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    101 E Devore Ave Pearl City, IL 61062

    Sponsored
    For Sale
    Pending
    $350,000

    Business/Retail - PEARL CITY, IL

    Type:Retail
    Days on Market:
    9
    Last Refresh:
    Jan 20 at 3:06 am

    Property Features for 101 E Devore Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Pending
    APN
    021709154001

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Building materials
    Other
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    KATIE MCPEEK

    Jim Sullivan Realty (815) 947-9040 [email protected]

    Listing agent KATIE MCPEEK (815) 947-9040 License #475133587

    Listing date Jan 12, 2026

    MLS# 202503255 Listing URL

    Copyright © 2026 Rockford Area MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turn-Key Restaurant and Bar Opportunity

    This is an opportunity to own a turn-key restaurant and bar establishment known for its popular burgers. The restaurant and bar come fully equipped with real estate, equipment, and a dedicated staff. The owner is willing to share his knowledge of the business and recipes. The space spans over 6,000 sq ft and includes a dining room, bar, kitchen, and office. A stylish lounge area offers an intimate setting for private gatherings, or can be transformed into additional dining space or a video gaming lounge. Above the restaurant, a spacious, unfinished area presents opportunities for business expansion, staff housing, or rental income, allowing you to fully customize and maximize the property’s potential. The building has been continually updated with routine maintenance, stylish furnishings, and welcoming décor to enhance the dining experience. Seller financing is available for qualified buyers. The property is located in Pearl City, IL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Building Supply Auto Repair Shop Wholesale Shop Daycare Center Kitchen & Bath HVAC Service Bar & Pub Convenience Store Laundry Service Tailor Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Route No. 73 Brew & Chew, Little John's Tap

    Location Insight

    • Map
    • Local Demand
    City
    Pearl City
    County
    Stephenson
    State
    Illinois
    Longitude
    -89.825848
    Latitude
    42.265289

    Nearby Similar for Sale

    • $200,000

      Self-Storage Facility Investment Opportunity

      27-unit self-storage facility with expansion potential in Pearl City, IL.
      200-208 North St E, Pearl City, IL 61062
      View Details

    FAQs

    What type of property is this?
    Bar - Restaurant and bar with real estate, equipment, and dedicated staff.
    Where is this bar located?
    The property is located at 101 E Devore Ave Pearl City, IL.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: - Turn-key restaurant and bar with real estate, equipment, and dedicated staff included.; - Seller financing available for qualified buyers.; - Established business with loyal customer base and popular burger recipes (owner willing to share knowledge).
    (815) 821-1322
    Request Owner's contact information
    101 E Devore Ave Pearl City, IL 61062
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    Pearl City, IL 61062
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    101 E Devore Ave Pearl City, IL 61062
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    We can help!
    Listing Contact
    KATIE MCPEEK
    Real Estate License ID: 475133587
    (815) 821-1322
    Learn more
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