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803 Iron Horse Place
Monticello IL 61856 US

$550,000

Active Under Contract Listing ID 12221677
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$550,000

Active Under Contract Listing ID 12221677
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803 Iron Horse Place **FOR SALE: The Red Wheel Restaurant/Bar - Monticello, IL** Strategically positioned next to Best Western Monticello Gateway Inn and Circle K Truck Stop, and directly across I-72 from Rick Ridings Ford, Kirby Medical Center, and the Monticello Railway Museum. Situated just off I-72, Exit 166, this prime location offers excellent visibility and accessibility for both locals and travelers.**Property Details: Built:1999, Size: Approx. 5, 000 sq. ft., Seating Capacity: Total 280 (Dining: 220, Bar: 60, Outdoor Patio: Additional 50). **Bar Features:** 6 gaming machines, 1 jukebox, 1 ATM, 1 electronic dart board (All currently owned and managed by J new owner must secure their own gaming and alcohol licenses and agreements with J&J.) **Business Highlights: Turnkey Opportunity:All Kitchen equipment included (detailed list available), Gaming Revenue: Historical data accessible via the Illinois Gaming Board website, Stable Operation: 22 years of successful business, Growth Potential: Current operating hours are until 8 PM daily, despite local ordinances allowing later service (until Midnight Mon-Thurs, 1 AM Fri-Sat, and 10 PM Sun). **Why Sell? The current owner is retiring after decades of operation, offering a golden opportunity for a motivated buyer to expand hours and tap into the bar's full potential. **Financials: Owner profit/loss statements are available upon request for qualified buyers. Don't miss this rare chance to own an established restaurant/bar in a thriving location!

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Property Features

  • Facts
  • Property Type: Commercial Sale
  • Property Sub-type: Other
  • Features
  • Cooling System: Central Air

Property

  • propertytype: Commercial Sale
  • propertysubtype: Other
  • listprice: 550000
  • unparsedaddress: 803 Iron Horse Place
  • postalcity: Monticello
  • stateorprovince: IL
  • country: US
  • postalcode: 61856
  • bathroomsfull: 0
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeunits: Acres
  • livingarea: 5000
  • livingareaunits: Square Feet
  • listagentfullname: Daniel Gordon
  • listagentemail: dangordon.hi@gmail.com
  • listagentkey: 3yd-MREDIL-952529
  • listagentmlsid: 952529
  • listagentpreferredphone: 2174935956
  • listagentofficephone: 2173734964
  • listofficekey: 3yd-MREDIL-95122
  • listagentstatelicense: 471022027
  • listofficemlsid: 95122
  • disclaimer: Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: MREDIL
  • listingcontractdate: 2024-12-30
  • listagenturl: http://www.realestatechampaign.com/realestateofficerealtor/champaign-il-61820-remaxrealtyassociates-id60240024.html
  • countyorparish: Piatt
  • parcelnumber: 05061800603613
  • cooling: Central Air
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 0
  • parkingtotal: 0
  • waterfrontyn: False
  • franchiseaffiliation: RE/MAX International
  • architecturalstyle: Other
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: False
  • internetconsumercommentyn: False
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"RE/MAX Realty Associate", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"dangordon.hi@gmail.com", "ListBrokerageCity":"Champaign", "ListBrokerageCountry":"US", "ListBrokerageEmail":"BillCraig@Remax.net", "ListBrokerageLogoUrl":null, "ListBrokerageName":"RE/MAX Realty Associate", "ListBrokeragePhone":"(217) 373-4964", "ListBrokeragePostalCode":"61820", "ListBrokerageStateOrProvince":"IL", "ListBrokerageUnitNumber":null, "ListBrokerageUnparsedAddress":"2009 Fox Dr", "ListBrokerageWebsiteUrl":"http://www.realestatechampaign.com/realestateofficerealtor/champaign-il-61820-remaxrealtyassociates-id60240024.html", "ListOfficeAddress1":"2009 Fox Drive - Suite G", "ListOfficeAddress2":null, "ListOfficeBrokerMlsId":"952401", "ListOfficeCity":"Champaign", "ListOfficeCountry":"US", "ListOfficeEmail":"darnell@darnellcox.com", "ListOfficePostalCode":"61820", "ListOfficeStateOrProvince":"IL", "ListPriceCurrencyType":"USD", "ListingTitle":"Business Opportunity - Monticello, IL", "ListingURL":"https://listings.listhub.net/pages/MREDIL/12221677/?channel=rexren", "MLSModificationTimestamp":"2025-10-04T17:19:01Z", "Neighborhoods":[{"Description":null, "Name":"Western Champaign County / Piatt & McClean Counti"}], "PostalCode":null, "RawPropertySubType":null, "RawPropertyType":"Business Opportunity", "RoomCount":null, "StateOrProvince":null, "Taxes":[{"TaxAnnualAmount":10167.9, "TaxDescription":null, "TaxYear":"2023"}], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 10/17/2025 1:33:02 AM GMT
Source Updated Date: 12/6/2025 6:55:43 PM GMT

Courtesy of: Daniel Gordon, RE/MAX REALTY ASSOCIATES-CHA, dangordon.hi@gmail.com

Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.