Peoria, IL Commercial Real Estate for Lease and Sale

Explore 169 listings of Peoria commercial real estate to find the best space for your business.

Noodles & Company and Dog Haus

4712 N University St, Central Peoria, Peoria, IL
Property

Retail

5,050 SF
Year Built

2014
For Sale

$1,800,000
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Westlake Shopping Center

NWC I-74 & Sterling Avenue, Northwest Peoria, Peoria, IL
Property

Retail

210,726 SF
Availability

3 Spaces

24,675 SF
For Lease Contact for pricing
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Route 150

Route 150, Northwest Peoria, Peoria, IL
Property

VacantLand
For Sale

$500,000
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5012 N Big Hollow Rd - Glen Hollow Shopping Plaza

5012 N Big Hollow Rd, Northwest Peoria, Peoria, IL
Property

Retail

9,753 SF
Availability

1 Space

1,050 SF
Year Built

2002
For Lease Contact for pricing
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Office Coworking Retail Industrial

Office Retail Industrial Land
Windsor Square

7318 North University St., North Peoria, Peoria, IL
Property

Retail

15,600 SF
Availability

2 Spaces

2,400 SF
Year Built

1960
For Lease

$12.00/SF/YR
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1101 W Bird Blvd

1101 W Bird Blvd, North Peoria, Peoria, IL
Property

Retail

5,226 SF
For Sale

$2,318,800
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Red Bull Distribution

3605 N Parish Avenue, Central Peoria, Peoria, IL
Property

Industrial

23,454 SF
For Sale

$2,850,000
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5012 N Big Hollow Rd

5012 N Big Hollow Rd, Northwest Peoria, Peoria, IL
Property

Retail

1,050 SF
Availability

1 Space

1,050 SF
For Lease

$14.00/SF/YR
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3709 Sheridan Rd

3709 Sheridan Rd, Central Peoria, Peoria, IL
Property

Office

1,463 SF
Year Built

1972
For Sale

$139,000
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830 West Trailcreek Drive

830 West Trailcreek Drive, North Peoria, Peoria, IL
Property

Office

6,033 SF
Year Built

2005
For Sale

$785,000
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7044 N University St

7044 N University St, North Peoria, Peoria, IL
Property

Retail

1,317 SF
Availability

1 Space

1,317 SF
For Lease

$12.00/SF/YR
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10023 N Knoxville Ave

10023 N Knoxville Ave, Far North Peoria, Peoria, IL
Property

VacantLand
For Sale

$1,500,000
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Bed Bath & Beyond

4816 N. University Street, Central Peoria, Peoria, IL
Property

Retail

31,250 SF
For Sale

$3,300,000
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W Hickory Grove Rd

W Hickory Grove Rd, Far North Peoria, Dunlap, IL
Property

VacantLand
For Sale

$850,000
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9031 Allen Road

9031 Allen Road, Northwest Peoria, Peoria, IL
Property

Retail

10,880 SF
Availability

1 Space

3,600 SF
For Lease

$18.00/SF/YR
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3125 N University St

3125 N University St, Central Peoria, Peoria, IL
Property

Office

16,895 SF
Availability

1 Space

3,900 SF
For Lease

$10.00 - $11.00/SF/YR
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Metro Centre

4620 N University St, Central Peoria, Peoria, IL
Property

Retail

193,410 SF
Availability

14 Spaces

34,433 SF
Year Built

1971
For Lease Contact for pricing
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5001 N Big Hollow Rd

5001 N Big Hollow Rd, Northwest Peoria, Peoria, IL
Property

Retail

46,430 SF
Availability

1 Space

46,430 SF
Year Built

2003
For Lease

$15.00/SF/YR
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Medina Plains-Lot # 15

2900 W Townline Raod, Northwest Peoria, Peoria, IL
Property

Land

1.95 Acre
For Sale

$361,004
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718 SW Adams St

718 SW Adams St, Downtown Peoria, Peoria, IL
Property

Retail

3,300 SF
Year Built

1920
For Sale

$229,000
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7800 N Sommer St

7800 N Sommer St, North Peoria, Peoria, IL
Property

Office

25,000 SF
Availability

5 Spaces

7,096 SF
For Lease

$8.00 - $12.00/SF/YR
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Medina Plains- Lot #17

2900 W Townline Road, Northwest Peoria, Peoria, IL
Property

Land

1.95 Acre
For Sale

$361,004
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7715 N University St

