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    2103 Parkway Dr Pekin, IL 61554

    Sponsored
    For Sale
    $139,900

    1.14-Acre Office Land, Excellent Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 1.14-acre commercial property, located at 2103 N PARKWAY Drive in Pekin, Illinois, presents a unique investment opportunity. The 1987-built office building boasts solid brick construction by Antonini Builders, ensuring durability and longevity. The property features ample parking, a significant advantage for any business. The building's large, open rooms offer considerable adaptability, making it suitable for a wide range of office uses. The expansive lot allows for potential expansion, catering to future growth needs. Existing infrastructure includes French drains addressing water retention. Beyond its commercial viability, this property also holds strong potential for conversion into a residential home, offering flexibility for diverse investment strategies. The property is situated in Tazewell County, Illinois, zip code 61554, and is conveniently located at latitude 40.5849919 and longitude -89.6177891. The asking price is $139,900.

    Property Features for 2103 Parkway Dr

    General Information

    Property type
    Office Properties & Spaces

    Building Details

    Year Built
    1987

    HighLights

    • 1.14‑acre commercial lot at 2103 N PARKWAY Drive, Pekin, IL 61554.
    • Solid brick, 1987‑built office building with ample parking.
    • Large, adaptable open floor plan suitable for various office uses.
    • Expansive lot allows for future expansion.
    • Existing French drains manage water retention.
    • $139,900 asking price.
    Property Profile Location Intelligence

    Current Use by Public Records

    SEM Inc-Sharp's Electronic Computer Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Pekin
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.6177891
    Latitude
    40.5849919

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    FAQs

    What type of property is this?
    Office Property / Space - 1.14-Acre Office Land, Excellent Potential
    Where is this office property / space located?
    The property is located at 2103 Parkway Dr Pekin, IL.
    What is the asking price?
    The asking price for this property is $139,900.
    What are key features of this property?
    This property features: 1.14-acre commercial lot at 2103 N PARKWAY Drive, Pekin, IL 61554.; Solid brick, 1987-built office building with ample parking.; Large, adaptable open floor plan suitable for various office uses.
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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
    2103 Parkway Dr Pekin, IL 61554
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