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    10023 Knoxville Ave Peoria, IL 61615

    Sponsored
    For Sale
    $1,500,000

    5.79 Acres, C2 Zoning, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 5.79-acre commercial land parcel in Peoria, Illinois, presents a unique investment opportunity. Located at 10023 Knoxville Ave, Peoria, IL 61615, this property boasts a prime location in North Peoria, surrounded by a thriving mix of retail, office, medical facilities, and hotels. The site is zoned C2, allowing for a wide range of commercial development possibilities. A recent subsurface soil and groundwater investigation by Mohr and Kerr Engineering revealed favorable conditions for construction. The entire 7-parcel site is available for $1,500,000, offering significant potential for large-scale development. Alternatively, the seller is willing to divide the property, offering individual parcels at varying prices. Parcel 008 is available for $210,000 ($5.00 PSF), Parcel 009 for $290,000 ($5.00 PSF), Parcel 020 for $412,000 ($10.00 PSF), Parcels 013 & 021 for $498,000 ($10.00 PSF), and Parcels 017 & 022 for $576,000 ($10.00 PSF). The property features approximately 13,100 cars per day traffic count on Knoxville Avenue. Utilities are readily available, making this a truly turnkey opportunity for developers seeking a strategic location with excellent infrastructure and high visibility. This is a rare chance to acquire a substantial commercial land holding in a rapidly growing area.

    Property Features for 10023 Knoxville Ave

    General Information

    Property type
    Land
    Lot Size
    45,738 SF

    HighLights

    • 5.79‑acre commercial land parcel in Peoria, IL, available for $1,500,000.
    • Individual parcels available: Parcel 008: $210,000 ($5.00 PSF); Parcel 009: $290,000 ($5.00 PSF); Parcel 020: $412,000 ($10.00 PSF); Parcels 013 & 021: $498,000 ($10.00 PSF); Parcels 017 & 022: $576,000 ($10.00 PSF).
    • Located at 10023 Knoxville Ave, Peoria, IL 61615, in a prime North Peoria location with high visibility (13,100 cars/day).
    • C2 zoning allows for diverse commercial development.
    • Favorable subsurface conditions per Mohr and Kerr Engineering report.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jaymo's Sauces Wholesaler

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.613061225852
    Latitude
    40.811898715584

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    FAQs

    What type of property is this?
    Land - 5.79 Acres, C2 Zoning, Prime Location
    Where is this land located?
    The property is located at 10023 Knoxville Ave Peoria, IL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 5.79-acre commercial land parcel in Peoria, IL, available for $1,500,000.; Individual parcels available: Parcel 008: $210,000 ($5.00 PSF); Parcel 009: $290,000 ($5.00 PSF); Parcel 020: $412,000 ($10.00 PSF); Parcels 013 & 021: $498,000 ($10.00 PSF); Parcels 017 & 022: $576,000 ($10.00 PSF).; Located at 10023 Knoxville Ave, Peoria, IL 61615, in a prime North Peoria location with high visibility (13,100 cars/day).
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    Peoria, IL 61615
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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
    10023 Knoxville Ave Peoria, IL 61615
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