220 5Th StDelavan, IL 61734

Property Details for 220 5Th St

Year built

1945

Lot size

0.34 AC

Property size (Sq ft)

8,976 SF

Property type

Bowling alleys

APN

21-21-10-301-002

APU

212110301002

Description

Exceptional investment opportunity awaits with this 8,976 square foot, ten-lane bowling alley located at 220 E 5th St, Delavan, IL 61734. The property is being offered at $180,000 and presents a unique chance to acquire a ready-to-reopen business. All ten bowling lanes and their mechanical systems are fully operational, requiring only cosmetic updates to restore the facility to its former glory. The existing kitchen needs modernization to meet the needs of a new owner. Significant upside potential exists with the possibility of obtaining a liquor license and introducing gaming options on-site. A large fenced lot provides ample space for outdoor expansion, such as a patio area, or even an addition to the existing building. Furthermore, there's a strong possibility of securing TIF (Tax Increment Financing) funds in May to assist with renovations or expansion projects. This property offers a compelling blend of established infrastructure and significant growth potential, making it an ideal acquisition for an ambitious entrepreneur. Don't miss this chance to own a piece of Delavan's history and shape its future.

• Alternative Use

  Use

  Valuation

  Residential

  $2,748,739

  Hospitality

  $2,517,830

  Educational

  $2,094,805

  Medical

  $2,166,849

  Retail

  $3,258,586

Location Insight

City

Delavan

County

Tazewell

State

Illinois

Latitude

40.3711

Longitude

-89.5454

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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