Address
506 N Hanover, Okawville, IL
Price
$ 597,000
Property Attributes
  • MLS#23028601
  • TypeContingent
  • CountyWASHINGTON-IL
  • CityOkawville
  • Zip62271
  • StyleRestaurant,Motel/Hotel
  • Year Built1893
  • Taxes$ 20546
  • Price$ 597,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage20323
  • Lot Size2.65 Acres
Data Source:
Mid America Regional Information Systems (MARIS)
Property Description

Located in the heart of historic Okawville, approximately 44 miles southeast of Downtown St. Louis, the Original Springs Hotel was established in 1867. The last remaining mineral springs in Illinois, it has 4 separate wells on the property. The mineral water was bottled and sold unitil early 2000s. Production could potentially be resumed by buyer. Famous for it's mineral bathhouse and spa which boasts 8 large private bath tubs for guests to soak in, private showers, massage roooms and a swedish dry heat sauna. There are 36 private guest rooms, a 3 bedroom apartment within the building, office space, a conference room, banquet hall, bar/lounge, restaurant and outdoor beer and wine garden area. It features a 30,000 square foot indoor heated pool beneath a large skylight. 2.65 acres total, including 1.65 acres behind the hotel featuring a gazebo in a partially wooded lot. This property features an abundance of potential and property is listed on National Register of Historic places.

Price History
6/17/2023 Listed $730,000
9/28/2023 8% - $675,000
12/28/2023 12% - $597,000

General Features

Sewer Other,Public Sewer,Sewer Main - 12 Inch
Heating Forced Air,Radiant Floor
Cooling Wall Unit(s),Electric
Utilities Cable Available,Electricity Available,Gas to Site,Water Available,Sewer Available,Phone Available
Possession Close Of Escrow
Roof Flat,Metal
Zoning TIF
Construction Materials Conventional
Year Built 1893
Electric 220 Volts,Three Phase
Property SubType Commercial & Indr.
Tax Year 2021
Current Use Two Stories,Restaurant,Other,Bar/Tavern,Motel/Hotel,Professional Service
County Washington-IL
Net Operating Income 174055
Property Type Commercial Sale
Attached Garage No
Subdivision Name none
Possible Use Restaurant,Motel/Hotel
Directions I64 to Okawville,IL exit to E High Street to N Hanover Street
City Okawville
Disclosures Unknown,No Other Known Restr
Lot Size Square Feet 115434
Street Name Hanover
Tax Annual Amount 20546
Ok to Lease None
Days on Market 223
Standard Status Active Under Contract
Building Square Footage 20323.00

Interior Features

Heating Y/N Yes
Above Grade Finished Area 20323
Above Grade Finished Area Source Public Records

Exterior Features

Parking Features Other,Parking Lot,Asphalt
Water Source Public,Water Main - 4 Inch,Water Main - 8 Inch
Inclusions Building & Business,Some Equipment,Some Fixtures,Some Inventory
Lot Dimensions irregular
Lot Size Acres 2.65
Lot Size Source County Records
Road Frontage Type City Street

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 62271

Price
AVG $340K
$600K
Taxes
AVG $11,145
$20,546
Visits
AVG 46
48
Data Provided by Inside Real Estate®
Year Built
AVG 1920
1893
Walkscore
AVG 43
43
Data Provided by Walkscore® not using MLS data

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