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    2 Briarbrook Dr East Peoria, IL 61611

    Sponsored
    For Sale
    $79,900

    1.18-Acre Lot, R-4 Zoning, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1.18-acre parcel in East Peoria, Illinois, presents a remarkable opportunity for multi-family development. Currently zoned R-4, this level, cleared lot is ideally suited for apartments, duplexes, townhouses, or row houses. Located behind a Dollar General store and within walking distance of a grade school, this property benefits from an established neighborhood setting and readily available utilities. The seller is open to dividing a larger 3.76-acre parcel into four individual lots, offering flexibility in acquisition size. While the exact lot dimensions may be subject to negotiation based on market conditions and availability at the time of offer, the approximate size is 1.18 acres. The property enjoys convenient access to Interstate 74-474 and the East Peoria Levee District, placing it within easy reach of Morton, Peoria, Pekin, and Washington. While a formal address and parcel ID are pending assignment by the city upon application for construction, the larger parcel is identified as 05-05-10-300-015. Prospective buyers are responsible for verifying the suitability of the property for their intended use, and utility access at the lot line should be independently confirmed. This is a truly exceptional opportunity to acquire land in a high-demand area with excellent potential for significant return on investment. The asking price is $79,900.

    Property Features for 2 Briarbrook Dr

    General Information

    Property type
    Land

    HighLights

    • $79,900 asking price for a 1.18‑acre commercial and residential land lot.
    • R‑4 multi‑family zoning, suitable for apartments, duplexes, townhouses, or row houses.
    • Located in East Peoria, IL, near a Dollar General and grade school, with utilities available.
    • Approximately 5 minutes from I‑74/474 and the East Peoria Levee District.
    • Parcel ID 05‑05‑10‑300‑015; lot size and address to be assigned upon purchase and construction application.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    East Peoria
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.5520994
    Latitude
    40.6322402

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    FAQs

    What type of property is this?
    Land - 1.18-Acre Lot, R-4 Zoning, Prime Location
    Where is this land located?
    The property is located at 2 Briarbrook Dr 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: $79,900 asking price for a 1.18-acre commercial and residential land lot.; R-4 multi-family zoning, suitable for apartments, duplexes, townhouses, or row houses.; Located in East Peoria, IL, near a Dollar General and grade school, with utilities available.
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    2 Briarbrook Dr 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
    2 Briarbrook Dr East Peoria, IL 61611
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