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    402 Center St East Peoria, IL 61611

    Sponsored
    For Sale
    $400,000

    4 Acres, East Peoria, IL - Investment Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 4-acre parcel presents a rare opportunity for industrial development in East Peoria, Illinois. Strategically located between Caterpillar's East Peoria facility and the railroad, this M2-zoned property offers unparalleled access to transportation and a skilled workforce. The site boasts existing utilities, including a readily available fire hydrant, ensuring a smooth transition for any project. A pre-existing concrete pad remains from a previous structure, potentially reducing initial development costs. The property's APN is 01-01-32-308-001. The asking price for this vacant land is $400,000. Its convenient location, coupled with the existing infrastructure, makes this an ideal site for a variety of industrial uses. The property is zoned for manufacturing and commercial purposes, providing flexibility for potential buyers. This is a unique chance to acquire a well-situated, ready-to-develop industrial site in a thriving Illinois community. The address is 402 CENTER Street, East Peoria, IL 61611. The property is classified as industrial land with commercial and manufacturing subtypes.

    Property Features for 402 Center St

    General Information

    Property type
    Manufacturing properties
    Lot Size
    174,240 SF

    HighLights

    • 4‑acre industrial land parcel in East Peoria, IL.
    • M2 zoning allows for manufacturing and commercial uses.
    • Prime location between Caterpillar and the railroad provides excellent access to transportation and workforce.
    • Existing utilities and fire hydrant on site.
    • Pre‑existing concrete pad reduces development costs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Wholesale Shop Auto Repair Shop Hotel & Motel Pharmacy Gym & Fitness Auto Parts 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
    -89.5909058
    Latitude
    40.6643764

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    FAQs

    What type of property is this?
    Manufacturing property - 4 Acres, East Peoria, IL - Investment Opportunity
    Where is this manufacturing property located?
    The property is located at 402 Center St East Peoria, IL.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: 4-acre industrial land parcel in East Peoria, IL.; M2 zoning allows for manufacturing and commercial uses.; Prime location between Caterpillar and the railroad provides excellent access to transportation and workforce.
    Request Owner's contact information
    402 Center St East Peoria, IL 61611
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    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
    402 Center St East Peoria, IL 61611
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