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    5514 War Memorial Dr Peoria, IL 61615

    Sponsored
    For Sale
    Contact for pricing

    Prime Peoria land, multi-use potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Two adjacent parcels totaling 7.4 to 14.8 acres are available for sale in Peoria, Illinois, situated near the Grand Prairie Shopping Center at 5514 W War Memorial Dr, Peoria, IL 61615. The property is currently zoned A1-Agricultural, presenting a unique opportunity for redevelopment. The initial offering focuses on approximately 7.4 acres ideally positioned on the hard corner of War Memorial Drive and Orange Prairie Road, presenting prime retail potential. An additional 7.4 acres lies directly south, extending to West Landens Way. The total acreage may vary slightly depending on the buyer's needs, and precise dimensions will be determined by a professional land survey conducted as part of the due diligence process. The land is priced at $4.50 per square foot. This location offers significant potential for various commercial and multi-family uses, subject to successful rezoning. The proximity to the established Grand Prairie Shopping Center provides excellent visibility and accessibility, making it an attractive investment opportunity for developers seeking a strategic location in a growing area. Interested parties should conduct their own due diligence to confirm zoning regulations and development possibilities.

    Property Features for 5514 War Memorial Dr

    General Information

    Property type
    Farms
    Lot Size
    322,344 SF

    HighLights

    • 7.4 - 14.8 acres of mixed‑use land available for sale in Peoria, IL.
    • Located adjacent to Grand Prairie Shopping Center.
    • Zoned A1‑Agricultural, with potential for rezoning to General Commercial and Multi‑Family.
    • Land value: $4.50/SF.
    • Situated at 5514 W War Memorial Dr, Peoria, IL 61615.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -89.679864375297
    Latitude
    40.778057869495

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    FAQs

    What type of property is this?
    Farm - Prime Peoria land, multi-use potential.
    Where is this farm located?
    The property is located at 5514 War Memorial Dr Peoria, IL.
    What are key features of this property?
    This property features: 7.4 - 14.8 acres of mixed-use land available for sale in Peoria, IL.; Located adjacent to Grand Prairie Shopping Center.; Zoned A1-Agricultural, with potential for rezoning to General Commercial and Multi-Family.
    Request Owner's contact information
    5514 War Memorial Dr Peoria, IL 61615
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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
    5514 War Memorial Dr Peoria, IL 61615
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