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    606 Fayette St Peoria, IL 61603

    Sponsored
    For Sale
    $1,280,000

    16,000 SF Executive Office, Vacant

    Property size:
    16,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional two-story Class B office building, located at 606 W Fayette St in Peoria, Illinois, presents a unique investment opportunity. The property boasts a substantial 16,000 square feet of space, situated on a 0.45-acre lot. Currently vacant, this building offers immediate occupancy for a discerning buyer. The ground floor features a well-designed layout including 15 exterior-wall offices, 5 interior offices, a welcoming reception area, and convenient restrooms. The upper level provides ample space with approximately 18 exterior-wall offices and approximately 6 interior offices, along with its own dedicated restroom. Interior offices on both levels offer flexibility, allowing for customization to suit various business needs. The usable basement adds significant value, encompassing two sizable conference or training rooms, a fully equipped kitchen, and dedicated file storage areas. This property is ideally suited for a variety of executive office uses and presents a compelling opportunity in Peoria's central business district (CBD). The asking price is $1,280,000. The property's address is 606 W Fayette St, Peoria, IL 61603. This is a rare opportunity to acquire a substantial, well-maintained office building in a prime location.

    Property Features for 606 Fayette St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    16,000 SF
    Class
    B
    Lot Size
    19,602 SF

    Building Details

    Stories
    2

    HighLights

    • 16,000 SF two‑story office building with additional basement space.
    • Ground floor features 20 offices, reception, and restrooms.
    • Second floor offers approximately 24 offices and a dedicated restroom.
    • Interior offices are easily combinable.
    • Basement includes two conference rooms, a full kitchen, and ample storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Law Firm Auto Repair Shop Hair Salon 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
    -89.590196
    Latitude
    40.6968378

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    FAQs

    What type of property is this?
    Office Property / Space - 16,000 SF Executive Office, Vacant
    Where is this office property / space located?
    The property is located at 606 Fayette St Peoria, IL.
    What is the asking price?
    The asking price for this property is $1,280,000.
    What are key features of this property?
    This property features: 16,000 SF two-story office building with additional basement space.; Ground floor features 20 offices, reception, and restrooms.; Second floor offers approximately 24 offices and a dedicated restroom.
    (309) 693-3000
    Request Owner's contact information
    606 Fayette St Peoria, IL 61603
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    Peoria, IL 61603
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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
    606 Fayette St Peoria, IL 61603
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