Westlake Shopping Center 2601 W Lake Ave 5,540 - 30,328 SF of Retail Space Available in Peoria, IL 61615

HIGHLIGHTS

  • The only national award winning shopping center in Central Illinois.
  • The traffic counts create the highest average interaction vehicle activity per day of any other retail location.
  • Located at the 100 percent retail corner containing the largest shopping centers in the market.
  • Interstate 74 and Sterling Avenue Interchange: the only interstate highway in the market.

SPACE AVAILABILITY (4)

Display Rental Rate as

  • SPACE
  • SIZE
  • TERM
  • RENTAL RATE
  • RENT TYPE
  • 1st Floor, Ste A3,A4,A5
  • 5,635 SF
  • Negotiable
  • Upon Request
  • Triple Net (NNN)
2601 W Lake Ave - 1st Floor - Ste A3,A4,A5
Space Use
Retail
Condition
Full Build-Out
Availability
Now

A retail landmark overlooking the only interstate highway in a metropolitan market of 401,767 people

  • Lease rate does not include utilities, property expenses or building services
  • Fully Built-Out as Specialty Space
  • Located in-line with other retail
  • Space is in Excellent Condition
  • Central Air and Heating
  • Kitchen
  • Private Restrooms
  • Wi-Fi Connectivity
  • Fully Carpeted
  • After Hours HVAC Available
  • Former medical sapce
  • 1st Floor, Ste B-1c
  • 5,540 SF
  • Negotiable
  • $18.25 /SF/YR
  • Triple Net (NNN)
2601 W Lake Ave - 1st Floor - Ste B-1c
Space Use
Retail
Condition
Full Build-Out
Availability
90 Days

A retail landmark overlooking the only interstate highway in a metropolitan market of 401,767 people

  • Lease rate does not include utilities, property expenses or building services
  • Fully Built-Out as Standard Retail Space
  • Located in-line with other retail
  • Space is in Excellent Condition
  • Central Air and Heating
  • Private Restrooms
  • Fully Carpeted
  • High Ceilings
  • Exposed Ceiling
  • Emergency Lighting
  • One of Central Illinois major shopping destination
  • 1st Floor, Ste B-7b
  • 12,503 SF
  • Negotiable
  • $17.25 /SF/YR
  • Triple Net (NNN)
2601 W Lake Ave - 1st Floor - Ste B-7b
Space Use
Retail
Condition
Shell Space
Availability
Pending

A retail landmark overlooking the only interstate highway in a metropolitan market of 401,767 people

  • Lease rate does not include utilities, property expenses or building services
  • Located in-line with other retail
  • Space is in Excellent Condition
  • Central Air and Heating
  • High Ceilings
  • 1st Floor, Ste B1-a
  • 6,650 SF
  • Negotiable
  • Upon Request
  • Triple Net (NNN)
2601 W Lake Ave - 1st Floor - Ste B1-a
Space Use
Retail
Condition
Full Build-Out
Availability
120 Days
  • Lease rate does not include utilities, property expenses or building services
  • Fully Built-Out as Specialty Space
  • Highly Desirable End Cap Space
  • Space is in Excellent Condition
  • Central Air and Heating
  • Wi-Fi Connectivity
  • Print/Copy Room
  • Corner Space
  • High Ceilings
  • Exposed Ceiling
  • Emergency Lighting
Space Size Term Rental Rate Rent Type
1st Floor, Ste A3,A4,A5 5,635 SF Negotiable Upon Request Triple Net (NNN)
1st Floor, Ste B-1c 5,540 SF Negotiable $18.25 /SF/YR Triple Net (NNN)
1st Floor, Ste B-7b 12,503 SF Negotiable $17.25 /SF/YR Triple Net (NNN)
1st Floor, Ste B1-a 6,650 SF Negotiable Upon Request Triple Net (NNN)

