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    7642 Grain Bin Rd Toulon, IL 61483

    For Sale
    $410,000

    Spacious Event Venue, Ample Parking

    Property size:
    6,400 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional 6,400-square-foot commercial property, situated on 6.77 acres of land in Toulon, Illinois, presents a remarkable opportunity. Currently utilized as a successful event center, this versatile building offers a multitude of potential uses. The main structure features a large 50x100-foot open space with a capacity for 300 guests, perfect for weddings, auctions, banquets, and graduations. A 50x28-foot loft provides additional space, while a fully equipped 15x20-foot commercial kitchen includes a commercial stove, double oven, vent hood, three-basin sink, double stainless-steel refrigerator and freezer, double fryer, grease trap, and handwashing sink. Two well-appointed restrooms (one women's with three stalls and one men's with two urinals and two stalls) each boast double sinks, counters, ceramic tile floors, and wainscoting. A 14x16-foot office provides administrative space. The building is equipped with city water, a septic system, an electric water heater, and an LP tank (owned by Michlig). The 6-inch concrete floor incorporates radiant heat, supplemented by LP ventless radiant ceiling heat. Access is provided by a large 12x14-foot insulated overhead door. The building also boasts 9-foot insulated side walls and a 200-amp electrical service. Two additional sheds are located on the property. The property is conveniently located on a paved county road just east of Toulon, off Route 17, and offers ample gravel parking. The property is zoned AG-1 Special Use.

    Property Features for 7642 Grain Bin Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,400 SF
    Lot Size
    294,901 SF

    Building Details

    Year Built
    2016
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Wholesale Shop Hotel & Motel Bar & Pub Bed & Breakfast Pawn Shop Parking Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Toulon
    County
    Stark
    State
    Illinois
    Longitude
    -89.83813
    Latitude
    41.0905

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    FAQs

    What type of property is this?
    Commercial real estate - Spacious Event Venue, Ample Parking
    Where is this commercial real estate located?
    The property is located at 7642 Grain Bin Rd Toulon, IL.
    What is the asking price?
    The asking price for this property is $410,000.
    Request Owner's contact information
    7642 Grain Bin Rd Toulon, IL 61483
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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
    7642 Grain Bin Rd Toulon, IL 61483
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