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    OFF-MARKET
    Turn key restaurants

    18706 Springfield Rd, Groveland, IL 61535-9506

    2,610 SF 0.56 ac lot Built 1937
    Individually Owned 7-yr Hold ~ Est. High Equity
    Property ID
    US28-2207021
    Property summary
    AI-generated overview

    This exceptional turnkey business opportunity in Groveland, IL, presents a well-established restaurant spanning 2,610 square feet on a 0.56-acre lot at 18706 Springfield Road. The property boasts a rich history, having operated successfully under the same ownership for 34 years. Included in the sale price of $400,000 are the building, land, existing business, and all equipment. The equipment is modern and recently upgraded, featuring brand-new exhaust systems in the kitchen. The restaurant includes a walk-in cooler currently in use, plus a second walk-in cooler available as an option. The exterior has been recently updated, enhancing curb appeal. The spacious interior comfortably seats 140 guests, divided between two dining rooms and a dedicated banquet area, perfect for larger events. Ample parking is provided with over 50 spaces, ensuring convenient access for patrons. The property's prominent location on Springfield Road ensures high visibility and accessibility. A loyal and dedicated staff contributes to the smooth and efficient operation of this thriving business. This is a rare opportunity to acquire a profitable, established business with significant potential for continued growth. The combination of a strong business history, updated facilities, and prime location makes this an attractive investment.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1937
    Total area 2,610 SF
    Lot 0.56 ac (24,394 SF)
    APN 05-05-27-201-007
    UPID US28-2207021
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Owner & transaction history
    Leslie J Knollenberg · 7 yrs held
    Leslie J Knollenberg
    since 2018
    7 recorded transactions
    2018
    2016
    2010
    2008
    2008
    2008
    2007
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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