822 N Illinois St
Indianapolis, IN 46204
Event Center & Restaurant/Bar For Sale! · Retail Property For Sale
Investment Highlights
- Sale includes real estate, business, liquor license, events venue and all equipment
- 4660 +/- Sq ft of gross building area
- Multiple finance options
- 150 Guest capacity outdoor venue with stage in addition to restaurant capacity
- 0.36 +/- Acres with site improvements
- Prime location & loyal experienced, and knowledgeable staff
Property Facts
Amenities
- Restaurant
- Air Conditioning
About 822 N ILLINOIS ST , INDIANAPOLIS, IN 46204
Located at 822 N Illinois St. and 815–817 Muskingum St., this rare 0.36± acre offering includes three contiguous parcels in a high-visibility location near downtown Indianapolis. The property features two versatile buildings currently operating as Downtown Olly’s and Backyard at Olly’s—a popular bar/restaurant and adjacent event venue with a covered patio totaling approx. 4,600 SF. Site highlights include on-site parking, asphalt drives, secure fencing, and attractive urban landscaping. Zoned CBD-2 (Central Business District) and RC (Regional Center), the location supports a range of commercial uses and offers exceptional redevelopment potential. Downtown Olly’s is a well-established, highly profitable business and beloved community hub. Known for its inclusive, welcoming atmosphere, it serves as a safe, vibrant space where people from all walks of life come together to relax, connect, and celebrate diversity. Whether you’re looking for a turnkey investment or a unique property with strong upside, this opportunity combines real estate value with a thriving brand in the heart of Indy. Seller Financing Available to Qualified Buyers!
Property Taxes
| Parcel Number | 49-11-02-226-032.000-101 | Improvements Assessment | $220,200 |
| Land Assessment | $206,800 | Total Assessment | $427,000 |
Property Taxes
