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    220 5Th St Delavan, IL 61734

    Sponsored
    For Sale
    $180,000

    10-lane bowling alley, 8,976 sq ft, huge potential.

    Property size:
    8,976 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    Exceptional investment opportunity awaits with this 8,976 square foot, ten-lane bowling alley located at 220 E 5th St, Delavan, IL 61734. The property is being offered at $180,000 and presents a unique chance to acquire a ready-to-reopen business. All ten bowling lanes and their mechanical systems are fully operational, requiring only cosmetic updates to restore the facility to its former glory. The existing kitchen needs modernization to meet the needs of a new owner. Significant upside potential exists with the possibility of obtaining a liquor license and introducing gaming options on-site. A large fenced lot provides ample space for outdoor expansion, such as a patio area, or even an addition to the existing building. Furthermore, there's a strong possibility of securing TIF (Tax Increment Financing) funds in May to assist with renovations or expansion projects. This property offers a compelling blend of established infrastructure and significant growth potential, making it an ideal acquisition for an ambitious entrepreneur. Don't miss this chance to own a piece of Delavan's history and shape its future.

    Property Features for 220 5Th St

    General Information

    Property type
    Investment properties
    Square Feet
    8,976 SF

    HighLights

    • Asking price: $180,000.
    • 8,976 square foot building included in sale.
    • 10‑lane bowling alley with functional equipment, ready for cosmetic improvements and reopening.
    • Existing kitchen needs updating.
    • Potential for on‑site liquor license and gaming.
    • Large fenced lot ideal for patio or building expansion; potential TIF funding available in May for renovations or expansion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Delavan
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.5453188
    Latitude
    40.3710966

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    FAQs

    What type of property is this?
    Investment property - 10-lane bowling alley, 8,976 sq ft, huge potential.
    Where is this investment property located?
    The property is located at 220 5Th St Delavan, IL.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: Asking price: $180,000.; 8,976 square foot building included in sale.; 10-lane bowling alley with functional equipment, ready for cosmetic improvements and reopening.
    Request Owner's contact information
    220 5Th St Delavan, IL 61734
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    220 5Th St Delavan, IL 61734
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