3624 University StPeoria, IL 61604

For Sale
$1,590,000

High-traffic, 1.58-acre development site.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 1.581-acre commercial land parcel, located at the highly visible corner of War Memorial Drive and University Street in Peoria, Illinois (zip code 61604), presents a unique opportunity for developers and commercial operators. Situated in a thriving commercial zone, this property boasts unparalleled visibility and accessibility, surrounded by established national brands such as McDonald's and Walgreens, ensuring high daily traffic flow. The site is zoned for commercial use and is ready for immediate development, featuring existing access points from University Street, with potential for additional access from War Memorial Drive. All utilities are conveniently located on-site. This prime location offers significant advantages, including its position within a Tax Increment Financing (TIF) district, allowing for potential collaboration with the city on development incentives. The property's versatile zoning makes it suitable for a variety of commercial projects, from small strip centers to multi-tenant shopping complexes. The asking price for this exceptional opportunity is $1,590,000. Don't miss this chance to secure a premier commercial location in Peoria's bustling market.

Highlights

  • 1.58-acre corner lot at high-traffic intersection of War Memorial Drive and University Street in Peoria, IL (61604), near national brands.
  • Pad-ready site with on-site utilities and existing access road.
  • Located in a Tax Increment Financing (TIF) district, eligible for development incentives.
  • Zoned for versatile commercial development, suitable for various projects including strip centers and multi-tenant complexes.

Property Details for 3624 University St

Property type
Other land, Other industrial properties
Lot Size (sq. ft)
68,868 SF

Location Insight

City
Peoria
County
Peoria
State
Illinois
Latitude
40.732471420602
Longitude
-89.612202829042
3624 University St, Peoria, Illinois

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3624 University St
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