2601 W Lake Ave - 1st Floor - Ste A3,A4,A5

Size
5,635 SF
Term
Negotiable
Rental Rate
Upon Request
Rent Type
Triple Net (NNN)
Space Use
Retail
Condition
Full Build-Out
Availability
Now

A retail landmark overlooking the only interstate highway in a metropolitan market of 401,767 people

  • Lease rate does not include utilities, property expenses or building services
  • Fully Built-Out as Specialty Space
  • Located in-line with other retail
  • Space is in Excellent Condition
  • Central Air and Heating
  • Kitchen
  • Private Restrooms
  • Wi-Fi Connectivity
  • Fully Carpeted
  • After Hours HVAC Available
  • Former medical sapce

2601 W Lake Ave - 1st Floor - Ste B-1c

Size
5,540 SF
Term
Negotiable
Rental Rate
$18.25 /SF/YR
Rent Type
Triple Net (NNN)
Space Use
Retail
Condition
Full Build-Out
Availability
90 Days

A retail landmark overlooking the only interstate highway in a metropolitan market of 401,767 people

  • Lease rate does not include utilities, property expenses or building services
  • Fully Built-Out as Standard Retail Space
  • Located in-line with other retail
  • Space is in Excellent Condition
  • Central Air and Heating
  • Private Restrooms
  • Fully Carpeted
  • High Ceilings
  • Exposed Ceiling
  • Emergency Lighting
  • One of Central Illinois major shopping destination

2601 W Lake Ave - 1st Floor - Ste B-7b

Size
12,503 SF
Term
Negotiable
Rental Rate
$17.25 /SF/YR
Rent Type
Triple Net (NNN)
Space Use
Retail
Condition
Shell Space
Availability
Pending

A retail landmark overlooking the only interstate highway in a metropolitan market of 401,767 people

  • Lease rate does not include utilities, property expenses or building services
  • Located in-line with other retail
  • Space is in Excellent Condition
  • Central Air and Heating
  • High Ceilings

2601 W Lake Ave - 1st Floor - Ste B1-a

Size
6,650 SF
Term
Negotiable
Rental Rate
Upon Request
Rent Type
Triple Net (NNN)
Space Use
Retail
Condition
Full Build-Out
Availability
120 Days

  • Lease rate does not include utilities, property expenses or building services
  • Fully Built-Out as Specialty Space
  • Highly Desirable End Cap Space
  • Space is in Excellent Condition
  • Central Air and Heating
  • Wi-Fi Connectivity
  • Print/Copy Room
  • Corner Space
  • High Ceilings
  • Exposed Ceiling
  • Emergency Lighting

SITE PLAN

SELECT TENANTS AT WESTLAKE SHOPPING CENTER

  • TENANT
  • DESCRIPTION
  • US LOCATIONS
  • REACH
  • Binny's
  • Retailer
  • -
  • -
  • Burlington Coat Factory
  • Dept Store
  • 1,453
  • National
  • Michaels
  • Art/Crafts
  • 1,495
  • International
  • Panera Bread
  • Retailer
  • -
  • -
  • Ross Dress for Less
  • Retailer
  • -
  • -
  • ULTA
  • Furniture/Mattress
  • 25
  • Regional
TENANT DESCRIPTION US LOCATIONS REACH
Binny's Retailer - -
Burlington Coat Factory Dept Store 1,453 National
Michaels Art/Crafts 1,495 International
Panera Bread Retailer - -
Ross Dress for Less Retailer - -
ULTA Furniture/Mattress 25 Regional

PROPERTY FACTS

Total Space Available 30,328 SF
Center Type Community Center
Parking 925 Spaces
Stores 18
Center Properties 3
Frontage
1,200’ on Rockwood Road
  • 2,000’ on West Lake Street
  • 4,000’ on Sterling Avenue
  • 10,000’ on Interstate 74
Gross Leasable Area 244,096 SF
Total Land Area 35.81 AC
Year Built 1973

