For Sale
$99,000

1509 Knoxville Ave Peoria, IL 61603

Historic 3-Story Building, Redevelopment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
133
This 0.33-acre property at 1509 N Knoxville Avenue in Peoria, IL, offers a unique redevelopment opportunity. The 8,750-square-foot, three-story building, constructed in 1894, currently sits vacant and requires renovation. Previously used as multi-family units, this property boasts original architectural details and a substantial amount of extra slate roofing stored in the basement. The property benefits from a high-visibility location near downtown hospitals and national brands such as Starbucks, Dunkin', and Baskin-Robbins. Easy access to Interstate 74 further enhances its appeal. While a fire in 2019 impacted a first-floor unit, the property was saved from demolition. The seller is providing an ALTA survey and structural reports to facilitate a smooth transition. The property is sold as-is, with no utilities currently connected. The East Village Tax Increment Financing (TIF) District offers an incentive for potential buyers. The property is zoned CG: General Commercial District and includes eight units. The APN is 18-04-178-039. The asking price is $99,000.

Highlights

  • $99,000 asking price for a vacant, 8-unit commercial property.
  • 8,750 square feet on a 0.33-acre lot in Peoria, IL.
  • Three-story, 1894-built building with eight units.
  • Located in Peoria's CG: General Commercial District, near downtown hospitals and major retailers.
  • Property sold as-is, with no utilities connected; buyer to assume responsibility for repairs.
  • Includes an ALTA survey and structural reports.

Property Details for 1509 Knoxville Ave

Property type
Office properties, Land
Square Feet
8,750 SF
Year Built
1894
Buildings
1
Stories
3
Lot Size (sq. ft)
14,375 SF
Units
8

Location Insight

City
Peoria
County
Peoria
State
Illinois
Latitude
40.705623686462
Longitude
-89.59412543661

FAQs

What type of property is this?
Office property - Historic 3-Story Building, Redevelopment Opportunity
Where is the office property located?
The property is located at 1509 Knoxville Ave Peoria, IL.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: $99,000 asking price for a vacant, 8-unit commercial property.; 8,750 square feet on a 0.33-acre lot in Peoria, IL.; Three-story, 1894-built building with eight units.
How can I contact the broker?
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1509 Knoxville Ave
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