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    2119 Adams St Peoria, IL 61602

    For Sale
    $469,000

    Prime Peoria location, 23,684 SF, high potential.

    Property size:
    23,684 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional 23,684-square-foot mixed-use commercial property, located at 2119 SW Adams Street in downtown Peoria, Illinois, presents a unique investment opportunity. Built in 1922 and extensively renovated in 1984, 1988, and 1994, this Class B building sits on a generous 1.88-acre lot and offers a multitude of spaces ideal for various business needs. Previously occupied by a bank, the property features five distinct sections, all contiguous, providing flexibility for diverse tenants or a single large operation. The main area, formerly a retail bank branch, includes a large open area, teller stations, private offices, a conference room, and a secure vault. The four additional sections offer a combination of private offices, conference rooms, open work areas, break rooms, and ample storage. A lower level provides additional storage, conveniently accessible via a rear conveyor belt for deliveries. The property boasts approximately 92 parking spaces, with room for expansion. The robust infrastructure includes 3-phase 600-amp electrical service and an on-site backup generator. Convenient drive-thru and ATM lanes are already in place. The property is zoned CN and offers significant potential for redevelopment or continued use as a mixed-use space. This is a rare opportunity to acquire a substantial, well-maintained property in a desirable downtown Peoria location.

    Property Features for 2119 Adams St

    General Information

    Property type
    Individual retail properties
    Square Feet
    23,684 SF
    Class
    B
    Lot Size
    81,893 SF

    Building Details

    Year Built
    1922
    Buildings
    1
    Units
    1

    HighLights

    • 23,684 SF mixed‑use building on a 1.88‑acre lot in downtown Peoria, IL.
    • Class B building, constructed in 1922 with renovations in 1984, 1988, and 1994.
    • Five contiguous sections offering flexible space for multiple tenants or a single user.
    • Features include a large open area, private offices, conference rooms, secure vault, ample storage, and a lower‑level storage area with rear conveyor access.
    • 92 parking spaces with expansion potential, 3‑phase 600‑amp electrical service, on‑site backup generator, drive‑thru, and ATM lanes.
    • CN zoning allows for redevelopment or continued mixed‑use operation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Raymond James Financial ... Investment Service Busey Bank Financial Planner ATM Atm

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.613332358933
    Latitude
    40.676159011204

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    FAQs

    What type of property is this?
    Individual retail property - Prime Peoria location, 23,684 SF, high potential.
    Where is this individual retail property located?
    The property is located at 2119 Adams St Peoria, IL.
    What is the asking price?
    The asking price for this property is $469,000.
    What are key features of this property?
    This property features: 23,684 SF mixed-use building on a 1.88-acre lot in downtown Peoria, IL.; Class B building, constructed in 1922 with renovations in 1984, 1988, and 1994.; Five contiguous sections offering flexible space for multiple tenants or a single user.
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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
    2119 Adams St Peoria, IL 61602
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