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    1606 Tremont St Spring Bay, IL 61611

    Sponsored
    For Sale
    $159,900

    Turnkey Restaurant Business for Sale

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional turnkey business opportunity in Spring Bay, Illinois, presents a beautifully updated building situated on well-maintained grounds at 1606 TREMONT Street, East Peoria, IL 61611. Currently operating as a thriving pizza and ice cream parlor, this property offers a complete package including the building, land, and all necessary equipment. The asking price of $159,900 represents a compelling investment in a well-established, profitable venture. The property is conveniently located in the Village of Spring Bay, offering easy access for customers and excellent visibility. The attractive building and grounds contribute to the overall appeal and success of the business. This is an ideal opportunity for an experienced restaurateur looking to acquire an established business with immediate revenue potential or for a first-time buyer seeking a turnkey operation. The sale includes all existing equipment, allowing for a seamless transition and immediate commencement of operations. The property's location in the Village of Spring Bay provides a strong foundation for continued success. This is a rare opportunity to acquire a profitable, established business with significant upside potential. The property is zoned for commercial use and is ready for immediate occupancy. Serious inquiries only.

    Property Features for 1606 Tremont St

    General Information

    Property type
    Restaurants

    HighLights

    • $159,900 asking price.
    • Land and retail property in East Peoria, IL.
    • Includes building, land, and equipment.
    • Currently operating restaurant (pizza and ice cream).
    • Located in Spring Bay, IL (61611).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Spring Bay
    County
    Woodford
    State
    Illinois
    Longitude
    -89.5214321
    Latitude
    40.8216485

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    FAQs

    What type of property is this?
    Restaurant - Turnkey Restaurant Business for Sale
    Where is this restaurant located?
    The property is located at 1606 Tremont St Spring Bay, IL.
    What is the asking price?
    The asking price for this property is $159,900.
    What are key features of this property?
    This property features: $159,900 asking price.; Land and retail property in East Peoria, IL.; Includes building, land, and equipment.
    Request Owner's contact information
    1606 Tremont St Spring Bay, IL 61611
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    Spring Bay, IL 61611
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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
    1606 Tremont St Spring Bay, IL 61611
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