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Property profile & analytics
OFF-MARKET
Retail properties & Spaces

571 North St Galesburg, IL 61401

Built 1993
Property ID
Property summary
AI-generated overview

This exceptional Galesburg, Illinois commercial property presents a unique investment opportunity. Priced at $499,000, this 12,000 square foot turnkey banquet facility is situated on a 2.54-acre lot in Knox County, offering ample parking and convenient access to East Main Street (US Hwy 150). Built in 1993, the modern metal building features a covered drive-up entry, a large parking lot, and prominent electronic monument signage. The interior boasts a fully equipped commercial kitchen, two contemporary bars, four restrooms, substantial storage space, a dedicated office, and a bridal room. All furniture, fixtures, and equipment—including a complete security system and state-of-the-art sound and video systems—are included in the sale, allowing for immediate operation. The flexible layout accommodates multiple simultaneous events. The expansive property offers significant potential for diverse future uses, making it an attractive prospect for both business owners and investors. A minimum 24-hour notice is required for showings. The property is zoned for Commercial, Restaurant, and Other uses.

Property profile
Verified
Property type Retail properties & Spaces
Year built 1993
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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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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