Second Generation Restaurant For Sale or Lease

LeaseSaleRestaurant 4,374 SF
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3028 Stanford Ave
Springfield, IL 62703
Price: $650,000
Lease Price: $12 / SF
Lease Type: Absolute NNN
Available Space: 4,374 SF
Lot Size (acre): 0.64 AC
Zoning: B-1, Highway Business District
Year Built : 2003

Property Description

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale or lease this second-generation restaurant in Springfield, IL.

The layout consists of 2 dining areas totaling 1,145 SqFt, a 988 SqFt full commercial kitchen, 2 ADA-compliant restrooms, and a 624 SqFt addition to the existing building (completed in 2012).  The kitchen has the essential restaurant fixtures (a 20’ Ansul hood ventilation system, a 3-compartment sink, 3 handwashing sinks, and a 100-gal water heater) in place, and a dedicated prep area. The addition contains a 22’ x 10’ walk-in cooler, a 7.5’ x 10’ walk-in freezer, dry storage, and a small office.  All furniture and equipment are negotiable.

Other updates and improvements completed in 2012 include:  airlock entryway, ceiling tile and insulation between ceiling tile and roof, kitchen equipment, concrete floor with plumbing in kitchen, refinished/stained concrete floor in the dining area, demoed and added some interior walls and ran electric wiring and insulation in those walls, large water heater, roof mounted HVAC unit over addition, landscaping (shrubs, base rock, and boulders), and reinforced concrete in dumpster enclosure.

Location Description

Subject Property is located west of S. Dirksen Pkwy and Interstate 55/72 on the southeast side of Springfield. It has visibility from Dirksen Parkway (12,300 AADT) and Interstate 55/72 (52,400 AADT). It is minutes away from multiple interchanges on Interstate 55 and 72. Nearby businesses include several upscale hotels brands (IHG, Marriott, and Wyndham), and popular restaurants (Red Lobster, Smokey Bones, Hooters, Applebee’s, IHOP, McDonald’s, and Starbucks). The Illinois Dept of Transportation (IDOT) and Illinois Secretary of State (SOS) are the major employers in the area. Also, there is shopping, entertainment, and many other amenities near the site.

Area Description

Springfield is the Capital of Illinois. It is located in central Illinois and is accessed by both Interstate 55 and Interstate 72. It is approximately 202 miles southwest of Chicago and 92 miles northeast of St. Louis. The historic US Route 66 crosses Illinois from Chicago to East St. Louis, which includes Springfield.