Property summary
This exceptional 1,032 square foot commercial building at 514 Pekin Street in Lincoln, Illinois presents a unique investment opportunity. Ideally situated just steps from the Amtrak station and the historic downtown square, this all-brick structure offers unparalleled convenience and visibility. Currently occupied by a men's clothing store, the property's R-2 zoning allows for a wide range of commercial uses, making it suitable for various small professional businesses. Alternatively, its charming features and layout offer significant potential for conversion into a single-family residence. The building boasts several desirable features including a partial basement, convenient rear ramp access, ample parking both on the street and in the rear, and recently updated amenities. These updates encompass vinyl replacement windows, modern flooring, updated fixtures and plumbing, a new furnace, a central air conditioning unit, and fresh paint throughout, ensuring a move-in ready condition. The property's excellent condition and prime location combine to create a compelling investment prospect with strong potential for future growth and profitability. This is a rare opportunity to acquire a well-maintained, versatile property in a thriving downtown area. Don't miss out on this exceptional offering.
Property profile
VerifiedCap rate & NOI
Current use
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Clothing & Fashion Store
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Dental Office
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Dental Office
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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