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$1 Auction - REIT Sale | Former Smokey Bones 2660 S Dirksen Pky 7,443 SF Retail Building Springfield, IL 62703 $175,000 ($23.51/SF)
Investment Highlights
- ABSOLUTE $1 AUCTION | Former Smokey Bones BBQ | Access to I-55/I-72 & 1,300 Hotel Rooms | AUCTION OCTOBER 19-21
- 160 Parking Spaces on Expansive Parcel - Large paved field, monument signage, and ±270 feet of frontage support flexible operations.
- Signalized Corner Near I-55 and I-72 - S. Dirksen Parkway exposure reaches ±11,704 VPD with interstate access about one mile away.
- Second-Generation Restaurant Opportunity - ±7,443 SF former Smokey Bones on huge ±2.27 acres offers built-in infrastructure for fast reuse.
- Hospitality Cluster Drives Customer Demand - More than 1,300 nearby hotel rooms and convention activity support recurring visitor traffic.
- Food-Service Buildout Ready for Reuse - Commercial kitchen, walk-in cooler/freezer, and dining areas can reduce startup needs for new users.
Executive Summary
Brokered by Marcus & Millichap, 2660 S. Dirksen Parkway in Springfield, Illinois is a vacant ±7,443 SF second-generation restaurant/retail building on ±2.2654 acres offered significantly below replacement cost, presenting an attractive opportunity for owner-users, investors, or developers to acquire a highly visible restaurant asset at an exceptional basis. Built in 1996 and formerly occupied by Smokey Bones, the Property features approximately 160 parking spaces, monument signage, ±270 feet of frontage along S. Dirksen Parkway, and existing commercial kitchen, dining, walk-in cooler/freezer, and restaurant infrastructure. The corridor carries ±11,704 VPD, with I-55 and I-72 approximately one mile away. CoStar reports retail market rents of approximately $15–$19 PSF NNN. B-1, Highway Business Service District zoning, provides flexibility for a variety of potential uses, subject to municipal approvals. Surrounded by 1,300+ hotel rooms and near the Springfield Convention Center, the Property offers strong potential for restaurant reuse, lease-up, owner occupancy, repositioning, or redevelopment.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,443 SF
Building Class
A
Year Built
1996
Price
$175,000
Price Per SF
$23.51
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
2.29 AC
Zoning
B-1 - Highway Business
Frontage
270’ on Dirksen Parkway
Amenities
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 22-12.0-127-055 | Improvements Assessment | $253,929 |
| Land Assessment | $312,270 | Total Assessment | $566,199 |
Property Taxes
Parcel Number
22-12.0-127-055
Land Assessment
$312,270
Improvements Assessment
$253,929
Total Assessment
$566,199
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