2700-2714 Willow Lake Dr, Peoria, IL 61614
48 Unit Apartment Building | $4,400,000 ($91,667/Unit) | 7.46% Cap Rate | Peoria, IL 61614
For Sale
Active
12 pictures
- Date Added:
- September 16, 2024
- Days on Market:
- 10 days
Asking Price $4,400,000
- Property Type
-
Multifamily
- Square Feet
- 30,600 SF
Listing Contacts
Yianni Mouflouzelis
Verified Profile
Patrick Suffield
Verified Profile
David Tarnoff
Verified Profile
- Property Info
Property Overview
Marcus & Millichap is pleased to offer the Oakridge Apartments, a 48-unit property situated in the northern district of Peoria, Illinois. Nestled on 4.36 acres of land, this well-maintained complex offers a favorable unit mix of six one bedroom, eighteen two-bedroom two-bath, and twenty-four three-bedroom two-bath apartments. Unit features include high ceilings, walk-in closets, generous living room, dining area, and ample storage spaces. The kitchens include a full island equipped with an electric range and premium appliances, elegant light fixtures, and select units offering washer/dryer hookups. Additional amenities such as on-site laundry facilities, assigned enclosed garage spaces, and deck balconies or patios enhance the appeal of these apartments.
Oakridge, located minutes from Allen Road and major highways like Interstate 74 and Illinois Route 6, offers seamless access to Northwoods Mall, The Shoppes at Grand Prairie, the natural beauty of Wildlife Prairie Park, and the vibrant downtown Peoria scene. Proximity to Bradley University, major Caterpillar sites, and key hospitals like OSF, Methodist, and Proctor underscores the convenience. Additionally, residing within the esteemed Dunlap Community School District 373 ensures access to top-tier education, with exclusive private and public schools in Peoria and Dunlap also within reach, making Oakridge an ideal blend of comfort, convenience, and community.
Peoria, located in central Illinois, boasts a population of 402,391 (MSA), diverse economy, cultural vibrancy, robust rental market, and esteemed educational institutions such as Bradley University. Strategically located with a major Port on the Illinois river and equidistant to Chicago and St. Louis, Peoria is home to many industries, most notably traditional manufacturing, and agricultural trade. Formerly based in Peoria, Caterpillar, a leading heavy equipment manufacturer, continues to maintain a significant presence in this market, employing 12,000 people. The company holds a prominent position as one of the 30 constituents of the Dow Jones Industrial Average and is listed among the Fortune 100 companies.
Oakridge, located minutes from Allen Road and major highways like Interstate 74 and Illinois Route 6, offers seamless access to Northwoods Mall, The Shoppes at Grand Prairie, the natural beauty of Wildlife Prairie Park, and the vibrant downtown Peoria scene. Proximity to Bradley University, major Caterpillar sites, and key hospitals like OSF, Methodist, and Proctor underscores the convenience. Additionally, residing within the esteemed Dunlap Community School District 373 ensures access to top-tier education, with exclusive private and public schools in Peoria and Dunlap also within reach, making Oakridge an ideal blend of comfort, convenience, and community.
Peoria, located in central Illinois, boasts a population of 402,391 (MSA), diverse economy, cultural vibrancy, robust rental market, and esteemed educational institutions such as Bradley University. Strategically located with a major Port on the Illinois river and equidistant to Chicago and St. Louis, Peoria is home to many industries, most notably traditional manufacturing, and agricultural trade. Formerly based in Peoria, Caterpillar, a leading heavy equipment manufacturer, continues to maintain a significant presence in this market, employing 12,000 people. The company holds a prominent position as one of the 30 constituents of the Dow Jones Industrial Average and is listed among the Fortune 100 companies.
Property Details
- Class
- C
- Year Built
- 1990
- Stories
- 3
- Lot Size (sq. ft)
- 189,922 SF
- Units
- 48
Highlights
- 48 Spacious Condo Quality Units
- 1990 & 2013 Construction
- Washer/Dryer Hookups Available in 2 Bedroom and 3 Bedroom units
- Enclosed Garage Spaces
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].