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$ 525,000
$ 550,000 4.5%
Est. payment /mo
Sold on 12/12/2025
803 Iron Horse PL Monticello, IL 61856
5,000 SqFt
UPDATED:
Key Details
Sold Price $525,000
Property Type Commercial
Sub Type Bus / Bus w/Real Est
Listing Status Sold
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $105
MLS Listing ID 12221677
Sold Date 12/12/25
Annual Tax Amount $10,167
Tax Year 2023
Lot Dimensions 187.5X175X191.46X145
Property Sub-Type Bus / Bus w/Real Est
Property Description
**FOR SALE: The Red Wheel Restaurant/Bar - Monticello, IL** Strategically positioned next to Best Western Monticello Gateway Inn and Circle K Truck Stop, and directly across I-72 from Rick Ridings Ford, Kirby Medical Center, and the Monticello Railway Museum. Situated just off I-72, Exit 166, this prime location offers excellent visibility and accessibility for both locals and travelers.**Property Details: Built:1999, Size: Approx. 5,000 sq. ft., Seating Capacity: Total 280 (Dining: 220, Bar: 60, Outdoor Patio: Additional 50). **Bar Features:** 6 gaming machines, 1 jukebox, 1 ATM, 1 electronic dart board (All currently owned and managed by J new owner must secure their own gaming and alcohol licenses and agreements with J&J.) **Business Highlights: Turnkey Opportunity:All Kitchen equipment included (detailed list available), Gaming Revenue: Historical data accessible via the Illinois Gaming Board website, Stable Operation: 22 years of successful business, Growth Potential: Current operating hours are until 8 PM daily, despite local ordinances allowing later service (until Midnight Mon-Thurs, 1 AM Fri-Sat, and 10 PM Sun). **Why Sell? The current owner is retiring after decades of operation, offering a golden opportunity for a motivated buyer to expand hours and tap into the bar's full potential. **Financials: Owner profit/loss statements are available upon request for qualified buyers. Don't miss this rare chance to own an established restaurant/bar in a thriving location!
Location
State IL
County Piatt
Area Western Champaign County / Piatt & Mcclean Counti
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Daniel Gordon of RE/MAX REALTY ASSOCIATES-CHA
Bought with Aaron Cooper of The Real Estate Group,Inc
Bought with Aaron Cooper of The Real Estate Group,Inc