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    OFF-MARKET
    Commercial real estate

    311 Provost Ave, Scales Mound, IL 61075-9625

    0.24 ac lot Built 1940
    Individually Owned 16-yr Hold Free & Clear
    Property ID
    US28-4564433
    Property summary
    AI-generated overview

    This exceptional turnkey opportunity presents a fully operational bar and restaurant in Scales Mound, Illinois, listed at $375,000. The 4,500 square foot establishment, housed in a beautifully restored schoolhouse, boasts a prime location between Apple Canyon Lake and The Galena Territory, attracting both local residents and tourists from across the Wisconsin border. The main level features a stunning remodel with hardwood floors, exposed brick, and a custom-built bar. A fully equipped kitchen includes two deep fryers, two pizza ovens, a four-foot flat grill, walk-in cooler and freezer, prep cooler, and three-compartment sink. Behind the bar, two beer coolers are complemented by four additional freezers and an ice machine located downstairs. The lower level provides ample storage. Upstairs, a second floor mirroring the main level's square footage offers office space and two outdoor balconies, ideal for hosting events. Additional attic space allows for expansion or creative use. This unique venue combines historic charm with modern amenities, offering a versatile space with endless potential as a community hub or event destination. The property's strong reputation and loyal customer base ensure a smooth transition for a new owner. This is a truly remarkable opportunity in Jo Daviess County.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1940
    Lot 0.24 ac (10,454 SF)
    APN 16-001-020-01
    UPID US28-4564433
    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
    • The Old School Saloon Bar & Pub 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
    Barron T Petratitis · 16 yrs held
    Barron T Petratitis
    since 2009
    1 recorded transaction
    2009
    $30,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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