309 Walnut St Oglesby, IL 61348-1205
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.
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ATM Atm
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Mr. Salsa's, Inc. Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.