PEORIA — One of the city’s most prominent downtown office buildings has been listed for sale at an eight-figure price tag.
The Becker Building, which sits at 401 Main St., has been put on the market for $10.7 million.
Built in 1993 by Peoria developer G. Raymond Becker, the 16-story, 162,000-square-foot building sits prominently in Downtown Peoria between the Twin Towers and the Commerce Bank Building. The Becker family still owns the building, real estate agent John Abuja told the Journal Star.
Abuja said the Becker Building is a “premier” office building and is currently at 91% occupancy, anchored by tenants such as the state of Illinois, Central Management Services and Commerce Bank.
“It is essentially the premier office environment, with high visibility and panoramic views of the river which makes it one of the most desirable office locations in the Peoria market,” Abuja said. “It’s in the heart of the business district, well-stabilized at 91% occupancy and it has a four-story interior parking deck for executive parking.”
The Becker Building has never been listed for sale before, Abuja said.
Abuja said the building performs “very well” financially. It lists a net operating income of $969,627 in the listing information.
“It’s definitely a long-term hold opportunity because they aren’t making anymore Class-A office buildings in Downtown Peoria,” Abuja said.
As far as the market goes for an office building like this one in 2026, Abuja said there is a “flight to quality” and that is what the Becker Building offers.
“It’s in phenomenal condition, it’s glass, marble, walnut, it’s a true Class-A office finish, they’ve taken incredible care of it,” Abuja said.
The building also sits in an opportunity zone in Peoria’s Central Business District, opening it up for potential tax incentives for a buyer, Abuja said.
This article originally appeared on Journal Star: Prominent Downtown Peoria office building listed for sale
Reporting by JJ Bullock, Peoria Journal Star / Journal Star
USA TODAY Network via Reuters Connect
By JJ Bullock, Peoria Journal Star | USA TODAY Network
