Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    316 N Main Street Seneca, IL 61360

    View on Map
    For Sale
    $359,000

    COMMERCIAL - Seneca, IL

    Lot size:
    0.24 Acres
    Added:
    Oct 14, 2025
    Days on Market:
    170
    Last Refresh:
    Apr 1 at 6:06 pm

    Property Features for 316 N Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    2424305016
    Lot size
    0.24 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    2003

    Utilities

    Cooling system
    Central Air

    Building Details

    Floors in Building
    1

    We can help!

    Listing Contact
    Philip Howell
    Philip Howell

    Listing agent Philip Howell License #475119140

    Listing office RE/MAX Top Properties 101 E Waverly St., Morris, IL

    Listing date Oct 14, 2025

    MLS# 12495226

    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.

    Overview

    Seneca Bar & Grill For Sale

    This commercial property in Seneca, Illinois, presents an investment opportunity. It is a bar and grill located downtown, featuring both indoor and outdoor seating, including a beer garden with a covered patio area. The interior includes an updated bar with multiple TV screens, a dining seating area, a gaming room, and a recreation area equipped with a pool table and darts, with room to expand for additional activities and private parties. The property also features a full kitchen, complete with a hood and all necessary equipment, including a commercial refrigerator and freezer. Situated in a growing Seneca market, the property benefits from a downtown location, just minutes from the Illinois River and marinas, with convenient access to Route 6 and Route 80. The lot size is 0.241 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    3rd Bar Bar & Pub

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Food Market

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

    Similar Places Nearby

    • Fergy's Bar & Grill — 272 N Main St, Seneca, IL 61360
    • Shamrock Slots — 262 N Main St, Seneca, IL 61360

    Location Insight

    • Map
    • Local Demand
    City
    Seneca
    County
    LaSalle
    State
    Illinois
    Longitude
    -88.610047
    Latitude
    41.317764

    Nearby Similar for Sale

    • $45,900

      Woodsmoke Ranch Campground Lot

      Furnished campground lot with amenities in Woodsmoke Ranch.
      2795 E 28th Lot 992 Road, Seneca, IL 61360
      View Details
    • $89,900

      Park Model at Woodsmoke Ranch

      Furnished park model with amenities in gated RV community.
      2795 E 28th Lot 1286 Road, Seneca, IL 61360
      View Details
    • $47,900

      Woodsmoke Ranch Park Model

      Park model in Woodsmoke Ranch with many amenities.
      2795 E 28th Lot 1149 Road, Seneca, IL 61360
      View Details
    • $44,900

      Woodsmoke Ranch Park Model

      Park model with deck, privacy, and community amenities.
      2795 E 28th Lot 1132 Road, Seneca, IL 61360
      View Details
    • $51,000

      Woodsmoke Ranch Getaway Cabin

      Cozy, furnished cabin in Woodsmoke Ranch, move-in ready.
      2795 E 28th Lot 1482 Road, Seneca, IL 61360
      View Details
    • $60,000

      Woodsmoke Ranch Campground Lot

      Gated campground lot with RV and resort-style amenities.
      2795 E 28th Lot 298 Road, Seneca, IL 61360
      View Details
    • $38,000

      RV Lot in Gated Community

      RV lot with park model in Woodsmoke Ranch, Seneca, IL.
      2795 E 28th Lot 784 Road, Seneca, IL 61360
      View Details
    • $54,900

      Furnished Getaway at Woodsmoke Ranch

      Turnkey property on a desirable corner lot with many amenities.
      2795 E 28th Lot 1245 Road, Seneca, IL 61360
      View Details
    • $45,000

      Woodsmoke Ranch Getaway Opportunity

      Two-bedroom park model in a recreational community with many amenities.
      2795 E 28th Lot 1470 Road, Seneca, IL 61360
      View Details
    • $75,000

      Turnkey Campground Living in Seneca

      Well-designed park model in Woodsmoke Ranch with abundant amenities.
      2795 28th Lot 1401 Road, Seneca, IL 61360
      View Details
    • $23,900

      Woodsmoke Ranch Lot with Park Model

      Park model on a lot with amenities and outdoor space.
      2795 E 28th Lot 1206 Road, Seneca, IL 61360
      View Details
    • $35,000

      Campground Lot with Updated Park Model

      Updated 2-bedroom park model in Woodsmoke Ranch Campground.
      2795 E 28th Lot 815 Road, Seneca, IL 61360
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Downtown Seneca bar and grill with indoor and outdoor seating.
    Where is this bar & pub located?
    The property is located at 316 N Main Street Seneca, IL.
    What is the asking price?
    The asking price for this property is $359,000.
    What are key features of this property?
    This property features: Established bar & grill in downtown Seneca, IL, offering immediate investment potential.; Features a beer garden with a covered patio, plus indoor seating.; Updated bar area with multiple TV screens, a dining area, and a gaming room.
    (815) 942-1133
    We can help!
    Listing Contact
    Philip Howell
    Philip Howell
    Real Estate License ID: 475119140
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!