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Property profile & analytics
FOR SALE
Commercial real estate
221 E Main St, Knoxville, IL 61448
Entity Owned
6-yr Hold
Property ID
US28-3030191
For Sale
1 / 82
$480,000
221 E Main St, Knoxville, IL 61448
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Property summary
AI-generated overview
This exceptional 11,031 square foot commercial property, situated on a 1.28-acre lot at 221 E Main Street in Knoxville, Illinois, presents a unique investment opportunity. The property currently houses a thriving, well-established restaurant renowned for its high-quality food and vibrant atmosphere. The restaurant boasts both indoor and outdoor dining spaces, including a remarkable covered outdoor Sound Garden capable of accommodating over 500 guests – ideal for live music, sporting events, and private functions. The fully equipped commercial kitchen includes a main kitchen, prep kitchen, bar, and ample dining areas, complemented by outdoor smokers. Adding to the investment appeal, two established office tenants generate immediate rental income. The current owners are offering a smooth transition, providing support to new ownership for up to three years. This turnkey operation offers a blend of established revenue streams and significant growth potential. A detailed inventory list is available upon request. This is a rare chance to acquire a well-regarded business and income-producing property in a desirable location. The asking price is $1,000,000.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2015
APN
10-28-327-019
UPID
US28-3030191
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
Current use
Occupant on record · Public records
-
New American Funding - Knoxville, IL Loan Service Bank
-
Centsless Copper Collector (Bike/Boat/Book/etc) Store
-
Sparkie's Auto & Custom Auto Repair Shop Vehicle Inspection Center
-
Big Catz BBQ Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Worden Properties LLC · 6 yrs held
Worden Properties LLC
since 2020
Last sale
$350,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Knoxville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Knoxville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,761
Tax year 2023
Assessed value
$121,240
Assessed 2023
Previous assessed
$113,600
+6.7% YoY
Effective rate
8.05%
On assessed value
Assessed land
$19,060
Assessed improvement
$102,180
Land market value
$57,180
Improvement market value
$306,540
Total market value
$363,720
Applied tax rate
117.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
2015
Heating
NONE
Stories
1
APN
10-28-327-019
UPID
US28-3030191
Jurisdiction
KNOX
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2015
Heating
NONE
Stories
1
Current owner
From public records · entity-resolved
Worden Properties LLC
Entity
Mailing address
221 E MAIN ST STE A, KNOXVILLE, IL 61448-1385
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2021
—
Worden Properties LLC
—
Deed
related
$47,520 · Cbi Bank & Trust
Apr 1, 2020
$350,000
Worden Properties LLC
Knoxville Mercantile LLC
Special Warranty Deed
$330,893 · Farmers & Mechanics Bank
Apr 24, 2019
$48,667
William P Gillen
Gillen,cynthia B
Grant Deed
—
Feb 26, 2018
—
Gillen,cynthia B Trust
Gillen,cynthia B
Quitclaim Deed
—
Sep 12, 2016
—
Knoxville Mercantile LLC
—
Deed
related
$40,281 · First Mid Il Bk&tr
Nov 10, 2014
$80,000
Knoxville Mercantile LLC
Benedict,robert R
Warranty Deed
$90,000 · Robert R Benedict
Sep 21, 2012
$100,000
Robert R Benedict
First Bank
Warranty Deed
$96,000 · Farmers & Mechanics Bank
May 22, 2012
—
First Bk
Lehman,scott A & Mindi M
Quit Claim Deed
related
—
Feb 1, 2008
—
Lehman,scott A & Mindi
—
Trustees Deed
related
$30,000 · First Bk/champaign
—
—
Knoxville Mercantile LLC
—
Deed Of Trust
related
$40,281 · First Mid Il Bk&tr
—
—
Lehman,scott A & Mindi
—
Loan Modification
related
$110,000 · First Bk/champaign
—
—
Lehman,scott A & Mindi
—
Loan Modification
related
$110,000 · First Bk/champaign
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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