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    The Largest CRE Database in the US with Over 1 Million Listings

    207 Armory Ct, Unit 205-209 Streator East, IL 61364

    Sponsored
    For Sale
    $290,000

    COMMERCIAL - Streator, IL

    Days on Market:
    70
    Last Refresh:
    Feb 8 at 2:06 am

    Property Features for 207 Armory Ct

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RTAIL

    Utilities

    Cooling system
    Central Air

    Building Details

    Floors in Building
    1

    We can help!

    Listing Contact
    Joel Harris
    Joel Harris

    Honig Realty, Inc. (dba. Coldwell Banker Honig-Bell) (815) 553-2411

    Listing agent Joel Harris (630) 844-2222

    Listing date Dec 1, 2025

    MLS# 12426724

    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.

    Learn more

    Property Insight Report

    Overview

    Turnkey Italian Restaurant Business Opportunity

    This is a business-only sale for a casual, family-friendly Italian restaurant that has been serving pizza, beef rolls, and other comfort foods for 35 years. The dining room seats over 40 people and is suitable for large families or groups. There is a dedicated gaming area and a 4-person bar. The business is turnkey, and the current owners will assist with turnover, gaming, and liquor license transfer. Future consulting services are negotiable. The business sale price includes all equipment, such as ovens, an ansul system, a 3-compartment sink, cooktops, fridges, freezers, inventory, cookware, bakeware, a POS system, TVs, and delivery equipment, as well as the menu. The soda and gaming machines are not included but can easily be transferred to the new owner. The location of the business assists with providing prompt delivery to all areas of town, as it is centrally located on an east/west corridor. Much of the business is through carryout service from 4 pm to 6 pm daily. The property is located in Streator, IL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Anna's Pizza Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    Chix Restaurant

    Location Insight

    • Map
    • Local Demand
    City
    Streator East
    County
    LaSalle
    State
    Illinois
    Longitude
    -88.840793
    Latitude
    41.119577

    Nearby Similar for Sale

    • $335,000
      6,231 SF

      501 Oakley Ave, Streator, IL 61364

      Mixed-use properties • 6,231 SF
      501 Oakley Ave, Streator, IL 61364
      View Details
    • $500,000
      72,623 SF

      1206 Elm St, Streator, IL 61364

      Mixed-use properties • 72,623 SF
      1206 Elm St, Streator, IL 61364
      View Details

    FAQs

    What type of property is this?
    Restaurant - Established Italian restaurant for sale with equipment and inventory.
    Where is this restaurant located?
    The property is located at 207 Armory Ct, Unit 205-209 Streator East, IL.
    What is the asking price?
    The asking price for this property is $290,000.
    What are key features of this property?
    This property features: - Turnkey business opportunity with all equipment included (ovens, refrigerators, POS system, etc.); - Established business with 35 years of operation and loyal customer base.; - Assistance with turnover, gaming and liquor license transfer, and future consulting from current owners.
    (815) 553-2406
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    207 Armory Ct, Unit 205-209 Streator East, IL 61364
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    Streator East, IL 61364
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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
    207 Armory Ct, Unit 205-209 Streator East, IL 61364
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    We can help!
    Listing Contact
    Joel Harris
    Joel Harris
    Real Estate License ID: 475211257
    (815) 553-2406
    Learn more
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