As the largest community in Tazewell County, Pekin led real-estate sales for the county this summer. A key factor may be the low cost of a home there.
According to statistics from the real estate listings website realtor.com, the median listing price of a home in Pekin is just under $100,000. The online real estate marketplace company Zillow reported that the current median price for a home in Illinois is $239,409 – more than double Pekin’s median price. And the demographic research company World Population Review noted that the median home price in West Virginia, the state with the lowest median home price nationwide, is $107,927.
While Pekin poses affordable living, some buyers may prefer gracious living to thrift. With those buyers in mind, here are the five highest-priced Pekin homes currently for sale.
Kendra Sipes, a Realtor for the Knell Group of Coldwell Banker Real Estate Group, described the 5,047-square-foot house on a 12-acre prairie lot as a cohesive Scandinavian design that features modern finishes, clean lines, nearly 60 windows to provide natural light and four floors of living space.
“Everything about the design is custom, from the stone exterior to the luxury bathrooms, woodwork and staircases topped with custom railings that add to the open design,” said Sipes.
The home’s price is comparable to that of a similar property in communities like Germantown Hills, Dunlap, Brimfield, Morton and Washington, Sipes added. In large metropolitan areas like Chicago or St. Louis, a custom house of its size would sell for between $1.5 million and $3 million.
A 3,754-square-foot, custom two-story Bay Pointe Estate house, the property offers two master suites, along with the potential for five bedrooms and two full baths. The most unique selling point, according to Brad Barnard, a broker for Keller Williams Premier Realty, may be behind the house itself.
“It’s got a beautiful wooded lot in the back with a lot of wildlife,” Barnard explained. “It’s very peaceful there.”
While Barnard didn’t speculate on what a similar home would cost in a large metropolitan area, he estimated that it could cost as much as $100,000 more in Peoria or North Peoria.
“That’s a tough pin to put on a map,” he added.
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It is not surprising that a list of Pekin’s five highest-priced homes includes property on Lake Arlen. Realtor Adam Merrick listed the 5,798-square-foot house as an “amazing lakefront find” that features five bedrooms, four-and-half baths, a three car garage, a two-story entry, a large lot with landscaping that includes an Asian apple tree and a dock.
Realtor Mary Ann Ladendorf of RE/MAX Traders Unlimited described the four-bed, two-and-a-half bath house as a “phenomenal home” on “phenomenal grounds” in the realtor.com listing. Updates to the house include a new custom kitchen, roof, wood floors, driveway and deck. As with other homes listed, the most unique selling points may be outside of the house itself. The property boasts three ponds, a rose garden and an irrigation system, along with a three-stall garage and a heated hobby room.
Pekin’s fifth-most-expensive home currently for sale is just a few blocks from the fourth-highest-priced home. Adam Merrick Real Estate, which is also the Realtor for the third-highest-priced home on Pekin’s current market, described the 3,150-square-foot five bed, three bath split-level house as a “beautiful brick home over two acres.” Some of the property’s more intriguing features include a treehouse and an aboveground saltwater pool.