University Office Plaza
100% Occupied with Long-Term Tenants
Ideally Located Near Many Businesses, Restaurants, Shopping and Car Dealers
100 Percent Occupied with Long-Term Tenants | Additional Land for Expansion
Significant Tenant Build-Out and Upgrades in the Last Five Years
Growing Economic Climate with Annual Household Income Rising Over 50 Percent Since 2000 - Currently $70,260
Growing Population | Above Average Household Income; $88,699 within Five-Miles
New HVAC; 2016 | New Copper Flashing / Complete Tuck-Pointing 2019
7625 North University Street, Peoria, IL 61614
Cap Rate 9.00%
Rentable SF 18,100 SF
Price per SF $126.30
Year Built / Renovated 1975 / 2019
Lot Size 4.92 Acres
Marcus & Millichap is pleased to present University Office Plaza, a multi-tenant professional office building located in Peoria, Illinois. The property is currently 100 percent occupied with four professional tenants. All tenants have had significant TI dollars put into their suites. The building is impeccably maintained with all new HVAC in 2016; completely tuck-pointed in 2019; new copper flashing on roof in 2019 and the electrical was separated into five systems.
Peoria is the county seat of Peoria County, Illinois, and the largest city on the Illinois river. As of the 2010 census, the city had a population of 115,007, making it the eighth most populated in Illinois, the second largest city in central Illinois after the state capital, Springfield, and the third largest outside the Chicago metropolitan area. It is the principal city of the Peoria metropolitan statistical area in central Illinois, consisting of the counties of Marshall, Peoria, Stark, Tazewell, and Woodford, which had a population of 373,590 in 2011.
Peoria has a number of large employers with Caterpillar at over 15,000 employees, OSF Saint Francis at over 1,500, Advanced Technologies over 1,500 employees and many others. There are also a number of colleges and universities including Bradley University, Midstate College, Methodist College, OSF St. Francis College of Nursing, University of Illinois College of Medicine at Peoria, to name a few.