ABOUT THE PROPERTY

Irreplaceable location: two time national award-winning power center overlooking Interstate 74 and Sterling Avenue Interchange and the three most heavily traveled arterials in the metropolitan market exceeding 400,000 people. Direct access to interstate off-ramp to Sterling Avenue connects Westlake to Sterling Avenue and Washington Prime's Northwoods Mall, located directly across the street, with whom Westlake shares its main entrance driveways, and which connect to the City of Peoria's three most heavily traveled arterial roads: War Memorial, Sterling, and Glen Avenues. When combined with I-74 Sterling Avenue Interchange, at Westlake's front door are the highest consolidated traffic counts of any shopping center in the entire Peoria metropolitan market. Not surprisingly, the highest concentration of retail stores, restaurants, and hospitality - including the Westlake Marriott - within the market exist within 1 mile of Westlake. Located at the 100 percent retail corner containing the largest shopping centers in the market, since 1973 Westlake has been part of the retail epicenter of regional market exceeding 500,000, and an MSA of 379,940 (Scan/US 2014). A proven location for over 47 years - powered from 1970s through years of double-digit interest rates and hyperinflation of the 80s, the boom years of 90s, the Great Recession, and rising sales per square foot through retail's e-commerce evolution of the 2000s. National award winning redevelopment and expansion in 2004- 2014 turned Peoria's most proven and respected 1970s "across the street from The Mall" shopping center into one of the most beautiful and respected shopping centers in all of Illinois, winning multiple national (ICSC, NAH, ICPI) and local beautification words, refreshed best-of-breed co-tenancy, and the largest interlocking concrete paver parking in the United States. Current national and regional brands best-of-breed Westlake cotenancy includes Ross, Binny's, Guitar Center, Five Guys, UPS, Panera Bread (corporate), Biaggis, ULTA, US Cellular, Humana, Michael's, and more. Shadow anchored by Portillo's. A regional medical hub, Peoria's largest employer is healthcare (as a percentage of total workforce, Peoria employs more healthcare workers than Rochester Minnesota, home to the world-famous Mayo Clinic: 25.5% compared to 23.4% for Rochester MN). The oldest European settlement in Illinois, Peoria headquarters RLI and Maui Jim, and a significant presence with Caterpillar (employing approximate 12,000). Education is the third largest employer, and includes, within the Tri-County region, Bradley University, the University of Illinois School of Medicine at Peoria, Eureka College, Knox College, Illinois Central College, and the OSF Medical and Methodist Medical Schools of Nursing.

  • 24 Hour Access
  • Corner Lot
  • Freeway Visibility
  • Restaurant
  • Security System
  • Signage
  • Signalized Intersection
  • Tenant Controlled HVAC
  • Enclosed Mall
  • Monument Signage

DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
7,983
64,923
119,715
147,755
2029 Population
7,773
63,207
117,405
145,276
2024-2029 Projected Population Growth
-2.6%
-2.6%
-1.9%
-1.7%
Median Age
43.7
38.5
37.7
38.3
College Degree + Higher
30%
33%
28%
19%
Daytime Employees
5,582
29,078
99,037
119,396
Total Businesses
538
3,567
9,255
10,717
Average Household Income
$66,837
$72,455
$69,101
$76,117
Median Household Income
$54,891
$53,416
$49,674
$53,539
Total Consumer Spending
$90.6M
$732.3M
$1.3B
$1.6B
2024 Households
3,695
28,481
51,413
62,141
Average Home Value
$132,294
$145,480
$147,092
$167,032

NEARBY MAJOR RETAILERS

Five Guys
Portillo's Hot Dogs
Mission BBQ
Regions Bank
Gloria Jean's
Starbucks
IHOP
Perkins
Curves
Kroger
  • Listing ID: 18623188

  • Date on Market: 3/11/2025

  • Last Updated:

  • Address: 2601 W Lake Ave, Peoria, IL 61615