Proximity to Downtown | Educated Workforce | 2000 E Washington St
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Proximity to Downtown | Educated Workforce 2000 E Washington St
41,942 SF Vacant Office Building Online Auction Sale East Peoria, IL 61611
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Investment Highlights
- Ideally established 41,942-SF office/mixed-use building desirably sited on an expansive 4.1-acre lot in East Peoria, less than 4 miles from downtown.
- Noteworthy owner/user or value-add investment opportunity to acquire a vacant asset with desirable flexibility to accommodate many business uses.
- Conveniences such as Walmart Supercenter, Costco, Harbor Freight Tools, McDonald’s, Kroger, Starbucks, and Taco Bell are within a 5-mile radius.
- Excellently located just off the signalized intersection of Illinois Route 8 and preferably situated 1.5 miles from major thoroughfare Interstate 74.
- Surrounded by a highly skilled workforce, as 37.5% of Peoria city residents obtain a bachelor’s degree or higher, surpassing the national average.
Executive Summary
2000 E Washington Street presents a well-positioned 41,942-square-foot office/mixed-use building exceptionally situated on a spacious 4.1-acre lot in East Peoria, Illinois. This two-story, masonry-constructed property was built in 1960 and benefits from its ample on-site surface parking spaces and rail access. The building is built-out with private offices, a spacious open floorplan primed for collaboration, a welcoming lobby with a glass façade boasting ample natural lighting, a kitchenette with plenty of built-in storage, and a drive-in bay with loading and unloading capabilities. The ADA-compliant property has easy ramp access at the main entrance, and tenants and visitors can appreciate the quick accessibility via two curb cuts off the signalized intersection of E Washington Street/Illinois Route 8.
Peoria is a vibrant city located in the heart of Illinois, along the captivating Illinois River. The dynamic city is renowned for its industrial heritage, cultural offerings, and economic opportunities. It is home to a highly educated and skilled workforce, as 37.5% of Peoria city residents obtain a bachelor’s degree or higher, impressively surpassing the national average of 34.3%. 2000 E Washington Street benefits from its location three minutes from Interstate 74 and is situated just six minutes from downtown.
The property is ideally surrounded within a 10-mile radius of about 242,000 residents who have an incredible spending power of nearly $3 billion annually. Accessibly, within a 5-mile radius are a multitude of conveniences, including household-named retailers and renowned fast-food chains. These amenities include Harbor Freight Tools, Walmart Supercenter, Costco, McDonald’s, Aldi, Kroger, Dollar General, Starbucks, Taco Bell, Bass Pro Shops, Tractor Supply, and many more.
This vacant asset offers an excited owner/user or savvy investor the opportunity to add value through its tremendous features, which provide sought-after flexibility to accommodate a wide range of businesses.
Property tours are available by appointment only. Please contact the broker to schedule.
Peoria is a vibrant city located in the heart of Illinois, along the captivating Illinois River. The dynamic city is renowned for its industrial heritage, cultural offerings, and economic opportunities. It is home to a highly educated and skilled workforce, as 37.5% of Peoria city residents obtain a bachelor’s degree or higher, impressively surpassing the national average of 34.3%. 2000 E Washington Street benefits from its location three minutes from Interstate 74 and is situated just six minutes from downtown.
The property is ideally surrounded within a 10-mile radius of about 242,000 residents who have an incredible spending power of nearly $3 billion annually. Accessibly, within a 5-mile radius are a multitude of conveniences, including household-named retailers and renowned fast-food chains. These amenities include Harbor Freight Tools, Walmart Supercenter, Costco, McDonald’s, Aldi, Kroger, Dollar General, Starbucks, Taco Bell, Bass Pro Shops, Tractor Supply, and many more.
This vacant asset offers an excited owner/user or savvy investor the opportunity to add value through its tremendous features, which provide sought-after flexibility to accommodate a wide range of businesses.
Property tours are available by appointment only. Please contact the broker to schedule.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Peoria - IL USA
Market Cap Rate
Peoria - IL USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Office
Building Size
41,942 SF
Building Class
C
Year Built
1960
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
20,971 SF
Building FAR
0.23
Land Acres
4.10 AC
Parking
226 Spaces (5.39 Spaces per 1,000 SF Leased)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
3,667
26,421
97,231
2020 Population
3,735
25,314
93,459
2029 Population
3,609
26,275
96,363
2024-2029 Projected Population Growth
-1.6%
-0.6%
-0.9%
Daytime Employees
2,977
28,964
73,297
Total Businesses
203
2,185
5,832
Average Household Income
$90,408
$72,875
$65,209
Median Household Income
$71,335
$50,640
$46,949
Total Consumer Spending
$50.7M
$312.3M
$1B
Median Age
44.6
41.4
37.7
2024 Households
1,594
11,419
40,145
Percent College Degree or Above
19%
16%
13%
Average Home Value
$166,930
$159,118
$146,952
$ values in USD
PROPERTY TAXES
| Parcel Number | 01-01-34-205-001 | Improvements Assessment | $754,144 CAD |
| Land Assessment | $112,886 CAD | Total Assessment | $867,030 CAD |
PROPERTY TAXES
Parcel Number
01-01-34-205-001
Land Assessment
$112,886 CAD
Improvements Assessment
$754,144 CAD
Total Assessment
$867,030 CAD
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Sophy Cardenas
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
-
Justin Ferrill -
Coldwell Banker Commercial The Real Estate Group
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VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Proximity to Downtown | Educated Workforce | 2000 E Washington St
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