571 North St, Galesburg, IL 61401
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.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.