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Property profile

603 Western Ave Peoria, IL 61604

OFF-MARKET
Commercial real estate
Property ID
US28-1297622
Entity Owned 1-yr Hold Free & Clear

Property summary

AI-generated overview

This exceptional retail opportunity presents a 2,387-square-foot freestanding building situated on a 0.47-acre lot at the highly visible corner of Western and Barker Avenues in West Peoria, Illinois. The property is currently vacant and offers a single-tenant occupancy. Its strategic location provides unparalleled access to a dense population base, boasting proximity to downtown Peoria, Bradley University, and major interstate highways, ensuring high visibility and substantial foot traffic. The building's 2,387 square feet offer ample space for a variety of retail uses, making it an ideal investment for entrepreneurs seeking a prime location with significant growth potential. The property's address is 603 N Western Ave, Peoria, IL 61604. The convenient location, combined with the property's size and visibility, presents a rare opportunity to establish a thriving business in a bustling area. This is a single-tenant property, offering a unique chance to secure a prominent retail space in a high-demand location. The property's size and location make it an attractive investment for those seeking a strong return on investment in a thriving Illinois market.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
APN 18-07-231-010
UPID US28-1297622

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$695k

Owner & transaction history

since 2025
Last sale
$575,000
7 recorded transactions
2026
Price N/A
2025
$575,000
2017
$678,500
2011
Price N/A
2008
Price N/A
2001
$350,000
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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