Licensed Butcher Shop Manufacturing
For Sale
$499,900
304 Chapin St, Ivesdale, IL 61851
Established meat-processing facility with upgraded refrigeration and an on-site employee residence.
Property Size7,155 SF
Price / SF$69.87
Days on Market26
Property Features for 304 Chapin St
General Information
Standard status
Active
Size
7,155 SF
Property subtype
Business Opportunity
Additional Details
Business Included
Yes
Listing Agency:
The Real Estate Group,Inc
(217) 898-9204
Listed By:
Carol Meinhart · License #475127814
Source:
Bktchicago
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 25 at 4:08AM
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,046
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $80,849 @ 7.0% cap · market cap 16.17%
Second Best
Retail
$864.2K
$756.2K – $1.01M
NOI $60,493 @ 7.0% cap · market cap 12.10%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,200 @ 7.0% cap · market cap 20.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
