2615 14Th StPekin, IL 61554

Property Details for 2615 14Th St

Year built

1990

Lot size

0.76 AC

Property size (Sq ft)

2,449 SF

Property type

Retail space

APN

10-10-11-400-044

APU

101011400044

Description

This well-maintained Pekin, Illinois commercial property at 2615 S 14TH Street, zip code 61554, presents a unique investment opportunity. Priced at $350,000, this single-tenant property offers exceptional flexibility. The property is zoned for both office and retail uses, making it suitable for a variety of businesses. Its location in the south residential Tax Increment Financing (TIF) district provides potential advantages. The surrounding area features a diverse mix of medical facilities, multi-family dwellings, and new construction, indicating a dynamic and growing neighborhood. The property boasts excellent visibility from 14th Street, ensuring high traffic exposure for any business. The property type includes land, office, and retail space, catering to a wide range of potential uses, including commercial, executive office, medical office, restaurant, government, and other suitable ventures. This versatile property is situated in Tazewell County and offers a compelling opportunity for entrepreneurs and investors alike. The property's location at latitude 40.5395782 and longitude -89.6318122 provides easy access to local amenities and transportation routes. The property's adaptability and prime location make it an attractive investment prospect in the Pekin market.

• CAP approach

  CAP return

  Valuation

  6%

  $963,157

  6.5%

  $889,068

  7%

  $825,563

• Comparable approach

  Method

  Valuation

  Relative Method

  $481,129

  Geo Method

  $481,129

• Alternative Use

  Use

  Valuation

  Residential

  $749,962

  Hospitality

  $686,962

  Educational

  $571,544

  Medical

  $591,200

  Retail

  $889,068

Location Insight

City

Pekin

County

Tazewell

State

Illinois

Latitude

40.5393

Longitude

-89.6319

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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