497 Berrien St Galesburg, IL 61401-5077
Property profile & analytics
497 Berrien St Galesburg, IL 61401-5077
- Commercial real estate
Property ID
US28-0715017
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- The store / Bar & Pub
Property Details for 497 Berrien St
- Property type
- Commercial real estate
- APN
- 99-14-152-009
- APU
- 9914152009
Description
This exceptional Galesburg commercial property presents a unique investment opportunity. Located at 497 E Berrien Street, this 5,100+ square foot building sits on a 0.34-acre lot and offers a diverse income stream. The main business is an established bar featuring a spacious bar area, comfortable seating, a dedicated gaming area, restrooms, and a small kitchen. Adding to the appeal is a pleasant outdoor beer garden, perfect for warmer months. Beyond the bar, the property includes two income-generating apartments, providing supplemental revenue. The building's versatile layout and ample space offer potential for expansion or adaptation to suit various business needs. The property is zoned M-1 Light Industrial, providing flexibility for future uses. Its excellent location offers easy access to both downtown Galesburg and the south side of town, ensuring high visibility and convenient access for patrons and residents. Priced at $95,000, this property represents a compelling opportunity for investors seeking a blend of established income and significant growth potential. The combination of a thriving bar, rental apartments, and prime location makes this a truly remarkable investment prospect. The property's size and zoning allow for a variety of future uses, making it an adaptable and valuable asset. Don't miss this chance to acquire a well-established and profitable commercial property in a desirable Galesburg location.
Value Estimations
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CAP approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Galesburg
- County
- Knox
- State
- Illinois
- Longitude
- -90.3628
- Latitude
- 40.9428
- CBSA code
- 23660
- CBSA name
- GALESBURG, IL MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$2,513
$7,060
$19,410
$26,470
-
$21,180
$58,230
$79,410
