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    Eastgate Dr East Peoria, IL 61571

    Sponsored
    For Sale
    $198,634

    1.14-acre B-1 zoned lot, ready to build.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1.14-acre commercial land parcel presents a unique development opportunity in East Peoria, Illinois. Located at the highly visible hard corner of Eastgate Drive and Grosenbach Road, this property boasts a strategic location with excellent visibility and accessibility. The lot is zoned B-1, allowing for a variety of commercial uses, making it ideal for businesses seeking a prominent presence in a thriving area. Its size provides ample space for a substantial development project, catering to diverse business needs. The property's location within the city of Washington, Tazewell County, Illinois, offers easy access to major transportation routes and a strong local economy. The 61571 zip code further underscores its convenient location within a well-established community. With its prime location, favorable zoning, and significant size, this property represents a compelling investment opportunity for developers and entrepreneurs alike. The site is ready for immediate development, eliminating lengthy permitting delays and allowing for a swift start to construction. This is a rare chance to acquire a highly desirable commercial lot in a rapidly growing area. Don't miss this opportunity to secure a prime location for your next commercial venture.

    Property Features for 0 Eastgate Dr

    General Information

    Property type
    Land
    Lot Size
    49,658 SF

    HighLights

    • 1.14‑acre commercial lot zoned B‑1.
    • High‑visibility corner lot at Eastgate Drive and Grosenbach Road in East Peoria, IL.
    • Ready for immediate development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    East Peoria
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.5080308
    Latitude
    40.7163082

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    FAQs

    What type of property is this?
    Land - 1.14-acre B-1 zoned lot, ready to build.
    Where is this land located?
    The property is located at Eastgate Dr East Peoria, IL.
    What is the asking price?
    The asking price for this property is $198,634.
    What are key features of this property?
    This property features: 1.14-acre commercial lot zoned B-1.; High-visibility corner lot at Eastgate Drive and Grosenbach Road in East Peoria, IL.; Ready for immediate development.
    (309) 687-5000
    Request Owner's contact information
    Eastgate Dr East Peoria, IL 61571
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    East Peoria, IL 61571
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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
    Eastgate Dr East Peoria, IL 61571
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