Contact us: 563.441.1776
Description
Formerly doing business as The Grill, this restaurant is a much needed and anticipated business in Colchester. It was remodeled in 2021 and has since been improved with new furnace and central air in 2024. The building sells with all restaurant equipment, a walk-in cooler and freezer, a prep area, dry storage area, and an office. Many additional kitchen items and cookware are also included. There are additional booths that stay and would seat approximately 32 more people, in addition to the current seating of 52. There are 3 buildings included with a 2-bedroom apartment above building 2, and a 2-bedroom apartment above building 3. A beauty shop occupies the lower level of building 3. The current rental income is $2,200 per month, and could be more with the rental of the lower level of building 2. One apartment has a new furnace in 2024, and both apartments have solar panels. This is a great investment opportunity to start a restaurant business, with a good monthly rental income already established. Call for your opportunity to view!
Property Highlights
Property Type: Commercial - Business
Building Description: 3.0 stories
Available Sqft: 2551
Year Built: 1890
General Information
County: McDonough
Listed By:
Key, REALTORS
Office: 309-837-6464
RMLSA
MLS ID: PA1265241
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134 W Market Street, Colchester, IL 62326.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $275,000 | $275,000 | $275,000 |
| Down Payment | $55,000 | $9,625 | $68,750 |
| Monthly Mortgage Amount | $1,284 | $1,619 | $1,672 |
| Taxes | $383 | $383 | $383 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $121 | $0 |
| Monthly Estimated Total | $1,767 | $2,223 | $2,155 |
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Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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