7715 N University St, North Peoria, Peoria, IL
Property

Retail

3,300 SF
Availability

1 Space

3,300 SF
Year Built

1975
For Lease Contact for pricing
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7820 N. University

7820 N. University, North Peoria, Peoria, IL
Property

Office

18,000 SF
Availability

4 Spaces

5,599 SF
Year Built

1978
For Lease

$9.00/SF/YR
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1315 W Commerce Drive

1315 W Commerce Drive, North Peoria, Peoria, IL
Property

Office

12,165 SF
Availability

1 Space

5,049 SF
Year Built

2003
For Lease

$13.00/SF/YR
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406 SW WASHINGTON ST

406 SW WASHINGTON ST, Downtown Peoria, PEORIA, IL
Property

Office

5,290 SF
Availability

1 Space

5,290 SF
Year Built

1970
For Lease Contact for pricing
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1209 SW Adams St

1209 SW Adams St, South Peoria, Peoria, IL
Property

Office

800 SF
For Sale

$149,000
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East Peoria Pad Sites

NWC Main Street and Washington Street, Downtown Peoria, Peoria, IL
Property

Retail
Availability

2 Spaces

78,408 SF
For Lease Contact for pricing
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N. Centerway Drive

N. Centerway Drive, Far North Peoria, Peoria, IL
Property

VacantLand
For Sale

$1,244,073.6
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Trailcreek

900 W. Trailcreek Drive, North Peoria, Peoria, IL
Property

VacantLand
For Sale

$703,494
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Medina Plains-Lot #10

2900 W Townline Road, Northwest Peoria, Peoria, IL
Property

Land

4.04 Acre
For Sale

$791,920.8
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2015 W Glen Ave

2015 W Glen Ave, Central Peoria, Peoria, IL
Property

Office

15,982 SF
Availability

1 Space

1,891 SF
For Lease

$18.50/SF/YR
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7723 N Crestline Dr

7723 N Crestline Dr, North Peoria, Peoria, IL
Property

Industrial

3,444 SF
For Sale

$219,000
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7013 N. Stalworth Drive

7013 N Stalworth Dr, Northwest Peoria, Peoria, IL
Property

Office

5,620 SF
For Sale

$795,000
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Medina Plains-Lot #8

2900 W Townline Road, Northwest Peoria, Peoria, IL
Property

Land

1.64 Acre
For Sale

$321,472.8
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2305 W Altorfer Dr

2305 W Altorfer Dr, North Peoria, Peoria, IL
Property

Office

11,030 SF
Year Built

1985
For Sale

$895,000
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2619 & 2621 N. University Street

2619 & 2621 N. University Street, Central Peoria, Peoria, IL
Property

Retail

8,270 SF
Availability

2 Spaces

1,740 SF
For Lease

$750.00/SF/YR
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Twin Towers, Suite 345

456 Fulton Street, Suite 345 (#C3D), Downtown Peoria, Peoria, IL
Property

Office

10,812 SF
Availability

1 Space

10,821 SF
For Lease

$12.00/SF/YR
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1819 SW Adams St

1819 SW Adams St, South Peoria, Peoria, IL
Property

Industrial

30,090 SF
Availability

1 Space

30,090 SF
For Lease

$6.00/SF/YR
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Allen Road Business Park

2606 W Altorfer Dr, Northwest Peoria, Peoria, IL
Property

Land

55 Acre
For Sale Contact for pricing
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1209 SW Adams St

1209 SW Adams St, South Peoria, Peoria, IL
Property

Office

800 SF
Availability

1 Space

800 SF
For Lease

$1,000.00/MO
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ATS Building

8201 N University St, North Peoria, Peoria, IL
Property

Industrial

257,336 SF
Availability

1 Space

136,524 SF
For Lease

$4.50/SF/YR
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Lot #6 - Pioneer Parkway @ Allen Road

2401 W Pioneer Pkwy, North Peoria, Peoria, IL
Property

Land

1.3 Acre
For Sale

$679,536
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403 SW Jefferson

403 SW Jefferson, North Valley, Peoria, IL
Property

Office

3,712 SF
Availability

1 Space

3,712 SF
For Lease

$10.00/SF/YR
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2305 W Altorfer Dr

2305 W Altorfer Dr, North Peoria, Peoria, IL
Property

Office

11,030 SF
Availability

1 Space

11,030 SF
Year Built

1985
For Lease

$6.95/SF/YR
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1616 - 1620 W Chanute Rd

