311 SW Water St (3rd & 4th floors)

311 SW Water St, Floors 3 & 4, Peoria, IL

$3,500,000

Price

23,408 sqft

Building Size

0.47 acres

Lot Area

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Street
Map
Overview
Building Size
23,408 sqft
Lot Area
0.47 acres
Class
B
Units
23
Year Built
1900
Floors
4
Description

Joseph and Camper is pleased to present the opportunity to purchase the condominium interest in the Lofts at Waterfront Place. The Lofts at Waterfront Place are part of the Waterfront Place Condominiums, a fully renovated four story mixed use loft condominium building on Water Street. The site was constructed in the early 1900s as a manufacturing center and was more recently locally known as the Illinois Antique Center. In 2004 the property was renovated into a four unit condominium building. The offering for sale is for the 3rd and 4th floor only. Floors 3 & 4 are the residential Waterfront Lofts and consist of 23 loft style apartments, many with Illinois River views. Located in the heart of Peoria’s downtown warehouse district, this development offers the best of Riverfront living in a unique urban environment. While the structure is a historic downtown Peoria Riverfront landmark, it has been thoroughly up[1]dated to provide all the modern conveniences residents require today. The Lofts at Waterfront Place are also conveniently located near some of the best restaurants in Peoria and within walking distance of the Riverfront & Riverfront events. Ten[1]ants can enjoy an urban lifestyle while still being able to take advantage of the outdoors with a nearby bicycle/fitness trail. The property offers close proximity to some of the area’s largest employers including OSF Healthcare, Carle Heath Methodist Hospital and Caterpillar among others. Convenient access to I-74 and the Bob Michael Bridge offers direct access to the entire tri-county area as well as the Levee District, the area’s largest retail development consisting of Costco, Target and dozens of other national retailers. The residential lofts offer exposed brick and timber, high ceilings, tenant controlled HVAC, abundant natural light and river views. Free 2 hour surface parking located across the street with available covered parking decks nearby. Property is fully sprinklered and offers an ADA lift in the main lobby. Passenger and Freight elevator access available. Additional amenities include an exercise room, laundry rooms on both floors, bicycle storage room and a rooftop deck. Multiple upgrades have been completed since ownership took over in 2020. Multiple capital projects have also been completed recently including a completely rebuilt passenger elevator in 2023. The property is turnkey and fully stabilized at 100% occupancy.

Located on Water Street across from the Peoria Riverfront Museum and Caterpillar Visitor Center.

Location
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