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    614 Broadway St Lincoln, IL 62656

    Sponsored
    For Sale
    $250,000

    Downtown Lincoln eatery, renovated, $250,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial property, located at 614 BROADWAY Street in Lincoln, Illinois (zip code 62656), presents a unique investment opportunity. Priced at $250,000, this building is currently occupied by a restaurant that has been operating successfully for several years. The structure itself has undergone a complete and extensive renovation, leaving no detail overlooked. The interior boasts a welcoming entry area, a spacious and elegantly designed open-concept dining area featuring attractive tin ceilings and high-quality fixtures. A well-equipped prep area, a large kitchen, two separate bathrooms, ample storage space, and updated mechanical systems are all included. Rich cherry wood finishes add to the sophisticated ambiance throughout. The building has been home to the current restaurant since 2018, and the business has a long history in the community, having operated for 54 years. While the asking price is for the building only, the seller is open to discussions regarding the sale of the existing restaurant's personal property at an increased price. The only exceptions are one dough proofing bowl and an oval dining table. This property offers immense potential for a variety of commercial uses, and all reasonable offers will be considered. The property is situated in downtown Lincoln, providing excellent visibility and accessibility. This is a rare chance to acquire a beautifully renovated commercial building in a prime location.

    Property Features for 614 Broadway St

    General Information

    Property type
    Restaurants

    HighLights

    • $250,000 asking price for the building only.
    • Downtown Lincoln, IL location at 614 Broadway Street, 62656.
    • Extensively renovated interior with open concept dining space, kitchen, two baths, and storage.
    • Building housed a restaurant for five years; business and personal property may be available for separate negotiation.
    • All reasonable offers considered.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sorrento's Pizzeria - Lincoln Pizza Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Logan
    State
    Illinois
    Longitude
    -89.3617036
    Latitude
    40.1467604

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    FAQs

    What type of property is this?
    Restaurant - Downtown Lincoln eatery, renovated, $250,000
    Where is this restaurant located?
    The property is located at 614 Broadway St Lincoln, IL.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: $250,000 asking price for the building only.; Downtown Lincoln, IL location at 614 Broadway Street, 62656.; Extensively renovated interior with open concept dining space, kitchen, two baths, and storage.
    Request Owner's contact information
    614 Broadway St Lincoln, IL 62656
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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
    614 Broadway St Lincoln, IL 62656
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