3409 Mdw Ave East Peoria, IL 61611-4691

Property Details for 3409 Mdw Ave

Year built

1950

Lot size

0.70 lot acres

Property size

6,000 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

05-05-12-204-008

APU

50512204008

Description

This exceptional East Peoria, IL property at 3409 Meadow Avenue presents a unique investment opportunity. Built in 1950, this multi-use building boasts a blend of commercial and residential spaces, offering significant income potential. Currently, the main floor comprises three separate commercial units, while the second floor houses four recently renovated apartments (2022/2023). The property generates a gross annual income of $48,500. Recent improvements include a new roof (2024), a boiler pump replacement (2019), and two new water heaters (2017). An expanded rear parking lot enhances convenience. The building also features a garage with a 10-foot door, ideal for various uses. The main floor offers the potential to be converted into one large commercial space, maximizing rental income. Located in Tazewell County, IL, zip code 61611, this property is conveniently situated minutes from Morton, providing easy access to major transportation routes. This is a prime opportunity for investors seeking a strong return on investment with significant upside potential. The asking price is $349,900. This property is classified as Land, Office, and Industrial.

Location Insight

City

East Peoria

County

Tazewell

State

Illinois

Longitude

-89.4998

Latitude

40.638

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments