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$ 2,500,000
Est. payment /mo
Active
111 N 6th ST Pekin, IL 61554
53,900 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active
Purchase Type For Sale
Square Footage 53,900 sqft
Price per Sqft $46
MLS Listing ID 12569299
Year Built 1977
Annual Tax Amount $21,502
Tax Year 2024
Lot Size 1.390 Acres
Lot Dimensions 390 x 218 x 395 x 202
Property Sub-Type Office/Tech
Property Description
Located in the heart of downtown Pekin, this well-maintained, income producing commercial property offering a strong combination of modern upgrades and stable tenancy. The building currently houses 3 tenants, each occupying recently updated interior spaces that reflect price of occupancy and reduced near-term capital expenditure for a new owner. Major building systems have seen significant recent improvements Two elevators were updated in 2022 providing reliable vertical transportation for tenants and visitors. Electrical infrastructure has been enhanced with newer 2022 3,000 AMP switch gear with newer breakers for the existing feeders, 5 newer transformers installed in 2022. 13 replacement sub panels located throughout the building. supporting efficient and dependable power distribution throughout the property. Several HVAC units have also been updated improving climate control performance and energy efficiency. in addition, the roof features a newer membrane in 2021(TPO layover with a 20 year Mulehide Total System Warranty), helping protect the structure while minimizing maintenance concerns, 17 fire extinguishers, fire alarm is aSimplex 4007ES with alarm monitoring through Johnson Controls Inc, 6" wet sprinkler system was installed in 2022. The property's mechanical and structural updates, combined with its occupied status, make it an appealing opportunity for investors seeking a stabilized asset with key capital improvements already completed. Its central location within Pekin positions tenants close to local businesses, services, and municipal amenities, enhancing long-term leasing appeal. This building offers an ideal blend of reliability, functionality, and future upside potential. MLS information believed accurate, but not guaranteed. The lot size came from drawing on GIS. This property has another parcel number attached to it. 04-04-35-332-008.
Location
State IL
County Tazewell
Area Pekin
Zoning OFFIC
Interior
Cooling Zoned
Fireplace N
Building
Dwelling Type Office/Tech
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Listed by Sherye Przybyla of BHHS Central Illinois, REALTORS