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307 N Main Street Loraine, IL 62349 • Commercial - Business • Active

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Description

Endless possibilities with this well-established bar and event venue situated on 5 acres in a peaceful rural setting! The impressive 12,320 sq ft building was formerly a school and now offers a unique blend of character and functionality. The bar area features stunning 19-foot ceilings and a gaming room, while the large event space in the back is perfect for hosting weddings, receptions, parties, and community gatherings. Geo-thermal heating and cooling provide energy efficiency year-round. Great opportunity to continue its legacy or bring your own vision to life!

Property Highlights

Property Type: Commercial - Business
Building Description: 1.0 stories
Available Sqft: 12320

General Information

County: Adams
Listed By:
Farlow Real Estate Experts Office: 217-641-2995
RMLSA
$239,900
Est. $1,569/mo
Active Price Reduced $10,000 on March 16th, 2026
SQUARE FEET12,320 MLS#CA1040471
STATUSActive PROPERTY TYPECommercial - Business
TOUR PROPERTY

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Thome Thome Homes
 (319) 363-5289

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307 N Main Street, Loraine, IL 62349.

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Loan Type 30 Year FixedFHA 30 Year Fixed15 Year Fixed
Purchase Price $239,900$239,900$239,900
Down Payment $47,980$8,397$59,975
Monthly Mortgage Amount $1,135$1,375$1,458
Taxes $334$334$334
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $0$105$0
Monthly Estimated Total $1,569$1,914$1,892

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