1577 Wabash Ave Springfield, IL 62704
- Commercial real estate
- 0.17 lot acres
Current Use by Public Records
- The Barrel Head / Irish Pub
Property Details for 1577 Wabash Ave
- Lot size
- 0.17 lot acres
- Property type
- Commercial real estate
- APN
- 22-08.0-178-020
- APU
- 22080178020
Description
This exceptional commercial property at 1577 W Wabash Avenue, Springfield, IL 62704, presents a lucrative investment opportunity. Priced at $599,000, this offering encompasses three parcels of land totaling approximately half an acre, including an overflow parking lot across Leonard Street. The main building, a completely rebuilt bar and restaurant (2007), boasts a spacious layout ideal for continued operation or redevelopment. Key features include two distinct dining areas, a large central bar, a substantial gaming room, a manager's office, and a private upper-level office suite complete with a kitchenette and full bathroom. The property's strategic location on the near west side of Springfield offers excellent visibility and accessibility. Its substantial size and versatile configuration make it suitable for a variety of commercial uses, presenting significant potential for growth and return on investment. The property's history as a successful restaurant provides a strong foundation for future success, whether continuing the existing business or adapting the space for a new venture. This is a rare opportunity to acquire a well-established commercial property with significant land holdings in a desirable Springfield location. The property's combination of existing infrastructure and ample land provides flexibility for expansion or future development.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.6803
- Latitude
- 39.7645
- CBSA code
- 44100
- CBSA name
- SPRINGFIELD, IL METROPOLITAN STATISTICAL AREA
