1606 TREMONT Street Spring Bay, IL 61611
COMMERCIAL - Spring Bay, IL
- Added:
- Apr 6, 2026
- Days on Market:
- 98
- Last Refresh:
- Jul 12 at 5:06 am
Property Features for 1606 TREMONT Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Standard status
- Active
- APN
- 07-01-320-004
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- T27N - R4W - S01 PT LOT 2A SW1/4 BENNETT SUBD
- Tax Annual Amount
- 3618
Utilities
- Sewer type
- Septic Tank
- Heating system
- Hot Water(Heating), Forced Air, Natural Gas
- Cooling system
- Window Unit(s), Wall/Window Unit(s), Central Air
- Water source
- Private
Building Details
- Floors in Building
- 1
- Flooring type
- Concrete, Tile
- Building materials
- Wood Siding, Frame
- Roof type
- Membrane
Listing agent Carol Rapp (309) 696-8683
Listing office Gallery Homes Real Estate 8320 N Jackson St, Peoria Heights, IL (309) 689-1406
Listing date Apr 6, 2026
Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property includes outdoor seating areas in front and along the side/rear of the building, plus an additional storage shed for convenience. Zoning is listed as Commercial, supporting restaurant and retail-style operations within the existing setup.
This offering is presented as ready for immediate ownership, with carryout, walk-up service, and retail/gift sales facilitated by the on-site improvements described above.
Key Highlights
- 830 sq ft building operating as a fully equipped pizza and ice cream business
- Includes pizza oven and ice cream equipment, plus a fully equipped kitchen
- Original walk‑up service windows and a waitress/check‑out station with dedicated gift shop space
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.5k | $15.00 |
| − Vacancy | −$872 | −$1.05 |
| EGI | $11.6k | $13.95 |
| − OpEx | −$2.9k | −$3.49 |
| NOI | $8.7k | $10.46 |
