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    1616 Chanute Rd Peoria, IL 61615

    Sponsored
    For Lease
    $3 SF/Yr

    Large warehouse, multiple tenants, ample parking.

    Lot size:
    107,496 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional industrial property, located at 1616-1620 W Chanute Rd in Peoria, Illinois, offers a significant opportunity for warehouse and distribution businesses. The property encompasses a substantial 107,496 square feet of space, currently entirely vacant and available for lease. The building is divisible, with a minimum leasable area of 64,230 square feet and a maximum contiguous space of 43,266 square feet, providing flexibility for various business needs. The property sits on a generous 7.41-acre lot, ensuring ample room for operations and expansion. Loading and unloading are facilitated by 24 loading docks and 2 drive-in doors. Extensive parking is available to accommodate employees and visitors. The warehouse benefits from robust 3-phase, 300-amp power, supporting demanding operational requirements. Situated in Peoria County, Illinois, zip code 61615, this property offers excellent access to major transportation routes, making it an ideal location for efficient logistics and distribution. This is a rare opportunity to secure a large, well-equipped warehouse space in a prime industrial location. Contact us today to learn more about leasing options.

    Property Features for 1616 Chanute Rd

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    107,496 SF
    Total Rate
    33592.5

    Unit(s) available at that property

    Space
    Space Available - 1616 Chanute
    Size
    43,266 SF
    Rate per SF
    $3
    Space
    Space Available - 1620 Chanute
    Size
    64,230 SF
    Rate per SF
    $3

    HighLights

    • 107,496 square feet of total available warehouse space.
    • Ample parking with direct unit access.
    • Fully sprinklered buildings.
    • 3‑phase, 300‑amp power.
    • 24 loading docks and 2 drive‑in bays (expandable).
    • 64,230 square feet contiguous space available in one building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Vital Records Control Records Storage Facility Riverside Tool & Die Tool & Die Shop

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Hair Salon Wholesale Shop Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6175801
    Latitude
    40.7932343

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    FAQs

    What type of property is this?
    Distribution property - Large warehouse, multiple tenants, ample parking.
    Where is this distribution property located?
    The property is located at 1616 Chanute Rd Peoria, IL.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    What are key features of this property?
    This property features: 107,496 square feet of total available warehouse space.; Ample parking with direct unit access.; Fully sprinklered buildings.
    Request Owner's contact information
    1616 Chanute Rd 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
    1616 Chanute Rd Peoria, IL 61615
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