120 N Illinois Street
Lake City, IA, 51449 $ 110,000
Bedrooms-- Baths-- Monthly Estimate*
$ 677
for $110,000. 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.
See more
FeaturesGeneralSewer 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
See more
ExteriorParking Features On Street
Water Source City Water - In Street
Lot Dimensions 124'X 44'
See more
* Excluded FeaturesList ByEmily MelodyListing Agent
Exit Realty FrontierBroker
saleswithemily@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $677
- Monthly Property Taxes
- $199
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% 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.
Learn more about how to save NearbyAbout Lake City, IA 2,054 Population
-8% Since 2002
$ 44,750 Median Income
47.71 Median Age
21% Households with Children
Trends Information provided by ATTOM Data Solutions.
2872932 Elementary School
2872966 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 1/16/2026 | $110,000 | -4.35% | Price Down |
| 6/17/2025 | $115,000 | -4.17% | Price Down |
| 4/28/2025 | $120,000 | | Listed Price |