Restaurant and Outdoor Beer
101 Mill St & 111 W Canal St, North Utica, IL 61373
For Sale
Contact for pricing
Renovated dining and event space pairs with a separately sited outdoor venue equipped for bar service and live performances.
Property Size4,748 SF
Price / SF$179.02
Days on Market40
Property Features for 101 Mill St & 111 W Canal St
General Information
Standard status
Size
Property subtype
Zoning
Financials
Asking Price
Business Included
Site & Location
Highway Access
Road Access
Restaurant
Seating Capacity
Patio
Equipment Included
Additional Details
Furnished
Currently Operating
Building Details
Year Renovated
Buildings
Stories
Construction
Listing Agency:
EatZ Real Estate Group LLC
Listed By:
Ted Aretos · License IL #475179242
Source:
Crexi
Added: Oct 1
Changed: Nov 8
Last Checked: Nov 8 at 3:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EatZ Real Estate Group LLC
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Investment Insights
Based on property information with market context.
This offering combines a two-story masonry restaurant building dating to 1874 with a separate beer garden across the street. The 4,448-square-foot building was substantially renovated in 2019 and includes a full-service bar, 24-tap draft system, commercial kitchen, dining areas, an upstairs event space and a full basement with coolers, freezers and storage. Exposed brick and distinctive historic details remain part of the interior. The outdoor venue, built in 2021, has a bar structure, expansive decking, seating, firepits and a stage; furniture, fixtures and equipment are included.
Both properties sit in downtown Utica’s Mill Street district. The beer garden offers views of the Illinois & Michigan Canal, and Starved Rock State Park is 1.6 miles away. IL-178 and I-80 provide regional access. The restaurant property is zoned C-1 Central Business District.
The restaurant building occupies 0.06 acres, while the beer garden property covers 0.12 acres. Indoor and outdoor seating is reported at 116 and 204, respectively, with a 250-guest capacity at the beer garden. A modified gross lease option is also described, with terms negotiable.
Both properties sit in downtown Utica’s Mill Street district. The beer garden offers views of the Illinois & Michigan Canal, and Starved Rock State Park is 1.6 miles away. IL-178 and I-80 provide regional access. The restaurant property is zoned C-1 Central Business District.
The restaurant building occupies 0.06 acres, while the beer garden property covers 0.12 acres. Indoor and outdoor seating is reported at 116 and 204, respectively, with a 250-guest capacity at the beer garden. A modified gross lease option is also described, with terms negotiable.
Key Highlights
- 1874 two‑story masonry restaurant building, substantially renovated in 2019
- 4,448‑square‑foot restaurant building with full basement, commercial kitchen and upstairs event space
- Full‑service bar with a 24‑tap draft system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,331
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,266,620
$1.3M
Cap Rate 7%
$904,729
$904.7K
Cap Rate 9%
$703,678
$703.7K
Market Conditions
NOI Build-Up for 4,748 SF
Gross rent
$90.0K $18.96/SF
− Vacancy
−$5.6K −$1.18/SF
EGI
$84.4K $17.78/SF
− OpEx
−$21.1K −$4.45/SF
NOI
$63.3K $13.34/SF
Area
LaSalle, IL
La Salle County, LA
Vacancy
6.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,266,620
Cap Rate 7%
$904,729
Cap Rate 9%
$703,678
Alternative Uses
Best Use
Specialty Retail
$904.7K
$791.6K – $1.06M
NOI $63,331 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,185 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61373, IL
1,976
Population
930
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
96%
High-School Grad
47.0 sq mi
ZIP Area
42
Density / Sq Mi
$102,639
Median Household Income
$52,708
Median Earnings
$1,310
Median Rent
$222,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated dining and event space pairs with a separately sited outdoor venue equipped for bar service and live performances.
Where is this conventional restaurant located?
The property is located at 101 Mill St & 111 W Canal St North Utica, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 1874 two‑story masonry restaurant building, substantially renovated in 2019; 4,448‑square‑foot restaurant building with full basement, commercial kitchen and upstairs event space; Full‑service bar with a 24‑tap draft system
