230 Conference Center DrEast Peoria, IL 61611

Property Details for 230 Conference Center Dr

Year built

2007

Lot size

2.25 AC

Property size (Sq ft)

8,411 SF

Property type

Turn key restaurants

APN

01-01-29-300-007

APU

10129300007

Description

This exceptional 8,411 square foot restaurant and event center presents a unique investment opportunity. Situated on a 2.25-acre lot in Tazewell County, this single-tenant property boasts a prime location overlooking the Illinois River. The building is zoned B3 and offers a fully built-out interior, ready for immediate operation. The open kitchen concept is a highlight, featuring a main dining area, an aft kitchen with extensive dish and prep areas, and auxiliary hoods for fry preparation. Brewing enthusiasts will appreciate the five 527-gallon brewing tanks, complete with a walk-in reserve cooler. Ample storage is provided by multiple walk-in freezers and coolers. A fully furnished bar area complements the space, and an outdoor dining area provides stunning river views. This turnkey operation has the potential to generate significant revenue, making it an ideal acquisition for a discerning restaurateur or investor. The property's current configuration is designed to maximize efficiency and profitability, offering a rare opportunity to establish a thriving business in a highly desirable location. The seller is offering a period of free rent, further enhancing the value proposition. This is a truly one-of-a-kind opportunity to acquire a destination restaurant with exceptional potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,232,498

  6.5%

  $2,060,767

  7%

  $1,913,569

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,151,857

  Geo Method

  $1,652,418

• Alternative Use

  Use

  Valuation

  Residential

  $1,738,334

  Hospitality

  $1,592,305

  Educational

  $1,324,779

  Medical

  $1,370,340

  Retail

  $2,060,767

Location Insight

City

East Peoria

County

Tazewell

State

Illinois

Latitude

40.6814

Longitude

-89.5929

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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