For Sale
$1,575,000

1001 War Memorial Dr Peoria Heights, IL 61616

1.41 Acres, Prime Development Site

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional 1.41-acre commercial property, located at 1001 E War Memorial Drive in Peoria Heights, Illinois (zip code 61616), presents a remarkable development opportunity. The site boasts a B-2 zoning designation, allowing for a variety of commercial uses. Situated on US Hwy 150, this property benefits from high visibility and significant daily traffic counts exceeding 25,000 vehicles. The land encompasses four parcels and includes two existing structures: a 5,026 square foot retail/office building, potentially divisible into 4-6 units, and an oversized garage. The property's strategic location at two hard corners provides multiple road access points. This location is ideal for a gas station, drive-thru restaurant, or larger retail operation. The property is situated within both a Tax Increment Financing (TIF) district (Peoria Heights TIF 2) and an Enterprise Zone (Peoria Urban Enterprise Zone #8). The asking price for this prime development opportunity is $1,575,000. The property is owned by an LLC.

Highlights

  • Four parcels totaling 1.41 acres, B-2 zoned, ready for development on US Hwy 150.
  • Two hard corners with multiple road accesses and over 25,000 daily traffic counts.
  • Two existing buildings: 5,026 SF retail/office (4-6 units) plus oversized garage.
  • Ideal for gas station, drive-thru, restaurant, or larger retail.
  • $1,575,000

Property Details for 1001 War Memorial Dr

Property type
Lifestyle centers, Power centers
Lot Size (sq. ft)
61,420 SF

Location Insight

City
Peoria Heights
County
Peoria
State
Illinois
Latitude
40.732250312613
Longitude
-89.579091151109
1001 War Memorial Dr, Peoria Heights, Illinois

FAQs

What type of property is this?
Lifestyle center - 1.41 Acres, Prime Development Site
Where is the lifestyle center located?
The property is located at 1001 War Memorial Dr Peoria Heights, IL.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Four parcels totaling 1.41 acres, B-2 zoned, ready for development on US Hwy 150.; Two hard corners with multiple road accesses and over 25,000 daily traffic counts.; Two existing buildings: 5,026 SF retail/office (4-6 units) plus oversized garage.
How can I contact the broker?
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1001 War Memorial Dr
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