$175,000
$250,000
30.0%For more information regarding the value of a property, please contact us for a free consultation.
210 E Lincoln HWY Waterman, IL 60556
Key Details
Sold Price $175,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12057145
Annual Tax Amount $5,641
Tax Year 2022
Property Description
A great investment in a high-traffic area with tons of potential uses. TIF funding has been approved for a proposed restaurant/bar project, but funding can be approved for other uses as the property is located in a TIF-approved area. The property was in the process of being converted to a restaurant/bar with a gaming area and 2 apartments. Approved plans and drawings for the restaurant/bar and a parking lot (for the second lot) are in "additional information." Currently, there are 3 apartments, a restaurant/bar area with a kitchen, and a banquet hall/lounge area that can be rented immediately. The property offers a second lot (already approved TIF funding to be converted into a parking lot), a 14x45 heated garage, new windows, a full kitchen with an exhaust vent, commercial-size sinks, and stoves. This building could be re-purposed to all apartments, a mix of different professional services, retail, or a nice restaurant. The possibilities are endless; this property was previously used as a church and bowling alley! There is plenty of space in the basement for storage. Floor plans do not show the 2-bedroom apartment or basement area.
Location
State IL
County Dekalb
Area Waterman
Zoning COMMR
Interior
Cooling Central Air, Zoned
Flooring Carpet, Concrete, Parquet, Varies, Wood
Exterior
Utilities Available Electric to Site, Gas to Site, Sanitary Sewer, Water to Site
Roof Type Composition
Building
Structure Type Brick
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Kallan Welsh • Coldwell Banker Realty