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    1051 E North Avenue & 405 Park Flora & Cisne, IL 62839

    View on Map
    For Sale
    $625,000

    Commercial Business, Other - Flora & Cisne, IL

    Property size:
    65,535 SF
    Added:
    Oct 31, 2024
    Days on Market:
    523
    Last Refresh:
    Apr 6 at 2:06 am

    Property Features for 1051 E North Avenue & 405 Park Flora &

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
    Parking features
    Garage
    Standard status
    Active
    APN
    1025237021 & 0350041005
    Size
    65,535 SF

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    4235

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Building materials
    Brick
    Roof type
    Asphalt, Metal, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Amy Bailey
    Amy Bailey

    Listing agent Amy Bailey

    Listing office AMY LEE REALTY LLC 201 E. 2nd, Flora, IL

    Listing date Oct 31, 2024

    MLS# 11359552 Listing URL

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

    Overview

    Two Turnkey Businesses For Sale

    Two operational businesses are available for purchase in combination. The first is AJ's Texicana Restaurant & Gaming in Cisne, IL, which includes the LLC. This establishment features a restaurant, bar, and gaming venue. The property has been updated with new plumbing, electrical systems, kitchen including grease trap, outdoor buildings, a bar, gaming area, paint, flooring, and lighting. Everything is included minus some decor. The second business, East End Still- Picker's Lounge, is located in Flora, IL. This turnkey, fully functional store, gaming lounge, and bar includes the LLC. The building has over 2500 sq ft of space. The side lounge is used for gaming. The bar area seats several people and opens to a large addition added in 2020. The bar includes speed bars, under counter coolers, a large sink, and a custom-built bar. The addition has an oversized stage area, a pool table area, and tables and chairs for additional seating. The store section has a layout and two walls of coolers. A drive-through is present. There are two walk-in cold coolers, one walk-in dry cooler, and a storage room. Two handicap-accessible bathrooms are present. The corner location has high traffic and visibility on the edge of town. Fixtures, furniture, product, stock, and most of the equipment are included. East End Picker's is still open for business.
    Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Map

    City
    Cisne
    County
    Wayne
    State
    Illinois
    Longitude
    -88.5031
    Latitude
    38.6705

    FAQs

    What type of property is this?
    Bar & Pub - Two fully operational businesses including restaurant, bar, gaming and store.
    Where is this bar & pub located?
    The property is located at 1051 E North Avenue & 405 Park Flora & Cisne, IL.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: Two turnkey, operating businesses offered together.; Includes LLCs for both businesses, ensuring immediate operation.; Fully updated facilities with new plumbing, electrical, and kitchen.
    (618) 662-3170
    We can help!
    Listing Contact
    Amy Bailey
    Amy Bailey
    Learn More
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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
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