311 SW Water St, Unit 3 & 4

Peoria, IL 61602

$3,500,000
Price
—
Beds
—
Baths
20,038 Sq. Ft.
$175 / Sq. Ft.
20,038
Sq. Ft.
$175
per Sq. Ft.
New
New

Description

We are pleased to present the opportunity to acquire a premier residential portfolio within the Waterfront Place building. This offering includes the entirety of the 3rd and 4th floors (23 luxury loft apartments), a usable 3rd-story rooftop deck, and building air rights. Situated in a renovated 1900 brick-and-timber warehouse, this asset perfectly blends historic industrial charm with modern amenities. Located in the vibrant Peoria Warehouse District and boardering the Central Business District,...We are pleased to present the opportunity to acquire a premier residential portfolio within the Waterfront Place building. This offering includes the entirety of the 3rd and 4th floors (23 luxury loft apartments), a usable 3rd-story rooftop deck, and building air rights. Situated in a renovated 1900 brick-and-timber warehouse, this asset perfectly blends historic industrial charm with modern amenities. Located in the vibrant Peoria Warehouse District and boardering the Central Business District, the property sits adjacent to the OSF IT Headquarters, the Peoria Riverfront Museum, and the Caterpillar Visitor’s Center, ensuring a consistent demand from high-quality tenants. The property is zoned B1 and located in the River Edge Redevelopment District. Full financials available with NDA.
  1. Listed by Mark Ferrill • RE/MAX Traders Unlimited
  2. Listed by Ryan Cannon • RE/MAX Traders Unlimited

Property Details for 311 Southwest Water Street, Unit 3 & 4

Parking Total
0.0
Subdivision Name
None
LISTING UPDATED: 01/30/2026 02:03 PM

Property Details for 311 Southwest Water Street, Unit 3 & 4

StatusActive
MLS #PA1263754
Days on MarketListed Today
Taxes$43,862 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Residential Income
Year Built1900
Lot Size0.00 AC / 0 SF
CountyPeoria County

Location

Listing Courtesy of RE/MAX Traders Unlimited
Add your commute

Building Information for 311 Southwest Water Street, Unit 3 & 4

Stories-Residences23Year Built1900Building Size-Lot Size0.00 AC / 0 SF

Payment Calculator

$20,714 per month

30 year fixed, 6.15% Interest

Principal and Interest

$17,058

Property Taxes

$3,655

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 311 Southwest Water Street, Unit 3 & 4

Summary
Location and General Information
  • City: Peoria
  • County Or Parish: Peoria
  • Directions: From Main, Right on Water
  • Latitude: 40.68816
  • Longitude: -89.59094
  • MLSArea Minor: PAAR Area
  • Postal Code: 61602
  • State Or Province: IL
  • Zoning: B1
Taxes and HOA Information
  • Additional Parcels Description: 18-09-413-004; 18-09-413-005; 18-09-413-006
  • Parcel Number: 18-09-413-003
  • Tax Annual Amount: $43,862
  • Tax Legal Description: Attached
  • Tax Year: 2024
School Information
  • Elementary School: Elise Ford Allen Academy
  • High School: Manual
  • Middle Or Junior School: Elise Ford Allen Academy
Parking
  • Parking Features: On Street, Other
Property
Lot Information
  • Structure Type: Apartment Building
  • Accessibility Features: Elevator, Handicap Access
  • Building Area Total: 20038.0
  • Lot Features: Level, River View
  • Lot Size Acres: 0.0
  • Lot Size Dimensions: 0x0
  • Number Of Units Total: 23
  • 100 Year Plain: Yes
  • Certificate Of Zoning: Yes
  • Road Surface Type: Paved
Property and Assessments
  • Documents Available: Legal Description,Other,Party Wall Agreement,Restrictions/Covenants,Roof Agreement,Tenant Lease(s)
  • Foundation Details: Brick/Mortar
  • New Construction: No
  • Development Name: Waterfront Place
  • Year Built: 1900
  • Year Built Source: Public Records
Utilities
  • Number Of Electric Meters: 23
  • Number Of Gas Meters: 23
  • Numberof Water Meters: 1
  • Water Sewer Expense: $568
  • Water Source: Public Sewer, Public
Interior and Exterior Features
Exterior Features
  • Exterior Features: Rec Area
  • Lawn Snow Removal: 0
  • Roof: Rubber
  • Construction Materials: Brick
Interior Features
  • Basement: None
  • Cooling: Central Air
  • Heating: Electric, Forced Air, Electric Water Heater
  • Interior Features: Cable Available, Elevator, High Speed Internet
  • Laundry Features: Common Area, Owned Equipment
  • Number Of Central Air Units: 23
  • Number Of Dishwashers: 23
  • Number Of Dryers: 6
  • Number Of Heating Units: 23
  • Number Of Ranges: 23
  • Numberof Refrigerators: 23
  • Number Of Washers: 6
  • Number Of Water Heaters: 23
  • Number Of Window Units: 0
  • Operating Recording Device: Audio & Video
  • Unit Entry Level: 1
Multi Family
Income & Expenses
  • Electric Expense: $3,034
  • Gross Income: $391,386
  • Gross Scheduled Income: $385,255
  • Insurance Expense: $2,092
  • Maintenance Expense: $9,282
  • Manager Expense: $17,847
  • Net Operating Income: $223,244
  • Operating Expense: $124,280
  • Advertising Expense: 5626
  • Gas Expense: 3034
  • Misc Annual Income: 6131
  • Trash Expense: $0
Unit 1
  • Fireplace YN: N
  • Full Baths: 2
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 0
  • Number Uncovered: 0
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
Unit 2
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 0
  • Number Uncovered: 0
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
Unit 3
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 0
  • Number Uncovered: 0
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
Unit 4
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 0
  • Number Uncovered: 0
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 4
Rental
Rent Information
  • Lease Term: Variable
  • Annual Vacancy Factor: 41006

Property History for 311 Southwest Water Street, Unit 3 & 4

DateEvent & SourcePriceAppreciation
Jan 30, 2026

Listed (Active)

RMLS ALLIANCE #PA1263754

$3,500,000—
DateEvent & SourcePrice
01/30/2026

Listed (Active)

RMLS ALLIANCE #PA1263754

$3,500,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 311 Southwest Water Street, Unit 3 & 4

This home is within Peoria School District 150.
Rating
School
Type
Grades
Distance
The Elise Ford Allen Academy
Public - K to 8
Manual High School
Public - 9 to 12
Woodruff Career & Tech Center
Public - 5 to 12
Knoxville Center For Student Success
Public - 9 to 12
Rating
School
Distance
The Elise Ford Allen Academy
PublicK to 8

Manual High School
Public9 to 12

Woodruff Career & Tech Center
Public5 to 12

Knoxville Center For Student Success
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 311 Southwest Water Street, Unit 3 & 4, Peoria, IL 61602

311 Southwest Water Street, Unit 3 & 4 is a multi-family home for sale in Peoria, IL 61602. This property was listed for sale on January 30, 2026 by RE/MAX Traders Unlimited, it's currently listed at $3,500,000. This listing's school district is Peoria School District 150. Nearby schools include The Elise Ford Allen Academy, Manual High School and Woodruff Career & Tech Center. 311 Southwest Water Street, Unit 3 & 4 is a 0-bed, 0-bath, 20,038 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Traders Unlimited

Based on information submitted to the MLS GRID as of 01/30/2026 02:03 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.