4275 Grand Ridge RdVerona, IL 60479

  • Commercial real estate
  • 3,200 SF
For Sale
$1,599,000 View listing

Property Details for 4275 Grand Ridge Rd

Lot size
2.20 AC
Property size (Sq ft)
3,200 SF
Property type
Commercial real estate
APN
07-23-200-003
APU
723200003

Description

This exceptional Verona, IL property offers a high-volume, profitable restaurant and bar business on 3.7 acres. The 6,400 square foot building features a 60-seat dining room, a 24-seat bar with ample standing room, and a recently constructed outdoor pavilion with seating for 260 under mature oak trees. A fully equipped, spotless kitchen is designed for high-volume food service. The bar boasts a high-volume layout and a convenient beer cooler. Video gaming machines provide additional revenue streams. The property includes a covered front deck (40+ seats), a rear balcony overlooking the outdoor seating and patio, and a large, high-ceilinged basement with poured concrete walls (previously used for events). The business benefits from a large customer base and has hosted events with over 1,000 attendees. Included in the sale are Class C and package liquor licenses. The current owners are retiring, presenting a unique opportunity for a buyer to acquire a turnkey operation with significant growth potential. The business is currently closed on Mondays and during summer holidays, offering further revenue opportunities for a new owner. The asking price is $1,599,000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $661,356
    Hospitality
    $605,799
    Educational
    $504,018
    Medical
    $521,352
    Retail
    $784,027

Location Insight

City
Verona
County
Grundy
State
Illinois
Latitude
41.2389
Longitude
-88.4984
CBSA code
16980
CBSA name
CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN 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
$8,770
$5,111
$102,210
$107,321
-
$15,333
$306,630
$321,963

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