Main St, ideal for redevelopment.
Property Size31,333 SF
Lot Size1.65 Acres
Price / SF$31.88
Days on Market1055
Property Features for 514 W MAIN Street
General Information
Standard status
Active
Size
31,333 SF
Lot size
1.65 Acres
Property subtype
Business for Sale, Industrial, Retail, Office
Zoning
MW
Building Details
Buildings
5
Listing Agency:
Keller Williams Premier Realty
(309) 472-8037
Listed By:
Zachary Oyler · License #475172173
Source:
Crexi
Added: Oct 1, 2023
Changed: Aug 12
Last Checked: Aug 20 at 10:46AM
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 Keller Williams Premier Realty
Investment Insights
Based on property information with market context.
This property presents a significant opportunity for purchase, use, or redevelopment, encompassing 1.65 acres situated on the highly trafficked Main Street, conveniently located between the hospitals and Bradley University. The substantial land area is suitable for a multi-use housing or retail development. The property includes a building that formerly operated as a car dealership, offering ample storage space. An adjacent building section features apartments above office space. A former restaurant building is also located on the other side of the parking lot. The properties can be sold together, or splitting the buildings is negotiable. Additional adjacent parcels totaling 1.14 acres are available, allowing for a larger scale development.
Key Highlights
- 1.65 acres on highly traveled Main St.
- Perfect for multi‑use housing/retail development
- Between the hospitals and Bradley University
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,776
Businesses Nearby
Explore this area
Business Placement
Demographics for 61606, IL
6,798
Population
2,898
Households
2.3
Avg Household Size
26
Median Age
40%
College-Educated
92%
High-School Grad
1.2 sq mi
ZIP Area
5,665
Density / Sq Mi
$41,023
Median Household Income
$14,738
Median Earnings
$907
Median Rent
$119,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 1.65 acres on Main St, ideal for redevelopment.
Where is this commercial land located?
The property is located at 514 W MAIN Street Peoria, IL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 1.65 acres on highly traveled Main St.; Perfect for multi‑use housing/retail development; Between the hospitals and Bradley University
