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    4 Harris Rd East Peoria, IL 61611

    Sponsored
    For Sale
    $79,900

    Prime multi-family development land.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.78-0.93 acre lot, part of a larger 3.75-acre parcel being subdivided into four, presents a remarkable opportunity for multi-family development in East Peoria, Illinois. Conveniently located near schools, interstate access, and shopping amenities, this level lot is already zoned R-4 multi-family, making it ideal for apartments, condos, duplexes, townhomes, or row houses. Utilities are available at the street, although buyers should independently verify their proximity to the lot line. The property offers either Briarbrook Drive or Harris Road frontage, depending on the specific lot selected. Please note that the listed address is provisional, as the official address and legal description are pending. The asking price of $79,900 is for this specific parcel, and the final size and price may be subject to negotiation depending on lot availability. Taxes currently reflect the entire undivided parcel. All dimensions are approximate, and buyers are responsible for verifying the suitability of the property for their intended use. This is a rare chance to acquire a well-situated lot in a thriving area, perfect for investors seeking a high-return multi-family project. The proposed lot sizes range from approximately 0.78 to 0.93 acres.

    Property Features for 4 Harris Rd

    General Information

    Property type
    Land

    HighLights

    • 0.78‑0.93 acre multi‑family zoned lot in East Peoria, IL.
    • Part of a 3.75‑acre parcel being subdivided into four lots.
    • Excellent location near schools, interstate, and shopping.
    • R‑4 multi‑family zoning allows for apartments, condos, townhomes, etc.
    • Utilities available at the street (buyer verification recommended).
    • Frontage on Briarbrook Drive or Harris Road.
    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
    -89.5510383
    Latitude
    40.6319118

    Nearby Comparable

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      East Peoria Multi-Family Land

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      2 Briarbrook Dr, East Peoria, IL 61611
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    • Contact for pricing
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    FAQs

    What type of property is this?
    Land - Prime multi-family development land.
    Where is this land located?
    The property is located at 4 Harris Rd East Peoria, IL.
    What is the asking price?
    The asking price for this property is $79,900.
    What are key features of this property?
    This property features: 0.78-0.93 acre multi-family zoned lot in East Peoria, IL.; Part of a 3.75-acre parcel being subdivided into four lots.; Excellent location near schools, interstate, and shopping.
    Request Owner's contact information
    4 Harris Rd 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
    4 Harris Rd East Peoria, IL 61611
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