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    3401 Griffin Ave Pekin, IL 61554

    Sponsored
    For Sale
    $1,500,000

    33-Acre Complex, $1.5M

    Property size:
    8,348 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 33.13-acre property in Pekin, Illinois, presents a unique investment opportunity. The site boasts an 8,348 square foot event center, complete with a 3,000 square foot banquet room accommodating up to 250 guests and a fully equipped commercial kitchen. Four baseball fields with dugouts, concessions, and ample restrooms are also included. The property features a sprinkler system and substantial infrastructure, including the concrete perimeter walls of a previously existing 86,597 square foot event dome. The B3 zoning allows for diverse uses. The building is single-story, renovated in 2004. This turnkey operation is priced at $1,500,000, or $179.68 per square foot. An adjacent 11.03-acre parcel is available separately, offering potential for expansion to a total of 44.16 acres. The location benefits from recent nearby developments, including hotels and a gym, suggesting strong growth potential. This property is ideal for an entrepreneur seeking a thriving sports and entertainment venue or a developer looking to capitalize on the existing infrastructure and prime location. The property is located at 3401 Griffin Ave, Pekin, IL 61554, in Tazewell County.

    Property Features for 3401 Griffin Ave

    General Information

    Property type
    Specialty properties
    Square Feet
    8,348 SF
    Lot Size
    1,443,143 SF

    Building Details

    Year Renovated
    2004
    Buildings
    1
    Stories
    1

    HighLights

    • 33.13‑acre property with an 8,348 SF event center in Pekin, IL.
    • Event center includes a 3,000 SF banquet room (250+ capacity) and a fully equipped commercial kitchen.
    • Four baseball fields with dugouts, concessions, and restrooms.
    • Existing infrastructure includes the concrete foundation of a former 86,597 SF dome.
    • B3 zoning allows for diverse uses.
    • Adjacent 11.03‑acre parcel available for expansion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Zeller Banquet Center Banquet Hall Dragon's Dome Event Management Company Avanti's Dome Recreation Center Bright Company Leather Wholesaler

    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
    -89.598306699627
    Latitude
    40.549064570759

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    FAQs

    What type of property is this?
    Specialty property - 33-Acre Complex, $1.5M
    Where is this specialty property located?
    The property is located at 3401 Griffin Ave Pekin, IL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 33.13-acre property with an 8,348 SF event center in Pekin, IL.; Event center includes a 3,000 SF banquet room (250+ capacity) and a fully equipped commercial kitchen.; Four baseball fields with dugouts, concessions, and restrooms.
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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
    3401 Griffin Ave Pekin, IL 61554
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