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1209 N North Street, Peoria, IL 61606

$420,000

8,917 sq ft
CLS# 1262383
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This 17 unit building is generating great cashflow and has room for renovating/finishing 2 additional 1 Bed/1 Bath units for increasing rents.

Currently there are 13 units rented or ready to rent (11 1 bed/1bath units, a 2/2 and 1 studio), two of which are combined smaller units into larger to create the 2 Bed/2 Bath units and one that combined a studio and a 1 bed/1 bath unit. Zoning certificate available to demonstrate legal, non-conforming use for 17 units. All utilities are paid by the owners and tenants pay flat cash rates for rent except for one tenant on PHA/Section 8 voucher. The units could be rented as Section 8/PHA. The 2 units that could be renovated and leased are stripped down and plumbed currently. Owner will consider Seller Financing/Contract for Deed with $150,000 down. Unit photos will be available the week of November 21st. Showings only available on vacant units and units needing renovations without an accepted Letter of Intent/Contract. NOI - $48,920 with potential for more through rent increases and renovating the 2 units!

Property Details

City
Peoria
County
Peoria
Type
Commercial Sale
New Construction
No
Zoning
Cn
Square Ft.
8,917
Avail Square Ft.
8,917
Acres
0.23
Year Built
1920

Features

Roofing
  • Composition
  • Sloped
Heating/Cooling
  • Forced Air
  • Natural Gas
Water/Sewer
  • Municipal/City

Financials

2024 Taxes
5409.02
RMLS Alliance IDX

Listing information is provided by RMLS Alliance LLC courtesy of RE/MAX Traders Unlimited, Justin Ball, as of 11/14/2025 14:15pm exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in renting or leasing. Data is deemed reliable but is not guaranteed accurate by the MLS. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.