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    3915 Progress Blvd Peru, IL 61354

    • Commercial real estate
    • 6,000 SF
    • 0.45 lot acres
    For Sale
    View listing
    $350,000
    Value Estimation
    Last Sale
    May 05, 2025
    $290,000
    Location Intelligence
    Property ID
    US28-3686314
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Laco Radio / Radio Broadcaster

    Property Details for 3915 Progress Blvd

    Lot size
    0.45 lot acres
    Property size
    6,000 SF
    Property type
    Commercial real estate
    APN
    17-04-314-005
    APU
    1704314005

    Description

    This exceptional 5,000-square-foot commercial building is strategically located in North Peru, Illinois, offering unparalleled convenience with its proximity to Interstate 80. The property sits on a 0.45-acre lot and boasts a spacious interior perfect for a variety of commercial ventures. Previously used as an auto parts store, the building features a substantial 12-foot overhead door, making it suitable for businesses requiring easy access for larger vehicles or equipment. The concrete flooring provides durability and ease of maintenance. Ample parking is available on-site, accommodating approximately 20 vehicles. This versatile property presents a significant opportunity for businesses seeking a well-maintained, readily accessible space in a thriving location. The building is available for immediate purchase, and lease options are also available. Its prime location and functional design make it an attractive option for a wide range of commercial uses. The property's size and features offer significant potential for growth and expansion. Interested parties are encouraged to schedule a viewing to fully appreciate the possibilities this exceptional commercial space offers. The asking price is $350,000.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $275,000

    • CAP approach

      CAP return
      Estimation
      6%
      $235,000
      6.5%
      $255,000
      7%
      $230,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $220,000
      Geo Method
      $280,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $240,000
      Retail
      $225,000
      Mixed-Use
      $230,000
      Hospitality
      $225,000
      Educational
      $255,000
      Residential Income
      $250,000
      Energy
      $215,000
      Income-Based Land
      $220,000
      Food Service
      $215,000

    Location Insight

    • Map
    • Local Demand
    City
    Peru
    County
    Lasalle
    State
    Illinois
    Longitude
    -89.1216
    Latitude
    41.3553
    CBSA code
    36837
    CBSA name
    OTTAWA, IL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,532
    $18,550
    $63,992
    $82,542
    -
    $55,650
    $191,976
    $247,626

    Comparable in this City

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    3915 Progress Blvd
    Peru, IL 61354
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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
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