Freestanding Restaurant and
230 Conference Center Drive East Peoria East Peoria, IL 61611
230 Conference Center Drive East Peoria, East Peoria, IL, 61611
$3,500,000
For Sale
$3,500,000
Custom-built restaurant with an open-view brewery tank area, open-view kitchen, mezzanine, and outdoor river-view seating.
Property Size9,135 SF
Price / SF$383.14
Days on Market9
Property Features for 230 Conference Center Drive East Peoria
General Information
- Standard status
- Active
- Size
- 9,135 SF
Building Details
- Year Built
- 2007
Listing agency
RE/MAX Traders Unlimited
(309) 722-1612
Listed by
Justin Ball · License #475175281
(309) 722-1612
Source
Realestatepeoria
Added: Jul 14 Updated: Jul 21 at 2:02PM Checked: Jul 22 at 2:35AM
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 RE/MAX Traders Unlimited
Investment Insights
Based on property information with market context.
This custom-built, free-standing restaurant building totals 9,135 SF and was constructed as an upscale casual concept with an open-view brewery tank area and open-view kitchen. The facility includes a 510 SF mezzanine above the brewery equipment and an outdoor river-view seating area measuring 1,850 SF.
The property is located in East Peoria, IL, at 230 Conference Center Drive, and benefits from ample on-site surface parking with a parking ratio of 8.76 per 1,000 SF. The adjacent area continues to develop, including a 2026 Hampton Inn next door at 220 Conference Center Dr.
For development and redevelopment incentives, the property is located in both a TIF and Enterprise Zone.
The property is located in East Peoria, IL, at 230 Conference Center Drive, and benefits from ample on-site surface parking with a parking ratio of 8.76 per 1,000 SF. The adjacent area continues to develop, including a 2026 Hampton Inn next door at 220 Conference Center Dr.
For development and redevelopment incentives, the property is located in both a TIF and Enterprise Zone.
Key Highlights
- 9,135 SF custom‑built, free‑standing restaurant originally Granite City Food & Brewery (built in 2007)
- Open‑view brewery tank area plus open‑view kitchen
- 510 SF mezzanine above the brewery equipment
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 | $155.7k | $17.04 |
| − Vacancy | −$9.7k | −$1.06 |
| EGI | $146.0k | $15.98 |
| − OpEx | −$36.5k | −$4.00 |
| NOI | $109.5k | $11.99 |
9,135 SF · lease $17.04/SF/yr · vacancy 6.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.56M
$1.37M – $1.83M
NOI $109,507 @ 7.0% cap · market cap 3.13%
Second Best
Industrial
$666.2K
$582.9K – $777.3K
NOI $46,635 @ 7.0% cap · market cap 1.33%
Theoretical Best
Multifamily LT 5
$7.99M
$6.99M – $9.32M
NOI $559,385 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Custom-built restaurant with an open-view brewery tank area, open-view kitchen, mezzanine, and outdoor river-view seating.
Where is this conventional restaurant located?
The property is located at 230 Conference Center Drive East Peoria East Peoria, IL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 9,135 SF custom‑built, free‑standing restaurant originally Granite City Food & Brewery (built in 2007); Open‑view brewery tank area plus open‑view kitchen; 510 SF mezzanine above the brewery equipment
