519 E State St (Irish Rose Saloon) 519 E State St

Freestanding Restaurant & Bar w/Property - Downtown Rockford, IL!
Incredible opportunity to purchase an historic two-story mixed use commercial building with a restaurant & bar on the first floor, two apartments on the second floor (one finished and one partially finished - which can be leased out for additional income) and a full basement.
The ground-floor space is fully equipped with a professional kitchen line, a walk-in cooler and a full-service bar. Perfect for a new concept or revival of the restaurant. Current owners successfully operated a thriving restaurant & bar (the iconic Irish Rose Saloon) at this location for many years, a testament to the building’s ability to draw crowds. It’s primed for someone to capitalize on the existing infrastructure in a vibrant downtown environment.
This 4,100 sqft structure includes two apartments above the restaurant and bar, plus a basement. One apartment was previously used as an Airbnb, providing a stream of short-term rental income. The second apartment, directly above the restaurant, can easily be converted into a spacious two-bedroom unit. Both apartments have outdoor, separate entrances - offering privacy and flexibility. The two-bedroom unit features a large living room, kitchen, bathroom and an additional room that can be used as a bedroom or office.
Ideal for potential buyers looking to tap into a dynamic urban environment with historical charm, this corner building offers both an exceptional location and built-in amenities to facilitate a smooth transition to operations or redevelopment.
Location: Prime retail space on E State St (Route 20) and S 3rd St (Kishwaukee St/Route 251). Positioned at a highly visible corner in downtown Rockford, this property benefits from excellent foot traffic and accessibility. The area is known for its walkability, with a mix of retail, restaurants and businesses creating a vibrant urban atmosphere. City parking lots are conveniently located directly outside the building, with ample street and lot parking available nearby.
Perfectly situated in vibrant downtown Rockford, an area that has seen significant revitalization over the past decade, making it a hub of activity for locals and visitors. The property is situated near local landmarks, thriving businesses and cultural venues, contributing to a strong community vibe and drawing consistent traffic. The area’s walkability adds to its charm, with coffee shops, restaurants, and entertainment options just steps away.
Property Information: Built in 1900. Adjacent to a city parking log. On .8213 acres or 3,485 sqft of land. Zoned C4. Real estate taxes $6,160/yr.
Square Feet: 4,100.
Seating: 78.
Days/Hrs of Operation: Currently closed.
Gross Sales: (Property For Sale).
Net Operating Income: (Property For Sale).
Value of FF&E: Included In Asking Price (Valued at $75,000).
Value of Inventory: Not Included In Asking Price.
Seller Financing Available: No.
Reasons for Selling: Retiring.
Competition/Market: Its C4 zoning offers flexibility for various commercial uses including restaurants, bars, retail & mixed-use developments. This zoning makes it attractive to investors looking for opportunities in hospitality, dining, entertainment & more.
And with its large square footage, excellent location & flexible zoning, this property offers tremendous potential for a savvy investor. Whether you’re interested in reopening the restaurant or exploring a new mixed-use venture, this is a unique opportunity in an up-and-coming downtown district.
Growth & Expansion: Rockford’s downtown area has undergone a renaissance in recent years with a renewed focus on business development, arts and entertainment. State St serves as a key artery of the downtown district, connecting various commercial and cultural hotspots. With initiatives to further enhance the area, properties like this offer investors a chance to be part of this growth. As more businesses and residents flock to the area, the demand for dining, retail and entertainment options continues to rise!
Feel free to stop by the location first. This is a HIGHLY confidential listing. If interested, contact EatZ for more information. Showings by appointment only outside of business hours.
Listed by Ted Aretos at EatZ & Associates/Eatz Real Estate Group LLC