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    Fairview Ave East Peoria, IL 61611

    Sponsored
    For Sale
    $449,000

    7.4 Acres, Multifamily Zoning, East Peoria

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 7.4-acre parcel in East Peoria, Illinois, presents a compelling redevelopment opportunity. Located conveniently off Camp Street near the I-74 exit, this property boasts R-4 Multifamily zoning, making it ideal for a variety of multifamily residential projects. Previously utilized as a trailer park, existing utilities are already in place, significantly reducing development costs and timelines. The site's strategic location offers easy access to the interstate, providing convenient commutes for future residents. Furthermore, the property's proximity to numerous restaurants and retail establishments enhances its appeal and potential for attracting tenants. This is a rare chance to acquire a substantial land holding in a thriving area with established infrastructure and high demand for housing. The asking price is $449,000. The property is classified as Industrial, Land, Mixed Use, and Multifamily, with a single tenancy. Located at Fairview Ave, East Peoria, IL 61611, in Tazewell County. This is a prime investment for developers seeking a high-return project in a desirable location. The property's size and zoning provide significant flexibility for various development plans, catering to a wide range of housing needs. Don't miss this chance to capitalize on the growing East Peoria market.

    Property Features for 0 Fairview Ave

    General Information

    Property type
    Multifamily properties
    Lot Size
    322,344 SF

    HighLights

    • 7.4‑acre multi‑family zoned land parcel in East Peoria, IL.
    • Convenient Camp Street location near I‑74 exit.
    • Existing utilities in place from prior trailer park use.
    • Excellent redevelopment opportunity.
    • Close proximity to restaurants and retail amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    East Peoria
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.569031847034
    Latitude
    40.666915989803

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    FAQs

    What type of property is this?
    Multifamily property - 7.4 Acres, Multifamily Zoning, East Peoria
    Where is this multifamily property located?
    The property is located at Fairview Ave East Peoria, IL.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: 7.4-acre multi-family zoned land parcel in East Peoria, IL.; Convenient Camp Street location near I-74 exit.; Existing utilities in place from prior trailer park use.
    Request Owner's contact information
    Fairview Ave 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
    Fairview Ave East Peoria, IL 61611
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