114-118 Argentina Ave, Bartonville, IL 61607

Building Details

Year Built 1950 More

Listing Agency: Coldwell Banker Real Estate Group

Listed By: Kelly Rupp · License IL #471016821 Show Phone

Source: Searchillinoishomesforsale

Added: Apr 10 Changed: Nov 7 Last Checked: Nov 10 at 12:22PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Real Estate Group

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Investment Insights

Based on property information with market context.

This established bar property includes the building, garage, furniture, fixtures, and equipment. The interior supports dart and pool leagues and includes gaming machines, with a spacious layout that allows seating flexibility near the dart area. Numerous updates have been completed, and the property was built in 1950.

Located at 114-118 Argentina Avenue in Bartonville, the property fronts Route 24 and sits across from a large employer. Commercial zoning supports its current bar use. The included FF&E and on-site garage provide a substantial operating package for a new owner.

Key Highlights

• Building, garage, furniture, fixtures, and equipment included
• Dart and pool league areas with gaming machines
• Numerous property updates completed

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,494

Cap Rate

5.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$429,880 $429.9K

Cap Rate 7%

$307,057 $307.1K

Cap Rate 9%

$238,822 $238.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,793 SF

Gross rent

$30.6K $17.04/SF

− Vacancy

−$1.9K −$1.06/SF

EGI

$28.7K $15.98/SF

− OpEx

−$7.2K −$4.00/SF

NOI

$21.5K $11.99/SF

Area

Peoria County, IL

Vacancy

6.20%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$429,880

Cap Rate 7%

$307,057

Cap Rate 9%

$238,822

Alternative Uses

Best Use

Specialty Retail

$307.1K

$268.7K – $358.2K (±1% cap)

NOI $21,494 @ 7.0% cap · market cap 5.37%

Second Best

—

—

no second resolved use

Theoretical Best

Apartment 5plus

$1.38M

$1.21M – $1.61M (±1% cap)

NOI $96,715 @ 7.0% cap · market cap 24.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Bars & Pubs

Suggested Use

Top Pick Law Firm Real Estate Agency Auto Parts Store Dental Office (Bike/Boat/Book/etc) Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

233

Businesses Nearby

10k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Mobil Shops & Services

10,230 visits/mo 0.4 miles

Demographics for 61607, IL

10,353

Population

4,887

Households

2.1

Avg Household Size

45

Median Age

25%

College-Educated

96%

High-School Grad

33.6 sq mi

ZIP Area

308

Density / Sq Mi

$75,845

Median Household Income

$51,691

Median Earnings

$1,014

Median Rent

$155,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar Off Market Nearby

• Backroads Saloon — 4208 W Pfeiffer Rd, Bartonville, IL 61607
• B.G. Karaoke Saloon — 4202 W Pfeiffer Rd, Bartonville, IL 61607
• Shot Spot Pub — 118 Argentina Ave, Bartonville, IL 61607
• Peacocks Pub — 5603 S Adams St, Bartonville, IL 61607
• Hammer's Bar & Restaurant — 103 Roosevelt St, Bartonville, IL 61607

Frequently Asked Questions

What type of property is this?

Bar & Pub - Established bar with a garage, gaming machines, and dedicated areas for dart and pool leagues.

Where is this bar & pub located?

The property is located at 114-118 Argentina Ave Bartonville, IL.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: Building, garage, furniture, fixtures, and equipment included; Dart and pool league areas with gaming machines; Numerous property updates completed