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.
© Copyright 2025 RMLS Alliance. All rights reserved. This information is provided for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties in which they may be interested in purchasing. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of RMLS Alliance. Real estate listings held by brokerage firms other than Happel Inc., Realtors are marked with the RMLS logo and detailed information about them includes the name of the listing brokers.The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals. The offer is made only to Participants of the MLS where the listing is filed.
The RMLS data on this page was last updated on Thursday, February 27th, 2025.
Listed by: Happel, Inc., REALTORS Office: 217-224-8383
Data services provided by IDX Broker
View full listing details | Price: | $355,000 |
| Address: | 307 N MAIN Street |
| City: | Loraine |
| County: | Adams |
| State: | Illinois |
| MLS: | CA1026516 |
| Square Feet: | 12,320 |
| Acres: | 5 |
| Lot Square Feet: | 5 acres |
| levels: | One |
| forSale: | Yes |
| taxYear: | 2022 |
| forLease: | No |
| apptPhone: | (217) 440-3100 |
| inputType: | CIE |
| agentOwned: | no |
| directions: | Hwy 61 to County Rd 1500 E, head North on Maine St past E Center St. Building sits on the West side of North and Main St. |
| lvtDateMLS: | 2023-12-19 |
| locationMLS: | Rural |
| possibleUse: | Bar/Tavern, Investment |
| buildingName: | Outskirts Bar & Venue |
| frontageType: | City Street |
| parcelNumber: | 06-0-0171-000-00 |
| availableSqFt: | 12320 |
| assetsIncluded: | All Furniture, selected Equipment, and Contents |
| irregularLotYN: | no |
| searchPriceMLS: | 355000 |
| listOfficePhone: | 217-224-8383 |
| taxAnnualAmount: | 2047 |
| currentFinancing: | Cash Only, Conventional, Negotiable |
| handicapModified: | Yes |
| listingAgreement: | Exclusive Right To Sell |
| 100YearFloodPlain: | No |
| firstPhotoAddDate: | 2023-12-19T20:19:49.7 |
| documentsAvailable: | Aerial Photos, Legal Description |
| maxCeilingHeightFt: | 19 |
| minCeilingHeightFt: | 10 |
| agentRelatedToOwner: | no |
| confidentialListing: | MLS Listing |
| saleLeaseIncludesMLS: | Building,Business |
| addressSearchNumberMLS: | 307 |
| actualNetOperatingIncome: | -2047 |
| listingVisibilityTypeMLS: | MLS Listing |
| undergroundStorageTankYN: | no |
| agentIsDesignatedManagingBroker: | no |
