701 Main St Peoria, IL 61602
- Commercial real estate
- 0.28 lot acres
Current Use by Public Records
- Jackson Donald R / Attorney
- Marquette Apartments / Apartment Building
- Gelia Marcom & Martech / Marketing Agency
- Pristine Custom Wood Furniture / Furniture Maker
- Pinnacle Security Services LLC / Security Guard Service / Security Service
Property Details for 701 Main St
- Lot size
- 0.28 lot acres
- Property type
- Commercial real estate
- APN
- 18-09-201-001
- APU
- 1809201001
Description
701 Main Street offers unique creative office spaces in a beautifully preserved historic building. This Peoria County property, originally designed in 1924 by Hewitt & Emerson Architects (also responsible for the 416 Main St. Building and the Pere Marquette Hotel), boasts multiple tenancy options ranging from 714 square feet to 2,570 square feet. Four individual spaces are currently available, providing flexibility for businesses of various sizes. The building's character is enhanced by its convenient location in downtown Peoria, offering easy access to local amenities and businesses. Ample parking is available in the rear lot, supplemented by on-street metered parking. This is a rare opportunity to secure office space in a landmark building with a rich history and practical modern conveniences. The building's architectural details and prime location combine to create a prestigious and inspiring work environment. The available spaces are ideal for businesses seeking a unique and character-filled office setting in the heart of Peoria. Contact the property owner for more information and to schedule a viewing. This is a multiple-tenancy building, with several spaces available for lease. The building's history and architectural significance make it a desirable location for businesses seeking a distinctive address.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $380,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $285,000
- 6.5%
- $255,000
- 7%
- $250,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $270,000
- Geo Method
- $230,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $250,000
- Retail
- $255,000
- Mixed-Use
- $300,000
- Hospitality
- $245,000
- Educational
- $250,000
- Residential Income
- $230,000
- Energy
- $240,000
- Income-Based Land
- $230,000
- Food Service
- $290,000
Location Insight
- Map
- Local Demand
- City
- Peoria
- County
- Peoria
- State
- Illinois
- Longitude
- -89.5942
- Latitude
- 40.6957
- CBSA code
- 37900
- CBSA name
- PEORIA, IL METROPOLITAN STATISTICAL AREA