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    117 W Prairie Street Jerseyville, IL 62052

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    Claim this Listing
    New
    For Sale
    Under Contract
    $425,000

    Business - Jerseyville, IL

    Type:Business
    Property size:
    7,420 SF
    Lot size:
    0.27 Acres
    Price / SF:
    $57/SF
    Added:
    May 4, 2026
    Days on Market:
    2
    Last Refresh:
    May 5 at 2:06 pm

    Property Features for 117 W Prairie Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Parking features
    Off Street
    Standard status
    Active Under Contract
    APN
    04-759-006-00
    Size
    7,420 SF
    Lot size
    0.27 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    8567

    Utilities

    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1985
    Flooring type
    Tile, Tile - Ceramic, Vinyl
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Tina McEvers

    Listing agent Tina McEvers License #475162342

    Listing office Tarrant and Harman Real Estate and Auction Co 3644 Fosterburg Rd., Alton, IL

    Listing date May 4, 2026

    MLS# 26024034 Listing URL

    Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Established Bar and Grill Business

    This established bar and grill, currently operating as DJ’s Bar and Grill, is ideally located in the heart of Jerseyville. The property, with nearly 7,500 sq. ft., offers a flexible layout suitable for daily dining and large private events. The main bar and dining area provide direct access to a fenced, stamped concrete patio for additional seating. A separate gaming room offers added entertainment space, and a secondary dining area accommodates overflow seating or intimate gatherings. The fully equipped kitchen is set up for high-volume service and includes a six-burner gas cooktop, flat-top grill, additional grill space, multiple deep fryers, a walk-in cooler, prep stations, and commercial cleaning areas. Additional utility and storage rooms support operations. An expansive banquet hall, complete with its own bar and a small stage, is ideal for live music, receptions, parties, and community events. The property also includes two women’s restrooms and two men’s restrooms, along with dedicated storage for chairs and event supplies, and an office area. Ample parking is available with two city-owned public lots located within a block. With multiple revenue opportunities, indoor and outdoor seating, and a layout built for both daily operations and special events, this is a turnkey opportunity with strong potential for continued success. The property is situated on a 0.2702-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Jem Bar — 121 W Pearl St, Jerseyville, IL 62052
    • Tracy's Saloon — 04-661-001-00, jerseyville, il 62052
    • TRACEY'S SALOON — 901 IL-109, Jerseyville, IL 62052
    • Tri-County Bowl — 207 Krause Dr, Jerseyville, IL 62052
    • Axe & Ale — 806 Tri Point Ln., Jerseyville, IL 62052

    Location Insight

    • Map
    • Local Demand
    City
    Jerseyville
    County
    Jersey
    State
    Illinois
    Longitude
    -90.3273621
    Latitude
    39.1177614

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    FAQs

    What type of property is this?
    Bar & Pub - Turnkey bar and grill in the heart of Jerseyville.
    Where is this bar & pub located?
    The property is located at 117 W Prairie Street Jerseyville, IL.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Turnkey bar and grill with multiple revenue streams; Expansive 7,500 sq. ft. property with a flexible layout, including main bar/dining, secondary dining, gaming room, and banquet hall with stage and bar; Fully equipped, high‑volume commercial kitchen features a gas cooktop, flat‑top grill, multiple fryers, walk‑in cooler, and prep stations
    (618) 535-1059
    We can help!
    Listing Contact
    Tina McEvers
    Real Estate License ID: 475162342
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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