Rare Riverfront Commercial
1626 State Route 31, Oswego, IL 60543
COMMERCIAL - Oswego, IL
Property size:
12,000 SFLot size:
14.74 AcresPrice / SF:
$179/SF- Added:
- Oct 8, 2025
- Days on Market:
- 226
- Last Refresh:
- May 21 at 9:06 pm
Property Features for 1626 State Route 31
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 0308326001
- Size
- 12,000 SF
- Lot size
- 14.74 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 18797
Utilities
- Cooling system
- Central Air
- Water front
- 1
Building Details
- Floors in Building
- 2
Listing agent Seina Fatoorehchi License #471021063 (847) 737-7155
Listing office Realty Executives Advance 1750 E Golf Rd Suite 140, Schaumburg, IL (847) 737-7155
Listing date Oct 8, 2025
MLS# 12491440
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Massive 12,000 sq ft building featuring a commercial kitchen, event space, dining space, 12 dorm rooms (sleeping 96), and 6 bathrooms.
- 14.5 acre property with over 700' of Fox River frontage and a private lake.
- Endless possibilities: suitable for a retreat, RV park, wedding venue, or waterfront estate.
- Includes existing amenities such as a basketball court, playground, and RV hook‑ups.
- Two large sheds offer potential for renovation into additional living spaces.
- Features a huge wrapping driveway providing extensive privacy from the main road.
Overview
This rare 14.5-acre commercial property is located on the Fox River near Downtown Oswego. The property includes a private lake and over 700 feet of river frontage. A large wrapping driveway provides privacy from the main road. Outdoor amenities include a basketball court and playground. Two large sheds are present, currently used for storage but with potential for renovation into livable spaces. The property features a 12,000 sq ft free-standing building equipped with an elevator and a full commercial kitchen that includes appliances, a hood system, and a commercial dishwashing station. The building also contains a large event space, a separate large dining space, 12 dorm rooms each with 4 bunk beds, a laundry room, designated office spaces, a designated AV room, 6 bathrooms, and ample storage. The property includes RV hook-ups. It was previously used as a spiritual retreat, but has potential for various uses such as a summer camp, RV park, spa retreat, tree/plant nursery, or senior care facility. The property could also be re-zoned to build a waterfront estate or transformed into a wedding reception venue, utilizing the existing commercial kitchen, ceremony space, dining area, dance floor, and bathrooms.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.55M
NOI $139,210 @ 9.00% cap · cautious / downside scenario
Moderate
$1.99M
NOI $139,210 @ 7.00% cap · market / base-case scenario
Aggressive
$2.78M
NOI $139,210 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $272.2k | $22.68 |
| − Vacancy | −$19.1k | −$1.59 |
| EGI | $253.1k | $21.09 |
| − OpEx | −$113.9k | −$9.49 |
| NOI | $139.2k | $11.60 |
12,000 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.99M
$1.74M – $2.32M
NOI $139,210 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.14M
$3.63M – $4.83M
NOI $290,014 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Camp Quarryledge
Conference Center
Location Insight
- Map
- Local Demand
- City
- Oswego
- County
- Kendall
- State
- Illinois
- Longitude
- -88.354629
- Latitude
- 41.697735
Nearby Similar for Sale
FAQs
What type of property is this?
Wedding venue - 14.5-acre property with private lake and 700' river frontage.
Where is this wedding venue located?
The property is located at 1626 State Route 31 Oswego, IL.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Massive 12,000 sq ft building featuring a commercial kitchen, event space, dining space, 12 dorm rooms (sleeping 96), and 6 bathrooms.; 14.5 acre property with over 700' of Fox River frontage and a private lake.; Endless possibilities: suitable for a retreat, RV park, wedding venue, or waterfront estate.
