201 Mill StPontiac, IL 61764

Property Details for 201 Mill St

Lot size

0.04 AC

Property type

Commercial real estate

APN

15-15-22-407-019

APU

151522407019

Description

This exceptional 1,700-square-foot commercial building, located at 201 N Mill Street in Pontiac, Illinois, presents a unique investment opportunity. For the past two decades, it has successfully operated as a popular eating establishment, benefiting from its prime downtown location and established customer base. The current owner, who has held the property since 1977, is offering the buyer the opportunity to utilize the existing "Dad's Magic Frozen Custard" name. The building boasts a charming interior with beautiful tin ceilings, ceiling fans, and updated lighting throughout the main cafe area. City-approved outdoor seating complements the existing indoor seating on both the ground and upper floors. Upstairs, an office and a half-bath provide convenient workspace. The third floor, accessible via a separate entrance, offers expansive, open space with significant potential for various uses, enhanced by a balcony and recently installed windows. A full basement includes a walk-in industrial freezer and refrigerator, ample shelving, a washer and dryer, and east-facing access for convenient unloading. The basement also features 3-phase wiring for the custard machine, a sump pump, and a grease receptor. The building's mechanical systems are well-maintained, with a new roof installed in 2011, Lyons Bros servicing the furnace and A/C, and Durham Electric handling electrical needs. This property offers endless possibilities for a savvy investor seeking a turn-key operation or a blank canvas for a new venture.

• Alternative Use

  Use

  Valuation

  Residential

  $360,026

  Hospitality

  $329,782

  Educational

  $274,375

  Medical

  $283,811

  Retail

  $426,805

Location Insight

City

Pontiac

County

Livingston

State

Illinois

Latitude

40.8796

Longitude

-88.6301

CBSA code

38700

CBSA name

PONTIAC, IL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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