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    945 1St St La Salle, IL 61301

    Sponsored
    For Sale
    $180,000

    Profitable Mixed-Use Investment

    Property size:
    2,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property in La Salle, Illinois, presents a unique investment opportunity. Located at 945 1st St, this fee-simple offering encompasses a thriving bar and a separate, income-generating two-bedroom, one-bathroom apartment. The main level features a modern bar area (17x40 ft) with sleek stainless steel countertops, a 15x18 ft game room, and a space with potential for kitchen conversion. The upstairs apartment, currently rented for $850/month, boasts a living room, dining room, and kitchen, providing a consistent revenue stream. The property also includes three gaming machines, with potential for expansion to six. Adding to its versatility, an outdoor area (with a separate PIN) is included, offering possibilities for development, such as a beer garden. The total square footage is 2,800, situated on a 4,800 sq ft lot, with two units across two stories. The asking price is $180,000, resulting in a price per square foot of $64.29. The property is currently 100% occupied and offers significant potential for increased revenue and expansion. This is a turnkey operation in a prime location, ready for a new owner to capitalize on its existing success and explore further development opportunities. The property's two parcel numbers are 18-15-416-018 & 18-15-416-019.

    Property Features for 945 1St St

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,800 SF

    Building Details

    Buildings
    1
    Stories
    2
    Units
    2

    HighLights

    • 945 1st St., Lasalle, IL: Prime location with entertainment and residential income potential.
    • 17' x 40' modern bar with stainless steel countertops.
    • 15' x 18' adjacent game room.
    • Convertible former kitchen space for food service or other uses.
    • Upstairs 2‑bed/1‑bath apartment generating $850/month rental income.
    • Three existing gaming machines, expandable to six.
    Property Profile Location Intelligence

    Current Use by Public Records

    Doc's Pub Bar

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    La Salle
    County
    LaSalle
    State
    Illinois
    Longitude
    -89.0917187
    Latitude
    41.3286711

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    Nearby Similar for Sale

    • New
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      Mixed-Use Building with Apartment Potential

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    FAQs

    What type of property is this?
    Individual retail property - Profitable Mixed-Use Investment
    Where is this individual retail property located?
    The property is located at 945 1St St La Salle, 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: 945 1st St., Lasalle, IL: Prime location with entertainment and residential income potential.; 17' x 40' modern bar with stainless steel countertops.; 15' x 18' adjacent game room.
    Request Owner's contact information
    945 1St St La Salle, IL 61301
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    La Salle, IL 61301
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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
    945 1St St La Salle, IL 61301
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