120 N Illinois Street Lake City, IA $ 115,000
120 N Illinois Street
$ 115,000
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120 N Illinois Street

Lake City, IA, 51449
$ 115,000
Bedrooms-- Baths--

Monthly Estimate*

$ 717

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Commercial Property for sale in Lake City, IA

for $115,000. This building was built in 1900.

Located on the square in Lake City’s charming downtown square, this beautifully restored Carnegie Library offers a unique opportunity to own a piece of history reimagined as a vibrant commercial space. Originally constructed in 1900 with a grant from Andrew Carnegie, this iconic building has been thoughtfully converted into a versatile retail space, previously operating as the Carnegie Café, a beloved restaurant and bar since 2003. The building retains its classic Carnegie architectural details, including high ceilings, large windows, and a stately brick exterior, while featuring extensive interior and exterior renovations completed in 2016 and updated in 2024. Currently configured as a retail space, the property has a proven track record as a successful restaurant and bar, with a themed menu and signature drink list inspired by literary classics. Its layout is adaptable for various business concepts, including office space, retail, dining, or event spaces. The main floor spans 1,833 square feet, offering ample room for customer seating, displays, or operations. A full basement (approximately 1,800 SF) provides additional potential for storage, office space, or a possible conversion into a living area. This property is ideal for entrepreneurs, restaurateurs, or retailers seeking a distinctive venue with a story to tell. Whether you envision a boutique shop, a cozy café, or a lively bar, the Carnegie Library is an unique opportunity in a picturesque small-town.

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Commercial Active

Price

$ 115,000

Property Type

Commercial

Taxes

$ 2,382

Style

Retail

Year Built

1900

Town/City

Lake City

County/Region

Calhoun

MLS | Web ID

6327054

Features
General
Sewer City Sewer/Connected
Heating Ductless
Utilities None
Garage Spaces 0
Architectural Style Retail
Construction Materials Brick
Year Built 1900
Tax Year 2025
Current Use Retail
Accessibility Accessible Elevator Installed
County Calhoun
Property Type Commercial Sale
Contingency None
Possible Use Lounge/Bar Restaurant
Status Active
Directions From Hwy 175 turn North onto Illinois St. Go 1 block it is sit
Association Name WCIR
Open Parking Spaces 0
Number Of Units Total 1
Lot Size Units Acres
Tax Annual Amount 2382
Living Area Units Square Feet
Standard Status Active
Legal Description O.T. BLOCK 4 N 44' LOTS 7 & 8 EX E 8' LOT 7
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Exterior
Parking Features On Street
Lot Dimensions 124'X 44'
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* Excluded Features
List By
Emily Melody

Listing Agent

Exit Realty Frontier

Broker

saleswithemily@gmail.com

Email

Affordability Calculator

$916
Per Month
78%
22%
0%
Monthly Principal & Interest
$717
Monthly Property Taxes
$199
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2872932 Elementary School
2872966 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
6/17/2025$115,000 -4.17% Price Down
4/28/2025$120,000 Listed Price

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120 N Illinois Street, Lake City, IA, 51449 is a Commercial Property for sale at $115,000. 120 N Illinois Street was built in 1900. The property's zip code is 51449 which is in Lake City, IA