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2004 N University St

49,773 SF Industrial Building Peoria, IL 61604 $2,900,000 ($58/SF)

Executive Summary

Premier hard to find I-74 location ideal for distribution and easy access. This large industrial facility on 4.9 acres was the Prairie Farms Creamery, shipping and distribution center, and is currently used for cross docking. It is comprised of 10 total parcels (see associated docs for parcel list and zoning), and 6 total buildings with 49,773 Sq. Ft., including two office buildings, a freezer building, and a detached garage/warehouse (3776 Sq. Ft.). The main building (2004 N. University) was the creamery, cross-dock warehouse (12,231 Sq. Ft.), loading docks (4,065 Sq. Ft.) and service garage/fuel center (4428 Sq. Ft. w/5000 gal underground fiberglass tank). It features a freight elevator, fire suppression system, lab spaces, and 15 dock doors. The curb, gutters and drainage have been updated, the 10 in. concrete can support heavy trucking, and 6 access points provide easy access to the entire property and access to I-74 one block away. The property has had all glycol and ammonia removed. Resin silo, blo-mold and creamery tanks to be removed on sale.

Property Facts

Price $2,900,000
Price Per SF $58
Sale Type Investment
Property Type Industrial
Property Subtype
Food Processing
  • Industrial Distribution
  • Industrial Truck Terminal
  • Industrial Warehouse
Building Class B
Lot Size 4.90 AC
Rentable Building Area 49,773 SF
No. Stories 1
Year Built 1950
Tenancy Single
Parking Ratio 2.01/1,000 SF
No. Dock-High Doors/Loading 15
No. Drive In / Grade-Level Doors 4
Opportunity Zone Yes

Amenities

  • Cooler
  • Fenced Lot
  • Freezer (Space)
  • Storage Space

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
14-32-456-005
Land Assessment
$132,190
Improvements Assessment
$180,930
Total Assessment
$313,120

zoning

Zoning Code I-2 (10 Parcels - see other documents for zoning on each individual parcel)
I-2 (10 Parcels - see other documents for zoning on each individual parcel)
  • Listing ID: 28362996

  • Date on Market: 5/1/2023

  • Last Updated:

  • Address: 2004 N University St, Peoria, IL 61604

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