Building Details

Year Built 2021

Buildings 1

Stories 2

Construction brick

Listing Agency: RE/MAX Top Properties

Listed By: Philip Howell · License #475119140 Show Phone

Source: Liveliferealty

Added: Jul 30 Changed: Sep 2 Last Checked: Oct 7 at 5:34PM

Report an Issue

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 Top Properties

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Built in 2021, this 5,708-square-foot restaurant features brick construction and an extensive package of professional restaurant equipment included with the property. The interior includes a gaming section, multiple bar areas, and a second-floor office/apartment configuration.

The property is located at 403 N Main St in Wilmington, Illinois, near Rt 66. Ample parking supports the restaurant layout and its existing customer-oriented improvements. The property is bank owned and offered for sale.

Key Highlights

• 5,708‑square‑foot restaurant property built in 2021
• Brick construction with extensive professional restaurant equipment included
• Gaming section and multiple bar areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$68,207

Cap Rate

8.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,364,140 $1.4M

Cap Rate 7%

$974,386 $974.4K

Cap Rate 9%

$757,856 $757.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,708 SF

Gross rent

$97.3K $17.04/SF

− Vacancy

−$6.3K −$1.11/SF

EGI

$90.9K $15.93/SF

− OpEx

−$22.7K −$3.98/SF

NOI

$68.2K $11.95/SF

Area

Will County, IL

Vacancy

6.50%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,364,140

Cap Rate 7%

$974,386

Cap Rate 9%

$757,856

Alternative Uses

Best Use

Specialty Retail

$974.4K

$852.6K – $1.14M (±1% cap)

NOI $68,207 @ 7.0% cap · market cap 8.54%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,620 @ 7.0% cap · market cap 11.34%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Electrical Service (Bike/Boat/Book/etc) Store Garden Center Furniture & Home Goods Carpet & Flooring Store Butcher

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

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

406

Businesses Nearby

16k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 85% Dining 15%

Shell Shops & Services

5,933 visits/mo 0.4 miles

Mobil Shops & Services

4,843 visits/mo 0.3 miles

U.S. Bank Shops & Services

2,292 visits/mo 0.1 miles

SUBWAY Dining

1,527 visits/mo 0.3 miles

Pizza Hut Dining

902 visits/mo 0.2 miles

Demographics for 60481, IL

11,518

Population

5,553

Households

2.1

Avg Household Size

46

Median Age

17%

College-Educated

92%

High-School Grad

123.5 sq mi

ZIP Area

93

Density / Sq Mi

$76,398

Median Household Income

$45,563

Median Earnings

$975

Median Rent

$224,800

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

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Two-story restaurant with professional equipment, gaming area, multiple bars, and ample parking.

Where is this conventional restaurant located?

The property is located at 403 N Main St Wilmington, IL.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: 5,708‑square‑foot restaurant property built in 2021; Brick construction with extensive professional restaurant equipment included; Gaming section and multiple bar areas