116 Spring Bay RdEast Peoria, IL 61611

For Sale
$888,624

2.55 Acres, Redevelopment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 2.55-acre commercial land parcel, located in East Peoria, Illinois, presents a unique redevelopment opportunity. The property, encompassing five commercial lots, each currently featuring a rental home, is zoned C-2, allowing for a wide range of commercial uses. Its strategic location at 116, 120, 124 Spring Creek Rd & 1000, 1004 Spring Bay Rd offers excellent visibility from Illinois Route 116, ensuring high traffic counts and significant exposure for any new development. The site boasts existing infrastructure, including well and septic systems, simplifying the development process. Given its location in a commercial growth area, this property represents a compelling investment opportunity for developers seeking to capitalize on the area's expanding market. The asking price is $888,624. The property's current configuration, with five lots and existing rental homes, provides potential for immediate income generation while redevelopment plans are underway. This versatile property is ideally suited for a variety of commercial ventures, including, but not limited to, a gas station or retail pad development. Its size and zoning make it an attractive prospect for businesses seeking a prominent location with high visibility and accessibility. Don't miss this chance to acquire a prime piece of commercial real estate in a thriving Illinois market.

Highlights

  • Well and septic system on-site.
  • High traffic volume.
  • Excellent visibility from IL Route 116.
  • Situated in a rapidly developing commercial area.

Property Details for 116 Spring Bay Rd

Property type
Other land, Land
Lot Size (sq. ft)
111,078 SF

Location Insight

City
East Peoria
County
Tazewell
State
Illinois
Latitude
40.7327222
Longitude
-89.5198647
116 Spring Bay Rd, East Peoria, Illinois

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
116 Spring Bay Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message