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    359 Court St Pekin, IL 61554

    • Retail space
    • 4,146 SF
    • 0.11 lot acres
    For Sale
    View listing
    $299,900
    Value Estimation
    Last Sale
    Apr 11, 2025
    $297,000
    Location Intelligence
    Property ID
    US28-0861450
    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

    • Retail space

    Property Details for 359 Court St

    Year built
    1910
    Lot size
    0.11 lot acres
    Property size
    4,146 SF
    Property type
    Retail space
    APN
    04-04-34-434-015
    APU
    40434434015

    Description

    This exceptional 12,213 square foot commercial property, located at 359 Court Street in the heart of downtown Pekin, Illinois, presents a spectacular investment opportunity. The building, a charming historic structure situated near the courthouse, offers approximately 4,000 square feet on both the main and upper floors, providing ample space for a variety of businesses. The electrical system was updated in 2010, and the roof liner, featuring a fiber base with spray-on coating, was also replaced in 2010. A significant advantage is the non-load-bearing walls between rooms, allowing for flexible space planning and the creation of larger, open areas to suit specific business needs. The property includes a fully installed fire suppression system, ensuring safety and peace of mind. To further enhance the property, the seller is offering a $10,000 rebate towards bathroom upgrades. This is a rare chance to acquire a substantial, well-maintained commercial building in a prime downtown location with significant upside potential. The property sits on a 0-acre lot.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $305,000

    • CAP approach

      CAP return
      Estimation
      6%
      $330,000
      6.5%
      $360,000
      7%
      $360,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $340,000
      Geo Method
      $285,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $300,000
      Retail
      $330,000
      Mixed-Use
      $270,000
      Hospitality
      $315,000
      Educational
      $315,000
      Residential Income
      $330,000
      Energy
      $355,000
      Income-Based Land
      $335,000
      Food Service
      $305,000

    Location Insight

    • Map
    • Local Demand
    City
    Pekin
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.647
    Latitude
    40.5696
    CBSA code
    37900
    CBSA name
    PEORIA, IL METROPOLITAN 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
    $3,235
    $4,590
    $30,720
    $35,310
    -
    $13,770
    $92,160
    $105,930

    Comparable in this City

    • Value Estimation by Request
      1,333 SF

      522 Ct St

      RETAIL STORES (PERSONAL SERVICES) • 1,333 SF
      522 Ct St, Pekin, IL 61554-3301
      View Details
    • Value Estimation by Request
      1,550 SF

      506 Ct St

      RETAIL STORES (PERSONAL SERVICES) • 1,550 SF
      506 Ct St, Pekin, IL 61554-3301
      View Details
    • Value Estimation by Request
      1,164 SF

      2120 Ct St

      RETAIL STORES (PERSONAL SERVICES) • 1,164 SF
      2120 Ct St, Pekin, IL 61554-5217
      View Details
    • Value Estimation by Request
      504 SF

      518 Ct St

      RETAIL STORES (PERSONAL SERVICES) • 504 SF
      518 Ct St, Pekin, IL 61554-3301
      View Details
    • Value Estimation by Request
      4,600 SF

      121 2nd St

      RETAIL STORES (PERSONAL SERVICES) • 4,600 SF
      121 2nd St, Pekin, IL 61554
      View Details
    • Value Estimation
      $160,000
      3,520 SF

      310 Derby St

      RETAIL STORES (PERSONAL SERVICES) • 3,520 SF
      310 Derby St, Pekin, IL 61554-5616
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $14 SF/Yr
      1,200 SF

      Retail Space in North Pekin

      1,200 SF retail space in high-traffic area.
      3552-3560 Court St, Pekin, IL 61554
      View Details
    • $12 SF/Yr
      3,300 SF

      Retail Space in High Traffic Center

      Retail spaces available in Pekin's busy commercial corridor.
      3245 Court St, Pekin, IL 61554
      View Details
    • $13 SF/Yr
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      Pekin Retail Space Available

      Retail space available for rent in Pekin, Illinois.
      505-539 S Parkway Dr, Pekin, IL 61554
      View Details
    • $12 SF/Yr
      1,400 SF

      Retail Space on Court Street

      Retail space with open floor plan and natural light.
      2125-2133 Court St, Pekin, IL 61554
      View Details
    • $1,250 /Mo
      1,200 SF

      Retail Unit in Pekin

      1,200 SF retail unit available for rent.
      3293-3299 Court St, Pekin, IL 61554
      View Details
    • $6 SF/Yr
      8,400 SF

      Pekin, IL Commercial Land & Building

      8,400 SF Commercial Space, 50 Parking Spots
      3010 Court St, Pekin, IL 61554
      View Details
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    359 Court St
    Pekin, IL 61554
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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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