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1607 36th St
Peru, IL 61354
Former Sears Box at Peru Mall · Retail Property For Sale
Investment Highlights
- Prime Retail Center of Gravity: located in the heart of the Peru’s main retail corridor just off the interchange of I-80 and Hwy 251
- Flexible REA & Zoning Ordinance: The REA agreement for the Vacant Sears at Peru has expired.
- This property is being offered free and clear of any existing debt obligations.
- Situated within Peru Mall: Home to national credit tenants such as Marshalls and AMC Theaters. Over 1.2M visits in 2024.
- he property is zoned as a B-2 classification which allows for a greater range of retail shopping and financial services than in the B-1.
Executive Summary
CBRE is pleased to present, as the exclusive advisor, the opportunity to acquire a 100% fee simple interest in the former Sears at Peru Mall. The Property is on ±8.38 acres with a ±98,444 square foot, single-story, former Sears building connected to the south end of Peru Mall. Located in the city of Peru, Illinois, the vacant Sears box presents a unique opportunity for future investors to acquire and re-tenant the existing building and to contribute to the growth and stability of Peru Mall.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Department Store
Building Size
98,444 SF
Building Class
B
Year Built
1974
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
8.38 AC
Zoning
b2
Parking
483 Spaces (4.91 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 17-05-404000 | Improvements Assessment | $89,769 |
| Land Assessment | $191,624 | Total Assessment | $281,393 |
Property Taxes
Parcel Number
17-05-404000
Land Assessment
$191,624
Improvements Assessment
$89,769
Total Assessment
$281,393
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