DEVELOPMENT OPPORTUNITY IN THE HEART OF PEORIA
The best chain restaurant location in Peoria is available to a new tenant - for the first time since 1988!
The best chain restaurant location in Peoria is available to a new tenant - for the first time since 1988!
4625 N Sterling was united as a single commercial property for Red Lobster in 1988. A thriving restaurant for more than 30 years, the new post-bankruptcy ownership of RL determined that they did not want to operate in mid/downstate IL and closed this restaurant in August 2024.
In the heart of Peoria's commercial district and proximate to multiple residential neighborhoods, 4625 N Sterling is adjacent to Northwoods Mall and across the street from recently national chain developments, including Chick-Fil-a, Panda Express, McDonald's, and Dunkin.
This ADA compliant property is easily accessible by car from two major roads, Sterling and Rockwell, and is bordered by pedestrian sidewalks. A thriving carryout business was established from this location during COVID.
A proven hot spot geographically, this property boasts a huge commercial kitchen with 3 walk-ins (meat, seafood, produce), seated dining for 150+ guests, and 100+ parking spots (including 5 ADA).
All prep surfaces are installed, awaiting commercial appliances, and the property boasts a full 16' bar area partitioned from the main dining area. Full bench and table seating is installed.
Ideal uses include: National or Regional Casual Dining Chain, Independent Casual or Fine Dining restaurant. Alternative uses include Offices, Church.
AT THIS TIME PROJECT 4625 IS NOT INTERESTED IN WORKING WITH BROKERS OR AGENTS TO MARKET THIS PROPERTY, AND HAS NO EXISTING AFFILIATIONS WITH REAL ESTATE BROKERS OR AGENTS.
Please note: unsolicited outreach from brokers and agents interested in listing the property on behalf of the ownership will NOT be replied to.
Brokers or Agents reaching out on behalf of a client must disclose the client's name and specific usage interest in order to engage in discussions.
4625 North Sterling Avenue, Peoria, Illinois 61615, United States
EMERGENCY CONTACT: (773) 620-3708 Text only | DO NOT CALL
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