7400 Archer Road #7400 Active Save Request In-Person Tour Request Virtual Tour
Justice,IL 60458
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,275 sqft
Price per Sqft $192
MLS Listing ID 12281281
Year Built 1901
Annual Tax Amount $11,670
Tax Year 2023
Lot Dimensions .36
Property Sub-Type Mixed Use
Property Description
This listing has a famous history tied to legends & famous stories! Great opportunity for an air b&b catering to the high demand for families have hold ceremonies. The bar / restaurant is Cash Heavy generating cash flow from the gaming machines and the out-door venue hosting parties and events. But that's not all! Lease potential for 2 apartments could be 1,000 per month each!! This is an excellent opportunity for an entrepreneur to purchase a long standing, well-established, mixed use investment! With potential and high demand for retail space and residential rental units. Current use as bar/restaurant provides excellent cash flow. Additional income provided by multiple video gaming terminals. This charming and unique bar & restaurant has been part of the community since 1963. Investor's can keep current business model or change to endless possibilities: B&B, Short or Long Term Rentals, Music Venue, Ceremonies / Banquets, Restaurant Lounge, Cafe, or Pub / Bar with bands and leisure gaming. Offering 3,275 square feet free standing building with 2 rental units: A 2 Bedroom Apartment Upstairs and a 1 Bedroom Apartment in the back on the main level. Providing opportunity for estimated 24,000 /year additional residential income. The real estate includes .75 acres of land composed of two separate parcels. The building is situated on .36 acres with the second parcel being mainly spacious land and the huge driveway. The bar & restaurant has so much history, charm, and character. Turn-key opportunity or create your own investment dreams here!! 5 video gaming terminals currently, with room for more. Functional kitchen. Full basement allows for additional storage. Large outdoor grass picnic area with stage, perfect for parties, picnics, and an excellent music / concert venue. Expansive outdoor wooden pavilion built in 2019 provides plenty of outdoor seating. Property has been lovingly maintained but being sold "As - Is". Proof of funds or lender approval letter required. Operating Income only available with a signed Confidentiality agreement, to be signed by buyer and agent. This Rare Opportunity sits On A High Traffic road with estimated daily traffic counts over 15,000.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air
Flooring Tile,Varies,Wood
Fireplace N
Exterior
Utilities Available Electric to Site,Gas to Site
View Y/N true
Roof Type Tar/Gravel
Building
Structure Type Frame