2020 War Memorial Dr, Peoria, IL 61614

This exceptional redevelopment opportunity presents a 26,216 square foot, three-story brick building situated on a 1.25-acre lot in Peoria, Illinois. Currently vacant, the property boasts a permitted C2 zoning designation, allowing for its conversion into senior housing – a project already approved. Built in 1970, the building offers ample parking with 55 spaces, a significant advantage in this market. The property's strategic location provides easy access to I-74, Northwoods Mall, Westlake Shopping Center, numerous hotels, and various restaurants, ensuring high visibility and convenient access for residents. A fully furnished one-bedroom apartment is included on the third floor. Adding to the potential, the seller has a relationship with the owner of an adjacent 1.2-acre parcel, potentially opening up expansion opportunities. The asking price for this prime Peoria property is $925,000. This presents a unique chance to capitalize on the growing demand for senior housing in a highly desirable location. The property's existing infrastructure and approved conversion plans significantly reduce the time and cost associated with typical redevelopment projects. This is a truly exceptional investment opportunity. The APN is 14-30-201-004.