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    3500 Griffin Ave Pekin, IL 61554

    For Sale
    $599,000

    11 Acres, B3 Zoning, Prime Development

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 11.03-acre parcel of land presents a compelling investment opportunity in Pekin, Illinois. Located at 3500 Griffin Ave, Tazewell County, this property boasts a highly desirable B3 zoning designation, opening doors to a wide range of commercial and industrial development possibilities. The APN is 11-11-07-111-008, and the property is conveniently situated in a rapidly growing area. The site itself is relatively flat, simplifying development plans, and essential utilities are readily accessible nearby. Recent development in the immediate vicinity includes the construction of hotels and a fitness center, indicating a strong and expanding local economy. This prime location, combined with the substantial lot size and favorable zoning, makes this property an ideal choice for developers seeking to capitalize on the area's growth potential. The asking price for this exceptional land parcel is $599,000. The zip code is 61554. This is a rare opportunity to acquire a significant land holding in a thriving Illinois community.

    Property Features for 3500 Griffin Ave

    General Information

    Property type
    Land
    Lot Size
    480,467 SF

    HighLights

    • $599,000 asking price.
    • 11.03‑acre commercial/industrial land parcel.
    • B3 zoning.
    • Located at 3500 Griffin Ave, Pekin, IL 61554 (APN: 11‑11‑07‑111‑008).
    • Relatively flat site with nearby utilities and recent development activity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Pekin
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.5958683
    Latitude
    40.5490531

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    FAQs

    What type of property is this?
    Land - 11 Acres, B3 Zoning, Prime Development
    Where is this land located?
    The property is located at 3500 Griffin Ave Pekin, IL.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: $599,000 asking price.; 11.03-acre commercial/industrial land parcel.; B3 zoning.
    Request Owner's contact information
    3500 Griffin Ave Pekin, IL 61554
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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
    3500 Griffin Ave Pekin, IL 61554
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