Waverly, IL 62692 223 N Pearl Street

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Presented By: Tarrant and Harman Real Estate and Auction Co
  • MLS# 25046413
  • 07/10/2025
  • Request Tour
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  • SQFT • 7,000

Home Details

Restaurant-ready commercial property located directly on the Waverly town square. This approximately 7,000-square-foot property includes two connected, two-story buildings and is currently operating as an income-producing business. The south building dates to 1890, and the north building was constructed in 1901. The main level is equipped for restaurant or food-service use and includes a built-in grill, double freezers, vented exhaust systems, wine and bar refrigeration, dishwasher, ovens, and additional commercial kitchen equipment. Much of what is needed to begin operations is already in place, making this a strong option for a restaurant, bar, catering business, bakery, or similar concept. Each floor offers approximately 3,500 square feet. The unfinished upper level provides plenty of room for storage or future expansion and could potentially be developed into offices, event space, studios, or additional commercial space. Additional features include wood flooring, brick and metal siding, central air, forced-air heat, ceiling fans, full utility connections, a ramp entrance, and wide doorways. The property sits on approximately 0.15 acres in a visible downtown location with convenient highway access and is about 30 minutes from Springfield. The sellers are motivated and will consider all reasonable offers. This is an opportunity to purchase an established commercial property with restaurant infrastructure already in place and room to grow.
Presented By: Tarrant and Harman Real Estate and Auction Co

Interior Features for 223 N Pearl Street

Bedrooms

Total Bedrooms

Bathrooms

Half Baths

Other Interior Features

FlooringWood
Total Stories2

General for 223 N Pearl Street

AccessibilityAccessible Approach with Ramp, Accessible Common Area, Accessible Doors, Adaptable Bathroom Walls
AppliancesDishwasher, Exhaust Fan, Freezer, Built-In Freezer, Instant Hot Water, Ice Maker, Indoor Grill, Microwave, Oven, Range, Range Hood, Built-In Refrigerator, Free-Standing Refrigerator, Vented Exhaust Fan, Water Heat
Building Area UnitsSquare Feet
Building FeaturesBasement, Bathrooms, Delivery Door, Front Desk, Kitchen Facilities, Patio, Storage, Wi-Fi
Business TypeFood & Beverage, Hospitality, Restaurant
Carport Spaces
Carport Y/NNo
CityWaverly
Construction MaterialsBrick, Metal Siding
CoolingCeiling Fan(s), Central Air
CountyMorgan
Current UseRestaurant
DirectionsFrom Springfield, take I-72 West for about 15 miles. Take Exit 82 toward New Berlin and turn left onto Waverly Road. Continue west for approximately 10 miles. Turn right onto IL-104 and drive for 1.5
DisclosuresNone
ElectricAmeren
Full Baths
Gross Income405000
HeatingForced Air
Legal DescriptionRNG/BLK: TWP:0 SECT/LOT: CITY OF WAVERLY ORIGINAL TOWN 10FT S PT LT 7 AND 34FT N SD LT 8 BLK 13
Ownership TypePrivate
PossessionClose Of Escrow
Possible UseOther, Professional/Office, Restaurant
Property SubtypeBusiness
Property TypeCommercial Sale
Standard StatusActive
StatusActive
Subdivision NameNot in a subdivision
Tax Annual Amount1033
Tax Year2024
TopographyFlat
UtilitiesElectricity Connected, Phone Connected, Sewer Connected, Water Connected
Year Built1890

Exterior for 223 N Pearl Street

Building Area Total7000
FencingNone
Foundation DetailsStone
Lot Size Acres0.15
Lot Size SourcePublic Records
Number of Buildings2
Road Frontage TypeCity Street
Waterfront Y/NNo

Additional Details

Price History

Craig Ziegel

Realtor
Price $99,900
MLS#25046413
List Date 07/10/2025
Property Type Commercial
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