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    318 3Rd St Geneva, IL 60134

    Sponsored
    For Sale
    $2,300,000

    Turnkey Restaurant/Event Space, 6660 SF

    Property size:
    6,660 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 6,660-square-foot commercial property is located at 318 S 3rd Street in the heart of Geneva, Illinois, a highly desirable dining, shopping, and entertainment destination. Completely renovated and expanded in 2000 by Hogan Design & Construction, this building boasts superior quality and attention to detail. The property features a fully updated mechanical system (HVAC/AC, plumbing, electrical, and roof), all less than five years old. A rare find in downtown Geneva, a three-level elevator services all floors. Additional key features include a state-of-the-art sound system, a sprinkler system, and full ADA compliance. The building offers three private meeting rooms, an event room, and four public restrooms. Two outdoor patio spaces and professionally landscaped gardens enhance the property's appeal. A chef's dream commercial kitchen is equipped with an 18-foot industrial hood, walk-in freezer/refrigeration, and ample storage. The expansive basement includes elevator access, exterior access, a food-grade storage area, a breakroom, and a draught system. A highly sought-after second-floor event space provides additional seating capacity for parties, gatherings, or other events. This turnkey property presents a unique opportunity to establish a thriving business in Geneva, consistently ranked among the best communities in the western suburbs. All major renovations have been completed, allowing a seamless transition for the new owner.

    Property Features for 318 3Rd St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,660 SF

    Building Details

    Year Built
    1918
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Geneva
    County
    Kane
    State
    Illinois
    Longitude
    -88.30909
    Latitude
    41.88426

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    FAQs

    What type of property is this?
    Commercial real estate - Turnkey Restaurant/Event Space, 6660 SF
    Where is this commercial real estate located?
    The property is located at 318 3Rd St Geneva, IL.
    What is the asking price?
    The asking price for this property is $2,300,000.
    (630) 935-8400
    Request Owner's contact information
    318 3Rd St Geneva, IL 60134
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    Geneva, IL 60134
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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
    318 3Rd St Geneva, IL 60134
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