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    221 Main St Knoxville, IL 61448

    Sponsored
    For Sale
    $1,000,000

    Prime 11,031 SF Restaurant & Land

    Property size:
    11,031 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents 11,031 square feet of commercial land located at 221 E Main Street in Knoxville, Illinois, zip code 61448. The property currently houses a well-established and popular restaurant featuring both indoor and outdoor dining spaces. The outdoor area includes a large covered Sound Garden with a capacity exceeding 500 guests, ideal for hosting live music, sporting events, and private functions. The restaurant's amenities include a full kitchen, prep kitchen, bar, multiple dining areas, a banquet room, and outdoor smokers. Adding to the investment potential, two office tenants currently lease space on the property, providing immediate rental income. The current owners are offering a smooth transition, providing support for up to three years to the new owner. This turnkey operation is ready for immediate ownership. A detailed inventory list is available upon request. The asking price for this unique property is $1,000,000. This is a rare chance to acquire a thriving business with significant growth potential in a desirable location. Don't miss this opportunity to own a piece of Knoxville's vibrant culinary and entertainment scene.

    Property Features for 221 Main St

    General Information

    Property type
    Land
    Square Feet
    11,031 SF

    HighLights

    • $1,000,000 asking price.
    • 11,031 SF special purpose land, Commercial Other subtype.
    • Located at 221 E Main Street, Knoxville, IL 61448.
    • Turnkey restaurant with full kitchen, bar, and outdoor venues; includes two office tenants generating immediate income.
    • Seller offering up to three years of transition assistance.
    Property Profile Location Intelligence

    Current Use by Public Records

    New American Funding ... Mortgage Lender Centsless Copper Collector Coin Dealer Sparkie's Auto & Custom Car Repair And Maintenance Service Big Catz BBQ Barbecue Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Illinois
    Longitude
    -90.2826519
    Latitude
    40.9084453

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    Nearby Similar for Sale

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      Downtown Knoxville Commercial Gem

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    FAQs

    What type of property is this?
    Land - Prime 11,031 SF Restaurant & Land
    Where is this land located?
    The property is located at 221 Main St Knoxville, IL.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: $1,000,000 asking price.; 11,031 SF special purpose land, Commercial Other subtype.; Located at 221 E Main Street, Knoxville, IL 61448.
    Request Owner's contact information
    221 Main St Knoxville, IL 61448
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    Knoxville, IL 61448
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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
    221 Main St Knoxville, IL 61448
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