Building Details

Year built 1900

Number of units 1

Building materials Brick

Architectural style Other

Listing Agency: Exit Country Realty Show Phone

Listed By: Emily Melody · License #*** Show Phone

Added: Apr 28, 2025 Changed: Sep 7 Last Checked: Sep 12 at 12:06AM

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MLS# 6327054

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

Investment Insights

Based on property information with market context.

This former Carnegie Library is configured as a retail property with distinctive historic character and adaptable commercial space. Built in 1900, the brick building features high ceilings, large windows, and a main level measuring 1,833 square feet. A full basement of approximately 1,800 SF adds storage or office capacity. An accessible elevator is installed, and the property uses ductless heating.

The building stands on the downtown square at 120 N Illinois Street in Lake City, Iowa. It previously operated as the Carnegie Cafe, a restaurant and bar, and the interior and exterior underwent extensive renovations in 2016 with additional updates in 2024. On-street parking serves the property.

The existing configuration can support retail, office, dining, or event uses, subject to applicable requirements. Its prior restaurant and bar operation provides an established commercial layout for an operator evaluating multiple business formats.

Key Highlights

• 1,833‑square‑foot main floor with approximately 1,800 SF basement
• Built in 1900 as a Carnegie Library
• Brick construction with high ceilings and large windows

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Plumbing Service (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Garden Center Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

153

Businesses Nearby

5k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Sinclair Shops & Services

3,637 visits/mo 0.3 miles

Napa Auto Parts Shops & Services

1,376 visits/mo 0.4 miles

Demographics for 51449, IA

2,098

Population

910

Households

2.3

Avg Household Size

48

Median Age

18%

College-Educated

94%

High-School Grad

89.7 sq mi

ZIP Area

23

Density / Sq Mi

$66,750

Median Household Income

$41,150

Median Earnings

$761

Median Rent

$119,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Retail space - Restored brick commercial building with flexible retail, dining, office, and event-use potential in a downtown setting.

Where is this retail space located?

The property is located at 120 N Illinois Street Lake City, IA.

What is the asking price?

The asking price for this property is $99,000.

What are key features of this property?

This property features: 1,833‑square‑foot main floor with approximately 1,800 SF basement; Built in 1900 as a Carnegie Library; Brick construction with high ceilings and large windows