120 W Union Ave, Litchfield, IL 62056

Property Description

Exceptional opportunity to own a versatile mixed-use commercial property situated along Route 16, a major thoroughfare offering outstanding traffic exposure and visibility. Currently operating as an indoor flea market and antique store, the property features **40+ active vendor booths** and fully functional retail spaces, making it an attractive investment for an owner-operator, investor, or entrepreneur seeking an established business opportunity. The seller is willing to transition existing business operations to a qualified buyer, offering the potential for a turnkey operation. Alternatively, the flexible commercial layout allows for the space to be divided into two individual storefronts or reconfigured to accommodate a variety of future commercial uses. The property also offers private off-street customer parking, adding convenience and accessibility for shoppers and visitors. Separate access to upstairs, discover a beautifully modernized and renovated apartment featuring stunning hardwood floors and an open-concept living space. This additional living area provides an excellent opportunity for supplemental rental income or convenient owner occupancy. An operational elevator and dumbwaiter add functionality and accessibility to the building. Further enhancing the property's investment potential, individual spaces are separately metered. Two additional upstairs spaces have existing electrical and water rough-ins, providing an opportunity to develop additional apartments or expand the property's income-producing capabilities, subject to applicable approvals and permitting. The seller is willing to review existing plans and discuss the property's potential with prospective buyers, helping them envision the many possibilities this unique property has to offer. A rare opportunity to combine commercial retail, an established vendor-based business, residential income, and future expansion potential in one highly visible Route 16 location.** Whether you are looking to operate an existing business, expand your investment portfolio, or reimagine the space to suit your vision, this property offers flexibility, functionality, and significant upside potential.