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    3901 Reservoir Blvd Peoria, IL 61615

    Sponsored
    For Sale
    $185,000

    Multi-use zoned land, prime Peoria location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 5.83-acre property located at 3901 W RESERVOIR Boulevard in Peoria, Illinois, presents a unique investment opportunity. Currently zoned R3 Single-Family Residential District (Medium Density), this expansive parcel offers significant potential for diverse development projects. The asking price is $185,000. Its versatility allows for a range of uses, including the creation of a secluded homesite, a multi-family residential development, a medical office building, or an assisted living facility. The property's substantial size and flexible zoning make it an attractive prospect for developers and investors seeking a prime location in Peoria, IL (zip code 61615). Situated at latitude 40.732486 and longitude -89.654737, this land offers convenient access to Peoria's amenities and infrastructure. The property's classification includes both commercial and residential subtypes, reflecting its adaptability to various development plans. This is a rare opportunity to acquire a large parcel of land in a desirable area with the potential for significant returns. Serious inquiries are encouraged.

    Property Features for 3901 Reservoir Blvd

    General Information

    Property type
    Land

    HighLights

    • 5.83‑acre R3‑zoned lot, ideal for diverse development including single‑family homes, multifamily housing, medical offices, or assisted living facilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Dental Office Clothing Store Gym & Fitness Pharmacy Accounting Firm Kitchen & Bath Daycare Center HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.654737
    Latitude
    40.732486

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    FAQs

    What type of property is this?
    Land - Multi-use zoned land, prime Peoria location.
    Where is this land located?
    The property is located at 3901 Reservoir Blvd Peoria, IL.
    What is the asking price?
    The asking price for this property is $185,000.
    What are key features of this property?
    This property features: 5.83-acre R3-zoned lot, ideal for diverse development including single-family homes, multifamily housing, medical offices, or assisted living facilities.; ;
    (309) 687-5000
    Request Owner's contact information
    3901 Reservoir Blvd 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
    3901 Reservoir Blvd Peoria, IL 61615
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