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514 Main St Peoria, IL 61606

Sponsored
For Sale
$999,000

1.65-acre Peoria commercial complex, 5 buildings.

Description

Added:
Dec 11, 2024
Days on Market:
391
This exceptional 1.65-acre Peoria, Illinois property, located at 514 W MAIN Street, zip code 61606, presents a unique investment opportunity. The site boasts five existing buildings offering diverse potential uses. One building, a former car dealership, provides ample storage space. An adjacent building features a blend of apartments and office space, while another building previously served as a restaurant. All buildings are available for sale together, or the property can be subdivided through negotiation. The property's prime location on a highly trafficked section of Main Street, situated between Peoria's hospitals and Bradley University, makes it ideal for redevelopment or continued use. The existing structures offer immediate income potential or the opportunity to create a mixed-use development. This substantial land parcel offers significant upside for investors seeking a multi-faceted commercial venture. Furthermore, an additional 1.14 acres of adjacent land is available for purchase, expanding the development potential to a total of 2.79 acres. This presents a rare chance to acquire a large-scale development site in a thriving Peoria location. The property is zoned for commercial use and offers excellent visibility and accessibility.

Property Features for 514 Main St

General Information

Property type
Flex space

Building Details

Buildings
5

HighLights

  • 1.65‑acre commercial property at 514 W Main Street, Peoria, IL 61606.
  • Five existing buildings with diverse uses including former car dealership (ample storage), apartments/office space, and a former restaurant.
  • Property can be sold as a whole or subdivided.
  • Prime location on high‑traffic Main Street, between Peoria hospitals and Bradley University, ideal for redevelopment or continued use.
  • Potential for immediate income or mixed‑use development; adjacent 1.14 acres also available for purchase (total 2.79 acres).
  • Commercially zoned with excellent visibility and accessibility.
Property Profile Location Intelligence

Current Use by Public Records

The Neon Bison Bar

Suggested Use

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

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

Location Insight

  • Map
  • Local Demand
City
Peoria
County
Peoria
State
Illinois
Longitude
-89.6009867
Latitude
40.6993438

FAQs

What type of property is this?
Flex space - 1.65-acre Peoria commercial complex, 5 buildings.
Where is this flex space located?
The property is located at 514 Main St Peoria, IL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 1.65-acre commercial property at 514 W Main Street, Peoria, IL 61606.; Five existing buildings with diverse uses including former car dealership (ample storage), apartments/office space, and a former restaurant.; Property can be sold as a whole or subdivided.
More about this property
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