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    309 Walnut St Oglesby, IL 61348

    Sponsored
    For Sale
    $275,000

    Turnkey Restaurant, High Traffic Area, Great Potential

    Property size:
    5,544 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional mixed-use property at 309 E Walnut Street, Oglesby, IL, presents a unique investment opportunity. The 5,544 square foot building is ideally situated on busy Route 178, offering easy access to Interstate 39 (less than 3 miles away) and proximity to Starved Rock State Park, ensuring high visibility and foot traffic. Currently operating as a successful restaurant, the property boasts a spacious layout including a bar area with seating for 15, two separate dining areas perfect for private events, and an inviting outdoor patio. A dedicated gaming section adds to the entertainment options. The fully equipped kitchen and dining areas are ready for immediate operation, with all furnishings and fixtures included in the sale price of $275,000. The building also features a significant advantage: a private parking lot accommodating over 20 vehicles – a rare find in Oglesby. Upstairs, two bedrooms and 1.5 bathrooms offer potential for a rentable living space, further enhancing the property's income potential with the addition of a small kitchenette. This turnkey restaurant presents a lucrative opportunity for aspiring restaurateurs or investors seeking a high-traffic commercial property with substantial growth potential. Don't miss this chance to own a well-established business in a prime Oglesby location.

    Property Features for 309 Walnut St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    5,544 SF

    Building Details

    Year Built
    1909
    Property Profile Location Intelligence

    Current Use by Public Records

    ATM Atm Mr. Salsa's, Inc. Mexican Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Oglesby
    County
    LaSalle
    State
    Illinois
    Longitude
    -89.05571
    Latitude
    41.29491

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Mixed-use property - Turnkey Restaurant, High Traffic Area, Great Potential
    Where is this mixed-use property located?
    The property is located at 309 Walnut St Oglesby, IL.
    What is the asking price?
    The asking price for this property is $275,000.
    (708) 320-0002
    Request Owner's contact information
    309 Walnut St Oglesby, IL 61348
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    Oglesby, IL 61348
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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
    309 Walnut St Oglesby, IL 61348
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