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400 NE Perry Ave - The Scottish Rite Theatre 31,662 SF Sports & Entertainment Building Offered at $3,900,000 in Peoria, IL 61603
Investment Highlights
- State Of The Art Grand Theatre with total capacity for 905 people.
- Four Levels of Lounges, Meeting Rooms, Offices and Reception Areas with built-in bars and beautiful stained glass.
- Banquet Hall with commercial kitchen and hand-crafted bar with capacity for 400 people.
- Ideal for live performances, private events, entertainment, or destination venue use.
Executive Summary
A majestic architectural masterpiece originally constructed in 1925, the historic Scottish Rite Theatre has been completely and meticulously restored to perfection. This fully furnished, move-in-ready property seamlessly blends timeless craftsmanship with modern innovation, featuring state-of-the-art sound and lighting systems, all-new mechanicals, and upgraded infrastructure throughout.
The recent comprehensive renovation preserved the character and lost arts of the original design while delivering modern functionality, including new HVAC systems, full ADA accessibility, and a stunning restoration of the iconic stained-glass windows. The offering includes an extensive inventory of furnishings, fixtures, and equipment, such as event tables, chairs, linens, and décor—allowing new ownership to open the doors immediately with everything in place.
Ideally located on Perry Avenue within the Northside Historic District and the East Village TIF District, the property benefits from a highly accessible setting just off Interstate 74, with proximity to downtown amenities and ample surrounding parking. This exceptional asset presents a rare opportunity to acquire a fully restored, turnkey historic theatre suitable for live performances, events, and destination entertainment.
The recent comprehensive renovation preserved the character and lost arts of the original design while delivering modern functionality, including new HVAC systems, full ADA accessibility, and a stunning restoration of the iconic stained-glass windows. The offering includes an extensive inventory of furnishings, fixtures, and equipment, such as event tables, chairs, linens, and décor—allowing new ownership to open the doors immediately with everything in place.
Ideally located on Perry Avenue within the Northside Historic District and the East Village TIF District, the property benefits from a highly accessible setting just off Interstate 74, with proximity to downtown amenities and ample surrounding parking. This exceptional asset presents a rare opportunity to acquire a fully restored, turnkey historic theatre suitable for live performances, events, and destination entertainment.
Property Facts
| Price | $3,900,000 | Lot Size | 1.34 AC |
| Price Per SF | $123.18 | Building Size | 31,662 SF |
| Sale Type | Owner User | No. Stories | 4 |
| Property Type | Sports & Entertainment | Year Built/Renovated | 1924/2021 |
| Property Subtype | Theater/Concert Hall | Parking Ratio | 3.7/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Zoning | R-8 - Residential | ||
| Price | $3,900,000 |
| Price Per SF | $123.18 |
| Sale Type | Owner User |
| Property Type | Sports & Entertainment |
| Property Subtype | Theater/Concert Hall |
| Building Class | B |
| Lot Size | 1.34 AC |
| Building Size | 31,662 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1924/2021 |
| Parking Ratio | 3.7/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-8 - Residential |
Amenities
- Wheelchair Accessible
- Lounge
- Air Conditioning
- Smoke Detector
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Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 18-04-476-013 | Improvements Assessment | $809,150 |
| Land Assessment | $127,840 | Total Assessment | $936,990 |
Property Taxes
Parcel Number
18-04-476-013
Land Assessment
$127,840
Improvements Assessment
$809,150
Total Assessment
$936,990
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400 NE Perry Ave - The Scottish Rite Theatre
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