111 E State Street, Irving, IL 62051

$125,000
  • 111 E State Street, Irving, IL 62051 Main Photo

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New to the Market Active
MLS#26057720
STATUSActive PROPERTY TYPECommercial - Retail SUBDIVISIONVillage-Irving

Property Description

FANTASTIC TURNKEY BUSINESS OPPORTUNITY IN IRVING! Here is your chance to purchase an established restaurant and gaming business in a highly visible downtown location! The current owners are ready to retire but plan to continue operating until ownership transfers, offering the opportunity for a smooth transition to the new owner. Financials are available to qualified buyers and demonstrate impressive historical income and strong investment potential that could allow this investment to pay for itself within the first year!The sale includes 6 parcels totaling approximately .34 acres +/- and 3 storefronts offering approximately 2,300 square feet +/- of space. The building is currently configured with an apartment-style area on the south side featuring a bedroom and bathroom, a gaming area in the center, and the 51 seat restaurant on the north side, creating multiple uses and potential income streams all under one roof.The established restaurant and gaming operation offers an income-producing opportunity that is difficult to duplicate at this price point! Even more impressive, the business currently operates on a limited schedule, leaving additional potential for a new owner to expand hours and further grow the operation. Current hours are Tuesday through Sunday from 6:00 AM to 2:00 PM, with evening hours Wednesday, Thursday, and Sunday from 4:00 PM to 8:00 PM and Friday and Saturday from 4:00 PM to 9:00 PM.Continue the existing operation or bring your own vision and take advantage of the possibilities for future growth. Grassy areas on BOTH the north and south sides of the buildings provide additional space with exciting possibilities for outdoor dining, live music, special events, expanded entertainment, or other future uses.LOCATION, LOCATION, LOCATION! Situated along heavily traveled Illinois Route 16 in downtown Irving, the property is conveniently located next to the Irving Post Office and Irving Grocery Store and across from Bank & Trust, providing excellent visibility and easy access.Real estate, an established restaurant and gaming operation, apartment-style space, multiple storefronts, and room for future expansion are all included in this unique opportunity! The owners are ready for retirement, and now is your chance to step into an established turnkey operation and make it your own!The neighboring Irving Grocery & Meat Market property and business, MLS #26057739, is also available for purchase. The restaurant currently purchases meats and other supplies from the grocery business, creating a natural connection between the two established operations. Acquiring both offerings could provide an opportunity to operate a grocery store, butcher shop, restaurant, gaming operation, and additional upper-level space in the heart of downtown Irving.Business operations, financial information, measurements, permitted uses, licenses, and the transferability of gaming and other approvals are subject to buyer verification.

111 E State Street | MLS# 26057720

This commercial property located at 111 E State Street, Irving, IL 62051 is currently listed for sale with an asking price of $125,000. Search Irving real estate on mhugo.strano.com today.

Property Features

Property Type: Commercial - Retail
Cooling: Wall Unit(s)
Heating: Baseboard, Forced Air
Lot Size: 0.34 Acres
Taxes: $2,216
Year Built: 1900

Feature Descriptions

Appliances: Stainless Steel Appliance(s), Gas Cooktop, Indoor Grill, Gas Oven, Range Hood, Refrigerator, Vented Exhaust Fan
Current Use: Bar/Tavern/Lounge, Mixed Use, Restaurant
Days on Site: 4
Electric: Ameren
Exterior: Brick
Parcel#: 12-22-477-007
Potential Use: Commercial, Restaurant, Retail
Road Frontage: State Road
Road Surface: Paved
Topography: Level
Water: Public

Listed By / Shown By

Listed By

Agency Name: MCR Realty Professionals, Inc

Shown By

Agent Name: Mary Hugo
Agent Phone: (618) 616-8955
Agency Title: Strano & Associates

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