100 Main St Elizabeth, IL 61028

Property Details for 100 Main St

Year built

1940

Lot size

0.09 lot acres

Property type

Commercial real estate

APN

07-001-119-00

APU

700111900

Description

This exceptional fee-simple retail property, Stella's Cafe, presents a unique investment opportunity in the heart of Stockton, Illinois. Located at 100 N Main St, this 5,680 square foot restaurant boasts a rich history, having been built in 1897 and lovingly remodeled in 2020. The charming building retains many original features, including a copper-toned tin ceiling and wood flooring, creating a unique ambiance. The restaurant comfortably seats up to 100 patrons, and the kitchen is considered a "chef's paradise," enhanced by a new cooler added in 2022. The property includes a 2,600 square foot, 1-bedroom, 1.5-bathroom apartment on the upper level, offering potential for additional rental income or staff accommodations. Situated on a 0.07-acre lot, the property is zoned commercial and enjoys 100% occupancy. The asking price is $295,000, representing a price per square foot of $57.22 and a 100% cap rate. Stockton is currently undergoing a revitalization effort, focusing on downtown streetscapes and sidewalks, including a new walking tour, making this a prime location for a thriving business. The property is part of the Tax Increment Financing (TIF) district, and the village's Business Development Program can be utilized to offset costs or purchase equipment. All existing equipment is included in the sale. This is a rare chance to own a successful, updated restaurant with significant upside potential in a picturesque Illinois village.

Location Insight

City

Elizabeth

County

Jo Daviess

State

Illinois

Longitude

-90.2217

Latitude

42.3179

Property Tax & Assessments