For Sale
$140,000

212 Main St Shelbyville, IL 62565

Historic Bar & Apartments, High Income Potential

Overview

Added:
Feb 3
Days on market:
79
This unique Shelbyville investment opportunity encompasses two adjacent buildings totaling 0.07 acres at 212 & 216 Main Street. The property has a rich history as the "Sit n Sip" bar, a long-standing local establishment. The sale includes the existing bar equipment, intended to convey to the new owner. The bar's kitchen features a functional vent hood and Ansul system, along with refrigeration units that were operational at the time of closure. Note that any future liquor sales will require obtaining new licensing. Above the bar, three apartments provide additional income streams. Each building offers separate basement, ground, and street-level entrances, enhancing functionality and potential for future development or repurposing. Financial records indicate strong performance, with Video Gaming Terminal (VGT) Net Terminal Income (NTI) totaling $152,118.76 from January to October, utilizing six terminals. Amusement equipment and promotional items associated with the distributor will be removed prior to closing. This property presents a compelling blend of commercial and residential income potential in a desirable location. The existing infrastructure and proven revenue streams offer a solid foundation for a variety of business ventures. Serious inquiries are encouraged.

Property Details for 212 Main St

Property type
Commercial real estate
Year Built
1701
Lot Size (sq. ft)
3,049 SF

Location Insight

City
Shelbyville
County
Shelby
State
Illinois
Latitude
39.47851
Longitude
-88.85917

FAQs

What type of property is this?
Commercial real estate - Historic Bar & Apartments, High Income Potential
Where is the commercial real estate located?
The property is located at 212 Main St Shelbyville, IL.
What is the asking price?
The asking price for this property is $140,000.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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212 Main St
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