Building Details

Year Built 1839

Stories 3

Listing Agency: Coldwell Banker Commercial Brown, Realtors Godfrey

Listed By: Elaine Rhodes · License #IL

Source: Crexi

Added: Apr 11 Changed: Aug 21 Last Checked: Aug 29 at 2:13PM

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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 Commercial Brown, Realtors Godfrey

Investment Insights

Based on property information with market context.

This turn-key restaurant and bar sale includes extensive updates throughout, along with a front bar featuring wood floors and quarry tile. The kitchen is equipped with updated gas cooking, including a new Vulcan convection oven, chargrill, and flat top, plus a self-cleaning Turbo Air cold prep area. Additional improvements include a 10' Captiva Aire hood with heated makeup air, a 6' x 8' walk-in cooler, updated beverage air and water heaters, infrared food warmer, and new roofs. The roof HVAC includes a new 3T unit with a condensing unit for the walk-in refrigerator, and there is also a storage area.

The property is located in downtown Alton and is described as a unique 1839 building that was part of the Franklin House. The back seating area includes refinished floors, a bar area, and new booths, tables, and chairs. Above the front bar, there is additional seating overlooking the bar, and the third floor offers potential for a loft with original wood floors. The offering includes 2 parcels/buildings.

The layout supports front and back dining with a dedicated bar and an upper seating area, supported by the updated kitchen and refrigeration systems.

Key Highlights

• Turn‑key restaurant/bar with updated kitchen equipment and multiple seating areas in a historic 1839 building
• Kitchen includes updated gas cooking with a new Vulcan convection oven, chargrill, and flat top
• Includes 6' x 8' walk‑in cooler plus a 10' Captiva Aire hood with heated makeup air

Property Analytics

Property Profile

Current Use

Pro Ottumwa Dumpsters ... Waste Management Facility Cigar Shop (Bike/Boat/Book/etc) Store Bentley's Bar & Grill Bar & Pub Gatsby's Grille Restaurant

Suggested Use

Top Pick Real Estate Agency Pharmacy Parking Lot & Garage Kitchen & Bath Showroom Storage Facility Electrical Service

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

Commercial hood

Location Intelligence

Trade Area within ½ mile

690

Businesses Nearby

3k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 100%

Morrison's Irish Pub Dining

2,177 visits/mo 0.1 miles

Ragin Cajun Dining

814 visits/mo 0.1 miles

Demographics for 62002, IL

30,176

Population

14,832

Households

2

Avg Household Size

41

Median Age

24%

College-Educated

92%

High-School Grad

41.3 sq mi

ZIP Area

731

Density / Sq Mi

$57,851

Median Household Income

$38,120

Median Earnings

$941

Median Rent

$114,300

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

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Turn-key restaurant/bar sale with updated kitchen equipment, new HVAC, and multiple seating areas in a historic building.

Where is this conventional restaurant located?

The property is located at 204 State Street Alton, IL.

What are key features of this property?

This property features: Turn‑key restaurant/bar with updated kitchen equipment and multiple seating areas in a historic 1839 building; Kitchen includes updated gas cooking with a new Vulcan convection oven, chargrill, and flat top; Includes 6' x 8' walk‑in cooler plus a 10' Captiva Aire hood with heated makeup air