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    015 Harris Rd East Peoria, IL 61611

    Sponsored
    For Sale
    $264,900

    3.75-Acre R-4 Zoned Lot, Great Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 3.75-acre parcel in East Peoria, Illinois, presents a remarkable opportunity for multi-family development. Currently zoned R-4, this land is ideally suited for apartments, condos, duplexes, townhomes, or row houses. Its prime location offers convenient access to schools, interstate highways, and shopping centers, ensuring high desirability for future residents. The property boasts level land with readily available utilities, although verification of lot-line access is recommended by the buyer. The seller notes that the 3.75-acre parcel could be divided into four smaller lots, approximately 1.18 acres, 0.93 acres, 0.86 acres, and 0.78 acres. Two of the potential lots would front Briarbrook Drive, while the other two would front Harris Road. The property has frontage on both Briarbrook and Harris Road. The asking price is $264,900, and the size and price are negotiable depending on the number of remaining parcels at the time of purchase. Please note that the address listed is provisional

    Property Features for 015 Harris Rd

    General Information

    Property type
    Land

    HighLights

    • 3.75‑acre multi‑family development site in East Peoria, IL, zoned R‑4.
    • Prime location near schools, interstate access, and shopping.
    • Level land with readily available utilities; buyer to verify lot‑line access.
    • Potential for subdivision into four lots (approx. 1.18, 0.93, 0.86, and 0.78 acres) with frontage on Briarbrook and Harris Roads.
    • Asking price: $264,900, negotiable based on number of remaining parcels.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Nail Salon Building Supply Gym & Fitness Auto Repair Shop Pharmacy Daycare Center Wholesale Shop Department Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    East Peoria
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.5518364
    Latitude
    40.6320752

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    FAQs

    What type of property is this?
    Land - 3.75-Acre R-4 Zoned Lot, Great Location
    Where is this land located?
    The property is located at 015 Harris Rd East Peoria, IL.
    What is the asking price?
    The asking price for this property is $264,900.
    What are key features of this property?
    This property features: 3.75-acre multi-family development site in East Peoria, IL, zoned R-4.; Prime location near schools, interstate access, and shopping.; Level land with readily available utilities; buyer to verify lot-line access.
    Request Owner's contact information
    015 Harris Rd East Peoria, IL 61611
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    East Peoria, IL 61611
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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
    015 Harris Rd East Peoria, IL 61611
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