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    415 15Th Street Pl Moline, IL 61265

    Sponsored
    For Sale
    $569,000

    Downtown Moline, IL: Restaurant, Apartments

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property, located at 415 15th Street in downtown Moline, Illinois, presents a unique investment opportunity. The main building, constructed in 1891, and an adjacent structure built in 1901, boast approximately 7,176 square feet of space above grade. A complete renovation in 2003-2004 transformed the property, creating a vibrant commercial space on the first floor currently configured as a restaurant, a partial mezzanine, and two residential apartments. The apartments consist of a one-bedroom unit and a recently updated two-bedroom unit. The property also includes a full basement. The building benefits from its prime downtown location, with convenient access to a large public parking lot and a parking ramp directly across the street. The property features a newer TPO roof. Currently, the property is available for lease at a modified gross rent of $5,000 per month. The asking price for the property is $569,000. The seller is facilitating a 1031 exchange, with cooperation from the buyer expected at no additional cost. This is an excellent opportunity to acquire a historically significant, well-maintained, and strategically located mixed-use property in the heart of Moline. The property is zoned for commercial, multifamily, and retail uses. The property consists of one building with two units.

    Property Features for 415 15Th Street Pl

    General Information

    Property type
    Restaurants

    Building Details

    Year Built
    1891
    Buildings
    1
    Units
    2

    HighLights

    • Prime downtown Moline, IL location at 415 15th Street.
    • 7,176 SF mixed‑use building (1891 & 1901 construction), completely renovated (2003‑2004).
    • First floor commercial space (currently a restaurant), partial mezzanine, and two residential apartments (one‑bedroom and one updated two‑bedroom).
    • Full basement, newer TPO roof, ample nearby public parking.
    • Asking price: $569,000; $5,000/month modified gross lease available; 1031 exchange facilitated by seller.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    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
    Moline
    County
    Rock Island
    State
    Illinois
    Longitude
    -90.5168111
    Latitude
    41.5064888

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    FAQs

    What type of property is this?
    Restaurant - Downtown Moline, IL: Restaurant, Apartments
    Where is this restaurant located?
    The property is located at 415 15Th Street Pl Moline, IL.
    What is the asking price?
    The asking price for this property is $569,000.
    What are key features of this property?
    This property features: Prime downtown Moline, IL location at 415 15th Street.; 7,176 SF mixed-use building (1891 & 1901 construction), completely renovated (2003-2004).; First floor commercial space (currently a restaurant), partial mezzanine, and two residential apartments (one-bedroom and one updated two-bedroom).
    Request Owner's contact information
    415 15Th Street Pl Moline, IL 61265
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    Moline, IL 61265
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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
    415 15Th Street Pl Moline, IL 61265
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