Loraine IL Commercial for Sale
$355,000
307 N Main Street Loraine, IL 62349
- Type:
- General Commercial
- Sq.Ft.:
- 12,320
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 5 Acres
- Baths:
- MLS#:
- CA1026516
ADDITIONAL INFORMATION
Discover an extraordinary opportunity to own a unique rural destination venue and bar at 307 N Main St, Loraine, IL. This exceptional property, formerly a school, now operates as a well-established bar and event venue, covering approximately 12,320 square feet. The building has been thoughtfully updated with contemporary functionality and includes a geo thermal system. Nestled on a spacious 5-acre plot, this venue offers ample room for expansion, ideal for enhancing your event operations. The potential for culinary expansion is notable, with space available in the former school cafeteria to introduce a full-service kitchen. The ambiance of the property is one of its most striking features. The front bar area, situated in the old gymnasium, boasts the original basketball tile floor and impressive 19-foot ceilings, creating a nostalgic and inviting atmosphere. This area also includes a cozy gaming room, adding to its appeal. In the back of building, a large room stands ready for significant events and gatherings. It's currently a hub for local bags leagues and has proven to be an ideal setting for wedding rehearsals and receptions, exemplifying its versatility. This property isn't just a building; it's a centerpiece in the community. It's a place where memories are made and new stories begin. As a potential owner, you have the chance to continue this legacy.
Andrea D. Conner, License 471020674, Xome Inc., License 478026347, [email protected], 844-400-XOME (9663), 750 Highway 121 Bypass, Ste 100, Lewisville, TX 75067
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Loraine Real Estate
The median home value in Loraine, IL is $97,500. This is lower than the county median home value of $145,600. The national median home value is $338,100. The average price of homes sold in Loraine, IL is $97,500. Approximately 77.05% of Loraine homes are owned, compared to 12.57% rented, while 10.38% are vacant. Loraine real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Loraine real estate agent to arrange a tour today!
Loraine, Illinois has a population of 373. Loraine is less family-centric than the surrounding county with 16.67% of the households containing married families with children. The county average for households married with children is 27.52%.
The median household income in Loraine, Illinois is $51,397. The median household income for the surrounding county is $58,587 compared to the national median of $69,021. The median age of people living in Loraine is 55.4 years.
Loraine Weather
The average high temperature in July is 86.8 degrees, with an average low temperature in January of 16.4 degrees. The average rainfall is approximately 39.6 inches per year, with 17.8 inches of snow per year.