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    OFF-MARKET
    Commercial real estate

    571 North St, Galesburg, IL 61401

    12,000 SF 2.54 ac lot Built 1993
    Property ID
    Property summary
    AI-generated overview

    This exceptional turnkey commercial property, located at 571 E North Street in Galesburg, Illinois, presents a unique investment opportunity. The 12,000 square foot building sits on a spacious 2.54-acre lot, providing ample parking and convenient access to East Main Street (US Hwy 150). Currently configured as a banquet facility, the property is fully equipped for immediate operation. All furniture, fixtures, and equipment are included in the sale price of $499,000. This comprehensive inventory encompasses a fully functional commercial kitchen, two modern bars, four restrooms, a substantial storage area, a dedicated office, and a bridal suite. The building itself is a modern metal structure featuring a covered drive-up entry, a large parking area, and prominent electronic monument signage. The interior layout is designed for versatility, allowing for simultaneous events or adaptable configurations to suit diverse business needs. The expansive space and acreage offer significant potential for future development and repurposing, making this a highly attractive proposition for entrepreneurs and investors alike. A minimum 24-hour notice is required for property showings.

    Property profile
    Verified
    Property type Commercial real estate
    Year built 1993
    Total area 12,000 SF
    Lot 2.54 ac (110,642 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Cedar Creek East Bar & Pub
    • Cedar Creek Hall - Event Venue and Reception Hall Event Planning Wedding Service
    Value estimations
    Realmo proprietary · 4 methods
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    by Request
    CAP Approach CAP
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    Blend (final) Blend
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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