1616 - 1620 W Chanute Rd, North Peoria, Peoria, IL
Property

Industrial

178,920 SF
Availability

1 Space

107,496 SF
Year Built

1976
For Lease

$3.75/SF/YR
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Shoppes West

7700 - 7730 N. Grand Prairie Drive, Northwest Peoria, Peoria, IL
Property

Retail

22,210 SF
Availability

7 Spaces

10,502 SF
For Lease

$13.00 - $20.00/SF/YR
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8001 N University

8001 N University , North Peoria, Peoria, IL
Property

Retail

37,750 SF
For Sale

$1,900,000
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North Orange Prairie Road

North Orange Prairie Road, Northwest Peoria, Peoria, IL
Property

VacantLand
For Sale

$3,314,044.8
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1818 W War Memorial Dr

1818 W War Memorial Dr, Central Peoria, Peoria, IL
Property

Retail

7,886 SF
Year Built

1992
For Sale

$1,300,000
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836 SW Washington

836 SW Washington, South Peoria, Peoria, IL
Property

Industrial

23,760 SF
Availability

1 Space

11,880 SF
For Lease

$6.50/SF/YR
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7205 - 7207 North Allen Road

7205 - 7207 North Allen Road, Northwest Peoria, Peoria, IL
Property

Office

3,500 SF
Availability

1 Space

3,500 SF
For Lease

$14.00/SF/YR
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Frequently Asked Questions

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate. However, there are three main categories that you are most likely to come across: office, retail, and industrial space.

Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Peoria commercial real estate market incorporates 1,986,818 square feet of office space across 60 buildings.

Office buildings can also accommodate coworking spaces, which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis.
Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Peoria commercial real estate market includes 3,007,582 square feet of retail space in a variety of settings.
Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities. Across the Peoria market, there is a total of 967,078 square feet of industrial property.

The listing inventory in Peoria incorporates commercial real estate for lease and for sale of almost all property types and subtypes. However, you’ll find some categories offer more rental or investment opportunities than others.

The largest share of commercial real estate space for lease in Peoria is represented by Retail space, which accounts for 871,923 square feet of available listings. Office space available in Peoria adds up to 508,451 square feet.

Meanwhile, most of the listings of commercial property for sale in Peoria are in the Office category.

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

The average rent for commercial real estate space listed for lease in Peoria is $13.87 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Peoria can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset.

Whether you are looking for commercial real estate for lease or commercial property for sale, the best choice of location depends on the factors that are most relevant to your business strategy. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type.

As such, there are several areas that you could consider to be the best location for commercial real estate in Peoria, depending on the property type you are interested in. The highest concentration of commercial space listings of any kind in Peoria is in the Central Peoria neighborhood. But if we look at each commercial property type, we find that for office space, the best location is the Central Peoria area.

Meanwhile, retail space opportunities are most abundant in the Central Peoria submarket. Alternatively, if you are looking for warehouse or other industrial space, consider looking at listings in South Peoria.

Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

Regardless of whether buying or leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker. In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market, the property type you need representation for, and will handle negotiations on your behalf in your best interest.

To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker. Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests.

CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $98.08 per square foot. In particular, the property type commanding the highest lease rates in Peoria was Retail space.

The average size of a commercial property in Peoria depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use:

In Peoria, the average size of an office property is 34,256 square feet.
Retail properties here incorporate an average of 63,992 square feet.
Industrial space in Peoria is in buildings that are, on average 64,472 square feet in size.

Peoria, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial real estate listings for rent in Peoria currently add up to 1,827,710 square feet. The market offers 44 active office listing(s), which amount to 512,787 square feet and account for 46% of commercial spaces on the market. Local retail availability includes 882,322 square feet across 39 retail space(s). Industrial space for rent opportunities in Peoria amount to 417,526 square feet across a total of 9 warehouse and other industrial listing(s).

Property Type	Count of Listings	Total SF
Office	44	512,787
Retail	39	882,322
Industrial	9	417,526
Other	2	15,075

Commercial Space for Sale Breakdown

What’s more, if you are interested in making an investment in the local market, you can also find commercial real estate for sale in Peoria, IL. Currently, there is 1,738,267 square feet of commercial property for sale here , which includes 17 office building(s) for sale , 15 retail investment opportunity listing(s) , and 6 listing(s) of industrial real estate property for sale .

Property Type	Count of Listings	Total SF
Office	17	458,620
Retail	15	193,160
Industrial	6	307,606
Other	38	778,881

Peoria, IL Commercial Real Estate for Lease and Sale

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Peoria, IL?

What factors affect the price of commercial real estate in Peoria, IL?

What is the average rent for commercial space in Peoria, IL?

What are the best areas for commercial real estate in Peoria, IL?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Peoria, IL?

Peoria, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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