For Sale
$925,000

2020 War Memorial DrPeoria, IL 61614

Vacant Senior Living Building, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional redevelopment opportunity presents a 26,216 square foot, three-story brick building situated on a 1.25-acre lot in Peoria, Illinois. Currently vacant, the property boasts a permitted C2 zoning designation, allowing for its conversion into senior housing – a project already approved. Built in 1970, the building offers ample parking with 55 spaces, a significant advantage in this market. The property's strategic location provides easy access to I-74, Northwoods Mall, Westlake Shopping Center, numerous hotels, and various restaurants, ensuring high visibility and convenient access for residents. A fully furnished one-bedroom apartment is included on the third floor. Adding to the potential, the seller has a relationship with the owner of an adjacent 1.2-acre parcel, potentially opening up expansion opportunities. The asking price for this prime Peoria property is $925,000. This presents a unique chance to capitalize on the growing demand for senior housing in a highly desirable location. The property's existing infrastructure and approved conversion plans significantly reduce the time and cost associated with typical redevelopment projects. This is a truly exceptional investment opportunity. The APN is 14-30-201-004.

Highlights

  • Approved for senior housing conversion.
  • Ample on-site parking available.
  • Excellent location.

Property Details for 2020 War Memorial Dr

Property type
Retirement homes, Assisted living facilities
Year Built
1970
Buildings
1
Stories
3
Lot Size (sq. ft)
54,450 SF

Location Insight

City
Peoria
County
Peoria
State
Illinois
Latitude
40.7389834
Longitude
-89.6260684
2020 War Memorial Dr, Peoria, Illinois

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2020 War Memorial Dr
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