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    128 Monroe St Peoria, IL 61602

    Sponsored
    For Lease
    $13 SF/Yr ($14,895 /Mo)

    Retail, Office, Restaurant - 2,500-13,750 SF

    Lot size:
    13,750 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 13,750-square-foot commercial property at 128 SW Monroe Street in Peoria, Illinois, offers unparalleled opportunities for retail, office, or restaurant businesses. Located in the heart of downtown Peoria, this single-story building boasts a highly desirable location directly across from the Peoria Civic Center and its ample parking, and adjacent to the Peoria Marriott Pere Marquette hotel and its parking deck. The property sits on a 0.9-acre lot and is zoned B-1, allowing for a variety of uses. The entire 13,750 square feet is currently vacant and available, offering flexibility for tenants seeking spaces ranging from a minimum of 2,500 square feet to a maximum contiguous space of 9,600 square feet. Other divisible space options include 4,500 and 5,100 square feet. The building features impressive 15-foot ceilings and infrastructure prepared for sprinkler systems. This property benefits from its strategic location within a Federal Opportunity Zone (Census Tract 12) and the Rivers Edge Redevelopment Zone, presenting significant investment advantages. The area is experiencing revitalization, with a growing demand for family-friendly dining and diverse retail options. The property's proximity to major attractions and its adaptable space make it an ideal location for professional offices, such as financial advisory firms, law offices, or medical clinics. The property's APN is 18-09-206-016, and it's located in Peoria County, Illinois, zip code 61602.

    Property Features for 128 Monroe St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    13,750 SF
    Total Rate
    14895.83

    Building Details

    Stories
    1

    Unit(s) available at that property

    Space
    Available space
    Size
    13,750 SF
    Rate per SF
    $13

    HighLights

    • 13,750 SF single‑story commercial building in downtown Peoria, IL.
    • Prime location across from the Peoria Civic Center and adjacent to the Peoria Marriott Pere Marquette hotel.
    • 0.9‑acre lot, B‑1 zoning, allowing for various uses including retail, office, and restaurant.
    • Currently vacant, divisible spaces available from 2,500 SF to 9,600 SF contiguous, with additional options of 4,500 SF and 5,100 SF.
    • Features 15‑foot ceilings and infrastructure for sprinkler systems.
    • Located in a Federal Opportunity Zone (Census Tract 12) and the Rivers Edge Redevelopment Zone.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Spa & Massage Restaurant Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.5932727
    Latitude
    40.694002

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    FAQs

    What type of property is this?
    Restaurant - Retail, Office, Restaurant - 2,500-13,750 SF
    Where is this restaurant located?
    The property is located at 128 Monroe St Peoria, IL.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: 13,750 SF single-story commercial building in downtown Peoria, IL.; Prime location across from the Peoria Civic Center and adjacent to the Peoria Marriott Pere Marquette hotel.; 0.9-acre lot, B-1 zoning, allowing for various uses including retail, office, and restaurant.
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    128 Monroe St Peoria, IL 61602
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    Peoria, IL 61602
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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
    128 Monroe St Peoria, IL 61602
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