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.

Property Features