Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    124 Chicago St Lincoln, IL 62656

    Sponsored
    For Sale
    $250,000

    Historic Downtown Lincoln, IL Commercial Property

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 5,600 square foot, two-story brick commercial building located in historic downtown Lincoln, Illinois. The main floor houses a thriving restaurant, featuring a recently renovated open dining area with high tin ceilings, a large upgraded kitchen, two bathrooms, a bar area, and a reception area. Upstairs, a fully functional three-bedroom apartment boasts ample natural light and spacious rooms, including a large open living/dining area, kitchen, three bedrooms, a full bath, and laundry facilities. A full basement and an attached rear storage area (no interior access) provide additional space. The asking price is for the structure only; however, the sellers are open to discussions regarding the sale of appliances and equipment. The current restaurant owners are also open to a leaseback arrangement. This property offers significant potential for a variety of uses and income streams. The property is located at 124 S CHICAGO Street, Lincoln, IL 62656.

    Property Features for 124 Chicago St

    General Information

    Property type
    Restaurants

    HighLights

    • $250,000 asking price for a 5,600 sq ft, two‑story brick commercial building.
    • Located in historic downtown Lincoln, IL at 124 S Chicago Street.
    • Currently houses a restaurant on the main floor and a three‑bedroom apartment upstairs.
    • Main floor recently renovated with large dining area, kitchen, bar, and bathrooms.
    • Upper level apartment features an open living area, kitchen, three bedrooms, and a full bath.
    • Includes a full basement and attached rear storage area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ami-gos World 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
    -89.3639811
    Latitude
    40.1467525

    Nearby Similar for Sale

    • New
      $4,250,000
      9.43 Acres

      Lincoln, IL Industrial Building

      247,000 sq ft industrial building with convenient I-55 access.
      1119 N Kickapoo St, Lincoln, IL 62656
      View Details
    • New
      $250,000

      Turn-Key Bar in Lincoln, IL

      Thriving bar with party room and outdoor area for sale.
      401 Limit St, Lincoln, IL 62656
      View Details
    • $1,102,564
      2,309 SF

      Oil Changers NNN Investment Property

      NNN leased Oil Changers with corporate guarantee by Valvoline.
      1101 Woodlawn Rd, Lincoln, IL 62656
      View Details
    • $345,500
      4,120 SF

      Lincoln, IL Office Investment Property

      Third-floor business condo in downtown Lincoln, fully leased until 2029.
      529 Pulaski St, Lincoln, IL 62656
      View Details
    • $1,454,000

      Retail Property in Lincoln, IL

      Retail property available for sale in Lincoln, Illinois.
      602 Woodlawn Rd, Lincoln, IL 62656
      View Details
    • $174,900
      3,600 SF

      Downtown Lincoln Commercial Gem

      Spacious 3600 sq ft commercial building, prime location.
      305 Decatur St, Lincoln, IL 62656
      View Details
    • Contact for pricing
      11,920 SF

      you can truly let your imagination run absolutely wild with this one!""""}"""

      Lincoln Commercial Building - Huge Potential
      121 Sangamon St, Lincoln, IL 62656
      View Details
    • $95,000
      1,032 SF

      Lincoln Commercial Building - Prime Location

      Downtown Lincoln, IL - Versatile Commercial Space
      514 Pekin St, Lincoln, IL 62656
      View Details
    • $345,500
      4,120 SF

      Lincoln Downtown Commercial Condo

      High-yield investment, fully leased.
      207 Mclean St, Lincoln, IL 62656
      View Details
    • $350,000
      11,000 SF

      Historic Lincoln Commercial Building

      Prime Location, 11,000 sq ft, $350,000
      500-508 Broadway St, Lincoln, IL 62656
      View Details
    • $35,000

      Downtown Lincoln Mixed-Use Building

      Prime Location, Endless Potential, 1100 sq ft
      414 Pulaski St, Lincoln, IL 62656
      View Details
    • $4,950,000
      247,000 SF

      Prime Lincoln, IL Industrial Facility

      Massive industrial space, ideal location, high-value features.
      1119 Kickapoo St, Lincoln, IL 62656
      View Details

    FAQs

    What type of property is this?
    Restaurant - Historic Downtown Lincoln, IL Commercial Property
    Where is this restaurant located?
    The property is located at 124 Chicago 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 a 5,600 sq ft, two-story brick commercial building.; Located in historic downtown Lincoln, IL at 124 S Chicago Street.; Currently houses a restaurant on the main floor and a three-bedroom apartment upstairs.
    Request Owner's contact information
    124 Chicago St Lincoln, IL 62656
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    124 Chicago St
    Lincoln, IL 62656
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    124 Chicago St Lincoln, IL 62656
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.