This Retail Property is Off-Market.

806 North Side Square
Clinton, IL 61727 ·

5,445 SF · Retail For Sale

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Maverick Family Steak House

Price N/A Property Use Type Vacant/Owner-User
Gross Leasable Area 5,445 SF No. Stories 3
Property Type Retail Year Built 1977
Property Sub-type
Specialty Center
More...
  • Office Building
  • Restaurant
  • Free Standing Bldg
Listing ID: 14323244 Date Created: 09/01/2005 Last Updated: 09/23/2005

Description

We are offering a magnificent solid brick building with outstanding interior features complete with exposed oak staircases and banisters. The oak interior is installed with elegance and functional beauty (see photos). There are three levels (all open) plus a finished basement. This building is well constructed with no expense spared. The open center area is well lighted from the numerous windows and two skylights. The building is finished with two very tall, huge windows at each end costing $20,000 each installed.

In 1973 this building was purchased by a local entrepreneur and business consultant who was a retired Bank President. Tasteful and expensive renovation was begun immediately. The building was given a thorough structural rebuild and extensive remodeling with elegant emphasis to the interior. Then in 1977 Gas Light Square was opened in grand fashion as an Antique Mall, Restaurant and Retail Specialty Shops. It was the showplace of Central Illinois. Then, in the early 1980 s, the owner fell into financial difficulties mostly due to cost overruns on this expensive building (spending over $600,000 to complete the work - - no exaggeration). (cont'd)

When it became clear the Cash Flow could not service the debt, the owner was forced to abandon the Gas Light Square and turn it back to the bank and the Feds (guaranteed loan).

Early in 1985 the building was purchased by a small chain of Restaurants and it was once more open for business, this time as the Maverick Family Steak House . It operated as such until about 3 years ago when it closed. The building has been unoccupied since.

The building is 5,446 SF (44 X 124 ) at ground level. There are three open levels plus a finished basement. This is a beautiful and sound building with a lot of possibilities such as the obvious restaurant, as a suite of office spaces, retail shops, clothing store (none in town) and other uses. Clinton needs a first-class restaurant. Liquor license can be obtained, if desired.

When this was the home of Maverick Family Steak House the local Rotary and Kiwanis Clubs and other organizations used the basement as their regularly meeting place. These were good meeting rooms and the atmosphere was wonderful.

The downtown location adds to its function and options in diversity of use. Plenty of parking.

Highlights

  • Exceptionally beautiful interor
  • Solid building with abundant natural light
  • Many possibilities
  • Good locaton at Bargan price
  • Possible financial help from local Economic development Group
  • Easy access for loading merchandise and supplies with rear customer entrance

Research

806 North Side Square, Clinton, IL 61727 (DeWitt County)

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