101 unit urban in-fill multi-family property located in the Peoria, IL MSA, with a total market population of 380,000. 1970 construction across the street from OSF Saint Francis Medical Center – 1,500+ medical employees. There is an opportunity to continue unit upgrades for a 10% rent increase.
Located on the banks of the Illinois River, Peoria is at the heart of the Greater Peoria area and offers a wealth of attractions, events, historical sites, shopping and artistic venues.
Peoria is located midway between Chicago and St. Louis. Combining "big city assets" with a "smaller town lifestyle", this community has emerged as an attractive location. The area is home to Caterpillar which employs nearly 85,000 people worldwide and Bradley University which has a student population of approximately 20,000. One million people live within a 60-mile radius of Peoria. The greater Peoria metropolitan area has a population of over 350,000; a secondary trade area includes 10 counties, nearly 100 communities and more than 700,000 people.
Peoria is the largest city on the Illinois River and the county seat of Peoria County, Illinois, in the United States. As of the 2010 census, the city was the seventh-most populated in Illinois, with a population of 115,007. The Peoria Metropolitan Statistical Area had a population of 373,590 in 2011, making it the third largest metropolitan area in the state after the Chicago metropolitan area, and the Metro-East portion of the St. Louis metropolitan area.
Peoria has become famous as a representation of the average American city because of its demographics and its perceived mainstream Midwestern culture. It is also headquarters for Caterpillar Inc., one of the 30 companies composing the Dow Jones Industrial Average.