Property profile

497 Berrien St Galesburg, IL 61401

OFF-MARKET
Commercial real estate
Property ID
US28-0715017
Individually Owned 1-yr Hold Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
APN 99-14-152-009
UPID US28-0715017

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bar & Pub

Location

497 Berrien St Galesburg, IL 61401-5077
Galesburg metro Census 1000 GALESBURG, IL MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
by Request
Blend (final) Blend
$75k

Owner & transaction history

since 2025
Last sale
$75,000
4 recorded transactions
2025
$75,000
2010
$10,000
2008
$75,000
2004
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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