210 & 211 N RIVER ST
Managing Broker, Principal
Dobreva Commercial, Inc.
JOSIE F ARENA-WISSINGER
Real Estate Broker, SFR, ADPR, CNAS
Century 21 Affiliated
TABLE OF CONTENTS 210 & 211 N River St, Montgomery, IL
CONFIDENTIALITY AND DISCLAIMER 1
BRIEF HISTORY 2
EXECUTIVE SUMMARY 3
INVESTMENT OVERVIEW 4
INVESTMENT HIGHTLIGHTS 5
DESCRIPTION OF IMPROVEMENTS 6-7
PRO-FORMA FINANCIAL SUMMARY 8
LOCAL MAP 10
ZONING MAP 11
FOODPLAIN MAP 12
REAL ESTATE TAX DATA 14-15
PROPERTY PHOTOS 16-23
LIST OF EQUIPMENT 24-26
CONTACT INFO 29
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to
be reviewed only by the party receiving it from Century 21 Affiliated and Dobreva Commercial, Inc. It should not be
distributed to any other party without the written consent of Century 21 Affiliated and Dobreva Commercial, Inc. This
Offering Memorandum was prepared to provide summary information which has not been verified and it should be used
only to establish a preliminary level of interest in the subject property. The information contained herein is NOT a substitute
for a thorough due diligence investigation. The Offering Memorandum is subject to errors, omissions, prior sale, withdrawal,
change and/or modification without notice. Century 21 Affiliated and Dobreva Commercial, Inc. have not made any
investigations, and makes no warranty or representation, with respect to the financial information for the subject property,
the future financial performance of the subject property, the size and square footage of the property and the improvements,
the presence or absence of any contaminating substances, PCBs, asbestos, the compliance with Local, State and Federal
regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any
tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. All estimates of market rents
and/or projected rents and pro-forma expenses that may be provided to a party do not necessarily mean that rents can be
established at or increased to that level or that the property can be operated at that expense level. Potential Buyers must
evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other
issues in order to determine rents and expenses from or for the property.
The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however,
Century 21 Affiliated and Dobreva Commercial, Inc. have not verified, and will not verify, any of the information contained
herein, nor have Century 21 Affiliated and Dobreva Commercial, Inc. conducted any investigations regarding these matters
and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
ALL POTENTIAL BUYERS MUST TAKE APPROPRIATE MEASURES TO VERIFY ALL OF THE INFORMATION SET
FORTH HEREIN. POTENTIAL BUYERS ASSUME ALL RISK OF ANY INACCURACIES OR INCONSISTENCIES. Legal
questions should be discussed with an attorney. Tax questions should be discussed with a certified public accountant or tax
attorney. Title questions should be discussed with a title officer or attorney. Questions regarding the condition of the
property and whether the property complies with applicable governmental requirements should be discussed with
appropriate engineers, architects, contractors, other consultants and governmental agencies.
By accepting delivery of the Offering Memorandum, the recipient agrees that neither he/she nor any of his/her employees
shall use the information for any purpose rather than evaluating the specific transaction described herein, or divulge such
information to any other party, and shall return the Offering Memorandum to Century 21 Affiliated and Dobreva
Commercial, Inc. upon request. This Offering Memorandum, in whole or in part, may not be photocopied, reproduced, or
distributed to others without the prior written consent of Century 21 Affiliated and Dobreva Commercial, Inc. .
Gray's Mill was originally constructed in 1853 right along and above the Fox River
to mill flour for Union soldiers in the Civil War. The building was used in many
different facets. It was the home of Daisey & White Rose Flour, which was
produced and exported from the mill in the building. There were also artesian
wells on the property that had the highest quality of water in the area. This is
where Hinckley & Schmitt bought and bottled their water. There is still one
functioning well on the property today. The mill was also operated to grind Mica ,
which was used in tires to disperse the heat to keep the rubber from melting.
The building was listed on the National Register of Historic Places on December
A full renovation was done on the property in 1996 – 1999. The Mill was open to
the public for use as a banquet facility. It won an award from Illinois Landmarks
Preservation Council in 2001.
The building was used for various retail establishments including an upscale
Italian and American eatery that opened in December 2011.
Gray’s Mill is one of the best examples of 1850 mill construction in the United
States. The Mill is one of the oldest structures in the Chicago land area at its
original location and its original condition.
210 & 211 N River St, Montgomery, IL
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from
Century 21 Affiliated and Dobreva Commercial, Inc. and should not be made available to any other person or entity without the written consent of Century 21 Affiliated and
Dobreva Commercial, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied,
as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies.
Asking Price: $850,000
Lease Rate: $6,000/month
Property Type: Mixed-use
Building Size (SF): 12,300
Land Area (SF): 52,752
Stories: 4 + Loft
Price per SF: $69.11
Wall Thickness: 3 feet
Electrical Service: ±1,200 Amps
Year Built: 1853
Years Renovated: 1996-1999, 2003
Zoning: MD Milldistrict
Parking: 75 cars
2017 RE Taxes: $6,709.22
Tax PINs: 15-32-433-001
Ceiling Height: 8’4’’ – 13’5’’
210 & 211 N River St, Montgomery, IL
Century 21 Affiliated and Dobreva Commercial, Inc. are proud to present an excellent opportunity for
an investor, owner-user, tenant or developer to acquire/lease with an option to buy a 12,300 square foot,
4-story with a loft, freestanding Historic 1853 Gray's Mill building, located on Fox River in Downtown
Montgomery, Illinois. The property is ideal for High-end Restaurant/Bar, Banquet Hall, Brewery,
Distillery, Winery, Bed & Breakfast, Retail, Boutique Hotel, Office Building, Mixed-use Development,
or Data Center (3 ft thick stone walls, ±1,200 Amps electrical service). It is also a perfect setting for
weddings, receptions, banquets and many other uses.
The property is situated on a 52,752 square foot site, accommodating parking for 75 vehicles (including
parking lot across the street).
The building is equipped with elevator, full bar and table seating on first floor, dining on second floor,
banquet facility on third floor, storage on fourth floor, attic/Loft on fifth floor and numerous restrooms.
The property also features fully stocked kitchen, walk-in cooler and freezer, custom made rotisserie
smoker wood with gas assist (holds five pigs, side smoker for fish - 10 racks with element cover). All
existing furniture, fixtures and equipment are included in price. There is an outdoor patio for weddings.
A full renovation on the property was done in 1996 - 1999. It was gutted to its primary structure.
Recent renovations were done in 2003, which consisted of attaching an adjacent building called the Pink
Cup to Gray’s Mill and converting it into a full kitchen in the upper level. The first floor was converted
into storage and kitchen for patio service.
The building is located across from Montgomery Village Hall and in close proximity to Rt. 30, Rt. 34 and
I-88. 211 N River St offers a unique chance to own a prime location with excellent visibility in the heart of
210 & 211 N River St, Montgomery, IL
• FOR SALE OR LEASE - Historic 1853 Gray's Mill on Fox River
• 12,300 square foot retail/restaurant property
• Ideal location for High-end Restaurant/Bar, Banquet Hall,
Brewery, Distillery, Winery, Bed & Breakfast, Retail, Boutique
Hotel, Office Building, Mixed-use Development, or Data Center
• 4-story with a loft, zoned: MD Milldistrict