Listing Agency: The Real Estate Group,Inc

Listed By: Carol Meinhart · License #475127814 Show Phone

Source: Bktchicago

Added: Aug 5 Changed: Oct 11 Last Checked: Oct 7 at 2:54PM

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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 The Real Estate Group,Inc

Investment Insights

Based on property information with market context.

This established butcher shop operates as a Class II State Licensed Plant and includes a residence currently used to house employees. The facility is supported by recent refrigeration-system improvements intended to enhance operating efficiency and reliability.

The property is located in Ivesdale, Illinois, and combines the processing operation with on-site residential accommodation. Its existing licensing, specialized refrigeration, and established butcher-shop use provide a defined operating framework for a new owner or an expanding meat-processing business.

Key Highlights

• Class II State Licensed Plant
• Established butcher shop operation
• Recent refrigeration‑system upgrades

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,046

Cap Rate

6.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$660,920 $660.9K

Cap Rate 7%

$472,086 $472.1K

Cap Rate 9%

$367,178 $367.2K

Market Conditions

NOI Build-Up for 7,155 SF

Gross rent

$49.8K $6.96/SF

− Vacancy

−$2.6K −$0.36/SF

EGI

$47.2K $6.60/SF

− OpEx

−$14.2K −$1.98/SF

NOI

$33.0K $4.62/SF

Area

Champaign County, IL

Vacancy

5.20%

Lease Rate

$6.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$660,920

Cap Rate 7%

$472,086

Cap Rate 9%

$367,178

Alternative Uses

Best Use

Specialty Retail

$1.15M

$1.01M – $1.35M (±1% cap)

NOI $80,849 @ 7.0% cap · market cap 16.17%

Second Best

Retail

$864.2K

$756.2K – $1.01M (±1% cap)

NOI $60,493 @ 7.0% cap · market cap 12.10%

Theoretical Best

Office A

$1.49M

$1.30M – $1.74M (±1% cap)

NOI $104,200 @ 7.0% cap · market cap 20.84%

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

Property Analytics

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Current Use

Ivesdale Community Park Park

Suggested Use

Top Pick Storage Facility Butcher Restaurant Bar & Pub

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

Location Intelligence

Trade Area within ½ mile

24

Businesses Nearby

Explore this area Business Placement

Demographics for 61851, IL

425

Population

191

Households

2.2

Avg Household Size

44

Median Age

33%

College-Educated

94%

High-School Grad

34.0 sq mi

ZIP Area

13

Density / Sq Mi

$58,981

Median Household Income

$50,833

Median Earnings

$950

Median Rent

$136,600

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this manufacturing properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Manufacturing property - Established meat-processing facility with upgraded refrigeration and an on-site employee residence.

Where is this manufacturing property located?

The property is located at 304 Chapin St Ivesdale, IL.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Class II State Licensed Plant; Established butcher shop operation; Recent refrigeration‑system upgrades