Bar & Grill with Outdoor
For Sale
$799,000
707 Freeport Road, Sterling, IL 61081
A furnished hospitality property combines dining, gaming, and food-service areas with a fully outfitted commercial kitchen.
Property Size5,955 SF
Price / SF$134.17
Days on Market144
Property Features for 707 Freeport Road
General Information
Standard status
Active
Size
5,955 SF
Property subtype
Commercial
Restaurant
Commercial Hood
Yes
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$6,282
Building Details
Building Size
5,955 SF
Year Built
1981
Stories
1
Units
1
Listing Agency:
RE/MAX Sauk Valley
Listed By:
Selznick Garcia
(815) 625-3722
Source:
Fishmangroup
Added: Jun 4
Changed: Oct 23
Last Checked: Oct 23 at 1:23PM
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 Sauk Valley
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,955-square-foot bar and grill, built in 1981, includes a main dining room with booth, table, and bar seating, plus a separate gaming room with gaming machines and pool tables. The commercial kitchen is equipped with a hood system, walk-in cooler, freezer, fryers, griddle, broiler, refrigerated prep equipment, stainless-steel work surfaces, and an ice machine. Other improvements include a liquor room, office and camera room, employee restroom, fireplace, and basement storage with sump pumps. Heating and cooling are provided by five furnaces, central air conditioning, and two mini-split units.
An outdoor patio measures approximately 29' x 35'. The property also has approximately 50+ parking spaces and a large rear lot. Furniture, equipment, inventory, and stocked liquor and food supplies are included in the sale.
An outdoor patio measures approximately 29' x 35'. The property also has approximately 50+ parking spaces and a large rear lot. Furniture, equipment, inventory, and stocked liquor and food supplies are included in the sale.
Key Highlights
- 5,955‑square‑foot bar and grill built in 1981
- Outdoor patio measuring approximately 29' x 35'
- Commercial kitchen includes an approximately 18 foot hood system, walk‑in cooler, freezer, fryers, griddle, and broiler
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,544
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,880
$590.9K
Cap Rate 7%
$422,057
$422.1K
Cap Rate 9%
$328,267
$328.3K
Market Conditions
NOI Build-Up for 5,955 SF
Gross rent
$44.7K $7.50/SF
− Vacancy
−$2.5K −$0.41/SF
EGI
$42.2K $7.09/SF
− OpEx
−$12.7K −$2.13/SF
NOI
$29.5K $4.96/SF
Area
Whiteside County, IL
Vacancy
5.50%
Lease Rate
$7.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,880
Cap Rate 7%
$422,057
Cap Rate 9%
$328,267
Alternative Uses
Best Use
Specialty Retail
$1.11M
$974.8K – $1.30M
NOI $77,981 @ 7.0% cap · market cap 9.76%
Second Best
Industrial
$422.1K
$369.3K – $492.4K
NOI $29,544 @ 7.0% cap · market cap 3.70%
Theoretical Best
—
—
same as Best Use
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
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
66k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 24%
Apparel 14%
Beauty & Spa 2%
McDonald's
Dining
26,437 visits/mo
0.2 miles
Goodwill
Apparel
9,177 visits/mo
0.1 miles
Shell
Shops & Services
9,003 visits/mo
0.2 miles
Wendy's
Dining
7,813 visits/mo
0.3 miles
Phillips 66
Shops & Services
6,570 visits/mo
0.1 miles
Demographics for 61081, IL
21,064
Population
9,753
Households
2.2
Avg Household Size
43
Median Age
20%
College-Educated
91%
High-School Grad
124.4 sq mi
ZIP Area
169
Density / Sq Mi
$60,854
Median Household Income
$40,497
Median Earnings
$791
Median Rent
$121,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Pabst Blue Ribbon — sterling, il 61081
- Chuck Wagon Saloon — 1201 E 4th St, Sterling, IL 61081
- Palms — 1209 E 4th St, Sterling, IL 61081
- Chucks Grub — 1203 E 4th St, Sterling, IL 61081
- Whoop Your Axe — 2317 E Lincolnway unit C, Sterling, IL 61081
Frequently Asked Questions
What type of property is this?
Bar & Pub - A furnished hospitality property combines dining, gaming, and food-service areas with a fully outfitted commercial kitchen.
Where is this bar & pub located?
The property is located at 707 Freeport Road Sterling, 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: 5,955‑square‑foot bar and grill built in 1981; Outdoor patio measuring approximately 29' x 35'; Commercial kitchen includes an approximately 18 foot hood system, walk‑in cooler, freezer, fryers, griddle, and broiler
