309 Walnut St Oglesby, IL 61348
- Commercial real estate
- 5,544 SF
- 0.17 lot acres
Current Use by Public Records
- ATM / Atm
- Mr. Salsa's, Inc. / Mexican Restaurant / Catering Food And Drink Supplier
Property Details for 309 Walnut St
- Year built
- 1909
- Lot size
- 0.17 lot acres
- Property size
- 5,544 SF
- Property type
- Commercial real estate
- APN
- 18-36-201-008
- APU
- 1836201008
Description
This exceptional mixed-use property at 309 E Walnut Street, Oglesby, IL, presents a unique investment opportunity. The 5,544 square foot building is ideally situated on busy Route 178, offering easy access to Interstate 39 (less than 3 miles away) and proximity to Starved Rock State Park, ensuring high visibility and foot traffic. Currently operating as a successful restaurant, the property boasts a spacious layout including a bar area with seating for 15, two separate dining areas perfect for private events, and an inviting outdoor patio. A dedicated gaming section adds to the entertainment options. The fully equipped kitchen and dining areas are ready for immediate operation, with all furnishings and fixtures included in the sale price of $275,000. The building also features a significant advantage: a private parking lot accommodating over 20 vehicles – a rare find in Oglesby. Upstairs, two bedrooms and 1.5 bathrooms offer potential for a rentable living space, further enhancing the property's income potential with the addition of a small kitchenette. This turnkey restaurant presents a lucrative opportunity for aspiring restaurateurs or investors seeking a high-traffic commercial property with substantial growth potential. Don't miss this chance to own a well-established business in a prime Oglesby location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $70,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $95,000
- 6.5%
- $85,000
- 7%
- $100,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $95,000
- Geo Method
- $105,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $100,000
- Retail
- $95,000
- Mixed-Use
- $90,000
- Hospitality
- $95,000
- Educational
- $80,000
- Residential Income
- $95,000
- Energy
- $85,000
- Income-Based Land
- $95,000
- Food Service
- $80,000
Location Insight
- Map
- Local Demand
- City
- Oglesby
- County
- Lasalle
- State
- Illinois
- Longitude
- -89.0557
- Latitude
- 41.2948
- CBSA code
- 36837
- CBSA name
- OTTAWA, IL MICROPOLITAN STATISTICAL AREA
