1506 Knoxville Ave Peoria, IL 61603

Property Details for 1506 Knoxville Ave

Property type

Commercial real estate

APN

18-04-251-007

APU

1804251007

Description

This exceptional 1.75-acre commercial land parcel presents a unique development opportunity in Peoria, Illinois. Strategically located at the intersection of Knoxville Avenue (Route 40) and Pennsylvania Avenue, this property enjoys unparalleled visibility and accessibility. Its prime position directly across from the OSF hospital campus and the I-74 Knoxville Exit ensures high traffic volume and significant exposure to a large potential customer base. The site is already cleared and ready for immediate development, eliminating costly pre-construction preparation. This offering encompasses eight contiguous parcels, totaling 1.75 acres, all zoned CG General Commercial. The property's location within the East Village Growth Cell – TIF (2034) provides developers with access to substantial financial incentives, detailed in the associated documents. These incentives represent a significant advantage for prospective developers seeking to maximize their return on investment. The individual parcel numbers are: 18-04-251-001, 18-04-251-002, 18-04-251-003, 18-04-251-004, 18-04-251-005, 18-04-251-006, 18-04-251-007, and 18-04-251-008. This is a rare opportunity to acquire a large, well-situated commercial property in a thriving area with significant growth potential. The asking price is $1,920,000.

Location Insight

City

Peoria

County

Peoria

State

Illinois

Longitude

-89.5936

Latitude

40.7055

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments