3624 University St UnitPeoria, IL 61604

Property Details for 3624 University St Unit

Lot size

1.58 AC

Property type

Commercial real estate

Description

This exceptional 1.58-acre commercial lot presents a unique investment opportunity in Peoria, Illinois. Situated at 3624 N University Street, Unit Lot 1, this coveted corner lot is ideally positioned within the rapidly developing War Memorial & University area. The property benefits from a newly constructed access road designed to improve traffic flow and site accessibility. Plans are underway to directly connect this access road to War Memorial Drive, further enhancing its strategic location. Utilities are roughed-in at the outlot boundary, streamlining the development process. This is a prime location for businesses seeking high visibility and convenient access. The creation of a Tax Increment Financing (TIF) district further supports the area's revitalization and offers potential economic incentives. While this 1.58-acre lot (Lot 1) is available for purchase individually, adjacent lots (Lot 2: 1.31 acres and Lot 3: 1.133 acres) are also available for purchase separately or as a combined 2.443-acre parcel, providing flexibility for larger-scale development projects. This is an unparalleled chance to be part of a significant urban renewal project in a high-demand location. The asking price for this exceptional property is $1,590,000. Don't miss this chance to secure a piece of Peoria's exciting future.

Location Insight

City

Peoria

County

Peoria

State

Illinois

Latitude

40.7321

Longitude

-89.6113

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