523 Adams St Peoria, IL 61603

Property Details for 523 Adams St

Property type

Commercial real estate

APN

18-03-355-001

APU

1803355001

Description

This exceptional 0.65-acre property, located at 523 NE Adams St, Peoria, IL 61603, presents a unique redevelopment opportunity. The property features the historic Peoria Armory building, constructed in 1924 by the Illinois Military and Naval Department. The three-story brick and limestone structure boasts approximately 21,373 to 40,480 square feet of space, with each floor encompassing nearly 5,300 square feet. The building includes impressive entrances, flanking double staircases, and office spaces. The property is zoned R-8 and situated within the East Village TIF District (District #980), offering potential tax incentives. While the building shows its age and is being sold AS-IS with no utilities currently connected, its rich history and prominent location in Peoria offer immense potential for adaptive reuse. The Armory has served as a civic center hosting various events, including conventions, political rallies, circuses, boxing matches, and Bradley University basketball games. This is a rare chance to acquire a piece of Peoria's history and transform it into a thriving commercial venture. The property is owned by Armory Holding LLC.

Location Insight

City

Peoria

County

Peoria

State

Illinois

Longitude

-89.5842

Latitude

40.6957

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments