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    2249 3Rd St Springfield, IL 62702

    For Sale
    $159,900

    Established Springfield eatery, fully renovated, great potential.

    Property size:
    1,910 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional Springfield, IL commercial property, located at 2249 N 3rd Street, presents a unique opportunity for a savvy investor or restaurateur. The 1,910 square foot building sits on a half-acre lot and boasts a rich history as the former Delaney's Smokehouse, a beloved local establishment. Recent extensive renovations have transformed the property, including a completely upgraded roof, flooring, plumbing, HVAC system, and a state-of-the-art Ansul hood system in the commercial kitchen. The layout is ideal, featuring a well-appointed bar and dining area, a dedicated gaming section, two restrooms, a fully equipped commercial kitchen with a prep area, and a convenient walk-in cooler. Outside, an approved patio area is ready for development as a beer garden, and ample open yard space offers possibilities for horseshoe pits or other recreational amenities. Adding to the property's value is a 20.5 x 10.75 foot shed, included in the sale. The property benefits from a robust security and monitoring system. This turnkey operation is priced at $159,900 and is ready for immediate occupancy. Serious inquiries only.

    Property Features for 2249 3Rd St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,910 SF
    Lot Size
    21,780 SF

    Building Details

    Year Built
    1954
    Insight Report Location Intelligence

    Current Use by Public Records

    Delaney's Smokehouse American Restaurant

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness Daycare Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.65227
    Latitude
    39.83229

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    FAQs

    What type of property is this?
    Commercial real estate - Established Springfield eatery, fully renovated, great potential.
    Where is this commercial real estate located?
    The property is located at 2249 3Rd St Springfield, IL.
    What is the asking price?
    The asking price for this property is $159,900.
    Request Owner's contact information
    2249 3Rd St Springfield, IL 62702
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    Springfield, IL 62702
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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
    2249 3Rd St Springfield, IL 62702
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