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    223 N Pearl St Waverly, IL 62692

    For Sale
    $125,000

    Business - Waverly, IL

    Type:Business
    Property size:
    7,000 SF
    Lot size:
    0.15 Acres
    Days on Market:
    149
    Last Refresh:
    Dec 5 at 9:06 pm

    Property Features for 223 N Pearl St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Standard status
    Active
    APN
    19-11-204-006
    Appliances
    Barbeque or Grill, Dishwasher, Freezer, Ice Maker, Microwave, Range, Refrigerator, Refrigerator - Built-in, Washer, Water - Instant Hot
    Size
    7,000 SF
    Lot size
    0.15 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    1890
    Flooring type
    Wood
    Building materials
    Brick, Metal Siding
    Architectural style
    Other

    Tarrant & Harman Real Estate and Auction Co. (618) 433-9436 [email protected]

    Listing agent Amy Quarton (618) 433-9436 License #475.200446

    Listing date Jul 10, 2025

    MLS# 25046413 Listing URL

    Copyright © 2025 MARIS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waverly Commercial Property with Income

    Located on the town square in Waverly, Illinois, approximately 30 minutes from Springfield with highway access, this 7,000 sq ft commercial property includes two connected buildings. The south building was constructed in 1890, and the north building in 1901. The business is currently in operation and generates income. The property is suitable for entrepreneurs, investors, or business owners seeking a move-in-ready space. Each floor offers 3,500 sq ft of space, suitable for a professional office, restaurant, boutique retail space, or multi-use business hub. The main floor is equipped and ready for business, while the upstairs level is available for renovation, suitable for expanding operations, adding an office or studio, or for storage space. The interior features wood flooring, brick and metal siding construction, and kitchen equipment, including a built-in grill, double freezers, vented exhaust fans, a wine/bar fridge, dishwasher, and ovens. The property includes central air, ceiling fans, and forced air heat, along with utility connections and accessibility features such as a ramp entrance and wide doors. Situated on a 0.15-acre lot, this location offers potential for a variety of business uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Verda Mae's Restaurant

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop Accounting Firm

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

    Similar Places Nearby

    Penny's Garden Party, All About Flowers

    Location Insight

    • Map
    • Local Demand
    City
    Waverly
    County
    Morgan
    State
    Illinois
    Longitude
    -89.953835
    Latitude
    39.592923

    FAQs

    What type of property is this?
    Storefront property - Two-story, 7,000 sq ft commercial property in Waverly, IL.
    Where is this storefront property located?
    The property is located at 223 N Pearl St Waverly, IL.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: - Income-generating commercial property in operation, offering immediate value.; - Prime location on the charming town square of Waverly with high visibility.; - Spacious 7,000 sq ft property with versatile potential for office, restaurant, retail, or multi-use business.
    (618) 433-9436
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    223 N Pearl St Waverly, IL 62692
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    Waverly, IL 62692
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    Realmo Value Estimation

    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.

    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.

    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
    223 N Pearl St Waverly, IL 62692
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