University Office Plaza

REVISED

University Office Plaza

100% Occupied with Long-Term Tenants

Ideally Located Near Many Businesses, Restaurants, Shopping and Car Dealers
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

Additional Land for Expansion

7625 North University Street, Peoria, IL 61614

Request Offering Memorandum

Market Summary

Price                                 $2,050,000

Cap Rate                          9.74%

NOI                                   $199,711

Rentable SF                     18,100 SF

Price per SF                     $113.26

Year Built / Renovated    1975 / 2019

Lot Size                            4.92 Acres

Description

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.

Contact Us


The Saia | Andrew Group of Marcus & Millichap

Tammy Saia Info
(630) 570-2226
tsaia@marcusmillichap.com

Tami Andrew Info

(630) 570-2179

tandrew@marcusmillichap.com

© 2020 by Marcus & Millichap Saia | Andrew Group.