Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    2901 Prospect Rd Peoria, IL 61603

    For Sale
    $299,900

    Prime Peoria commercial land, church building included.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional commercial property, located at 2901 N PROSPECT Road, Peoria, IL 61603, presents a unique investment opportunity. The property consists of a 1950-built building situated on a sizable lot, currently configured as a church. The building features steel and concrete floors, offering significant structural integrity. While the exact square footage of the basement (approximately 2696 sq ft, including a walkout addition) and upper mezzanine area (approximately 890 sq ft) are not included in the overall square footage, they represent substantial additional space. The property includes three HVAC systems, ensuring climate control throughout. The ample parking lot, currently accommodating approximately 30 vehicles, offers potential for expansion with restripping. Accessibility features include a handicap-accessible ramp and designated parking spaces in the rear. Recent upgrades include a new water heater (2023), upgraded electrical systems, and fiber optic capabilities. Many valuable items will remain with the sale, including approximately 100 newer chairs and all kitchen appliances. (Note: piano and upper-level bedroom furniture are excluded). The baptismal font is also present. This property offers significant potential for various commercial uses, given its size, location, and existing infrastructure. The property is priced at $299,900.

    Property Features for 2901 Prospect Rd

    General Information

    Property type
    Land

    Building Details

    Year Built
    1950
    Buildings
    1

    HighLights

    • Exceptional investment opportunity: 2901 N PROSPECT Road, Peoria, IL 61603, priced at $299,900.
    • 1950‑built building on a large lot, currently used as a church.
    • Steel and concrete floors; substantial additional space in the basement (approx. 2696 sq ft) and mezzanine (approx. 890 sq ft).
    • Three HVAC systems, ample parking (approx. 30 vehicles), and handicap accessibility.
    • Recent upgrades include a new water heater (2023), electrical system upgrades, and fiber optic capabilities.
    • Includes approximately 100 newer chairs and all kitchen appliances.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Infogenic Systems Computer Consultant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.5761038
    Latitude
    40.7222501

    Nearby Similar for Sale

    • $325,000
      5,228 SF

      Peoria Investment Property Package

      Two Peoria properties: quadraplex and commercial/residential with income potential.
      711 W Ridge Rd, Peoria, IL 61614
      View Details
    • $1,600,000
      Pending

      Underhill Apartments: Peoria Multifamily Investment

      20-unit multifamily property in Peoria with renovation and rent growth potential.
      1119 N Underhill St, Peoria, IL 61606
      View Details
    • $168,000
      1,648 SF

      Bradley University Investment Opportunity

      Multi-family property near Bradley University, ideal for student housing.
      1620 W Fredonia Ave, Peoria, IL 61606
      View Details
    • $550,000
      4,879 SF

      Bradley University Investment Portfolio

      Six-house portfolio near Bradley University with strong occupancy and cash flow.
      700 N Underhill St, Peoria, IL 61606
      View Details
    • $250,000
      Pending

      Updated Duplex in Peoria, IL

      Income-producing duplex with updates, spacious areas, and attached garages.
      1521-1523 W Daytona Dr, Peoria, IL 61614
      View Details
    • $107,000
      2,246 SF

      Peoria Multifamily Investment Opportunity

      Multi-family property with two units, ideal for investors.
      609 W Armstrong Ave, Peoria, IL 61606
      View Details

    FAQs

    What type of property is this?
    Land - Prime Peoria commercial land, church building included.
    Where is this land located?
    The property is located at 2901 Prospect Rd Peoria, IL.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: Exceptional investment opportunity: 2901 N PROSPECT Road, Peoria, IL 61603, priced at $299,900.; 1950-built building on a large lot, currently used as a church.; Steel and concrete floors; substantial additional space in the basement (approx. 2696 sq ft) and mezzanine (approx. 890 sq ft).
    Request Owner's contact information
    2901 Prospect Rd Peoria, IL 61603
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2901 Prospect Rd
    Peoria, IL 61603
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2901 Prospect Rd Peoria, IL 61603
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.