103 3rd St 105 London Mills, IL 61544-7506
For Sale
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This exceptional opportunity presents the chance to acquire a fully operational, turnkey bar and restaurant located at 103 3rd Street, London Mills, Illinois, 61544. Priced at $250,000, this established business boasts nearly 40 years of operation, building a strong reputation within the community and beyond. The property itself is classified as commercial land and retail space, offering a unique blend of established business and real estate investment potential. The restaurant, known as Spoonies, is renowned for its high-quality food, particularly its pork tenderloins, which have garnered significant local and regional acclaim. Features include a well-established customer base and a proven track record of success. The business has been highlighted in publications such as Pursuing Pork Tenderloin and Peoria Local Legends Magazine, further solidifying its reputation as a top destination for pork tenderloins in the Greater Peoria area. This turnkey operation offers immediate income potential and a strong foundation for continued growth in a desirable location. The property's location in London Mills, Fulton County, Illinois, provides access to a loyal customer base and offers significant potential for expansion and further development. This is a rare opportunity to own a successful, long-standing restaurant with a strong brand identity and a proven history of profitability. The sale includes the land and the established business, presenting a complete and ready-to-operate package.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
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.