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Hospitality Park Outlot - Former Hooters 3241 Horizon Dr 4,262 SF Vacant Retail Building Online Auction Sale Springfield, IL 62703
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Investment Highlights
- Subject opportunity presents a former Hooters restaurant with over 20 years of successful operations and an overflow parking lot parcel.
- Highly visible restaurant opportunity seen by more than 52,500 daily passing vehicles along Interstate 55, plus easy site access.
- Fully built-out interior with a commercial-grade kitchen, grease traps, spacious dining area, bar infrastructure, and freezer storage.
- Surrounded by major hotels and national dining chains such as Starbucks, Red Lobster, Panera Bread, Arby's, and Crowne Plaza Hotel.
- Positioned near key state government offices and employers, such as the Illinois Secretary of State, contributing to consumer spending.
- Robust 5-mile consumer spending power exceeding $1.1 billion annually, with the food and beverage subset generating the most spending.
Executive Summary
Coldwell Banker Commercial Devonshire Realty welcomes retail users to the incredible opportunity presented by the former national retailer, Hooters, with an added bonus of an extra lot for overflow parking at 3241 Horizon Drive in Springfield, Illinois.
The site has a rich history as the former home of Hooters, which successfully operated here for over 20 years. Now, it is presented to the market, ready for a new retail/ restaurant user to transform this coveted space into the next culinary hotspot, trendy shop, or essential service-based business, one that stands resilient in today’s internet-driven world.
Nestled in a beautiful hospitality park-like setting, this outlot offers easy access from S Dirksen Parkway and stunning sightlines from both Dirksen Parkway and the heavily traveled Interstate 55/72, where over 52,000 vehicles pass daily. It is perfect for the interstate traffic the property generates – passenger vehicles, fleet vehicles, and semi-trucks, among other travelers. With an impressive array of nearby amenities, including upscale hotels such as IHG, Marriott, and Wyndham, your business will attract a steady flow of business travelers and visitors. The subject's new user will enjoy proximity to a diverse dining scene, featuring popular names like Red Lobster, Applebee’s, and Starbucks, which will help attract foot traffic.
Springfield, the capital of Illinois, is the state's sixth-most populous city. The subject's 10-mile radius is home to a growing population of 170,564 residents with an affluent average household income shy of $100,000. The dense city has grown by 0.2% over the last five years and continues to see an influx, thanks to its stable quality of life and workforce opportunities. With major employers such as the Illinois Department of Transportation and the Secretary of State just minutes away, 3241 Horizon Drive's location taps into a consistent customer base eager for services.
Do not miss out on this rare opportunity, which guarantees business success in a prime location with tremendous potential.
Property tours are by appointment only. Please contact the listing broker to schedule.
The site has a rich history as the former home of Hooters, which successfully operated here for over 20 years. Now, it is presented to the market, ready for a new retail/ restaurant user to transform this coveted space into the next culinary hotspot, trendy shop, or essential service-based business, one that stands resilient in today’s internet-driven world.
Nestled in a beautiful hospitality park-like setting, this outlot offers easy access from S Dirksen Parkway and stunning sightlines from both Dirksen Parkway and the heavily traveled Interstate 55/72, where over 52,000 vehicles pass daily. It is perfect for the interstate traffic the property generates – passenger vehicles, fleet vehicles, and semi-trucks, among other travelers. With an impressive array of nearby amenities, including upscale hotels such as IHG, Marriott, and Wyndham, your business will attract a steady flow of business travelers and visitors. The subject's new user will enjoy proximity to a diverse dining scene, featuring popular names like Red Lobster, Applebee’s, and Starbucks, which will help attract foot traffic.
Springfield, the capital of Illinois, is the state's sixth-most populous city. The subject's 10-mile radius is home to a growing population of 170,564 residents with an affluent average household income shy of $100,000. The dense city has grown by 0.2% over the last five years and continues to see an influx, thanks to its stable quality of life and workforce opportunities. With major employers such as the Illinois Department of Transportation and the Secretary of State just minutes away, 3241 Horizon Drive's location taps into a consistent customer base eager for services.
Do not miss out on this rare opportunity, which guarantees business success in a prime location with tremendous potential.
Property tours are by appointment only. Please contact the listing broker to schedule.
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Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Miscellaneous
- Investigations
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Building Size
4,262 SF
Building Class
C
Year Built/Renovated
2001/2016
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.48 AC
Parcel Numbers
Zoning
B-1 - B-1, Highway Business Service District
Parking
95 Spaces (22.29 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Controlled Access
- Freeway Visibility
- Pylon Sign
- Restaurant
- Security System
- Signage
- Wheelchair Accessible
- Storage Space
- Air Conditioning
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
2,216
37,248
100,107
2020 Population
2,316
35,704
98,853
2030 Population
2,186
37,504
100,132
2025-2030 Projected Population Growth
-1.4%
0.7%
0.0%
Daytime Employees
4,691
27,094
88,828
Total Businesses
256
2,391
8,477
Average Household Income
$59,455
$73,242
$78,230
Median Household Income
$38,916
$54,798
$57,848
Total Consumer Spending
$21M
$382.4M
$1.1B
Median Age
42.3
39.1
40.6
2025 Households
968
15,458
44,249
Percent College Degree or Above
11%
13%
16%
Average Home Value
$156,979
$148,058
$169,880
$ values in USD
Nearby Major Retailers
Sale Advisor
Sale Advisor
Blake Pryor, CCIM, Vice President
Blake began his commercial real estate career in early 2012 as an intern in Springfield and Champaign. He obtained his Broker’s license upon graduating with his Bachelor of Science in Finance from the Gies College of Business at the University of Illinois at Urbana-Champaign in 2013.
Blake lives in Springfield, IL, and services the Greater Springfield area. He achieved the Circle of Distinction in 2021 (Silver Level), 2022 (Bronze Level), 2023 (Silver Level), and 2024 (Bronze Level), which recognized top-producing commercial agents among all CBC affiliates. He represents clients in Office, Retail, Industrial/Warehouse, Restaurant, Multi-Family, Self-Storage, Special Purpose, Hospitality, and Land Acquisition sale and lease transactions.
Blake serves on several Boards and Committees, notably as the Chairman of the Commercial Real Estate Network (CREN) within the Capital Area REALTORS ®, President of the M.E.R.C.Y. Communities Inc Board of Directors, President of the Downtown Springfield Inc Board of Directors, and Food & Beverage Chair of the Springfield Old State Capitol Art Fair. His professional memberships include the International Council of Shopping Centers (ICSC), the National Association of REALTORS ®, and the Illinois Association of REALTORS ®. His involvement extends to other philanthropic causes, including Rotary International, Illinois Innocence Project and the Community Foundation for the Land of Lincoln.
Blake lives in Springfield, IL, and services the Greater Springfield area. He achieved the Circle of Distinction in 2021 (Silver Level), 2022 (Bronze Level), 2023 (Silver Level), and 2024 (Bronze Level), which recognized top-producing commercial agents among all CBC affiliates. He represents clients in Office, Retail, Industrial/Warehouse, Restaurant, Multi-Family, Self-Storage, Special Purpose, Hospitality, and Land Acquisition sale and lease transactions.
Blake serves on several Boards and Committees, notably as the Chairman of the Commercial Real Estate Network (CREN) within the Capital Area REALTORS ®, President of the M.E.R.C.Y. Communities Inc Board of Directors, President of the Downtown Springfield Inc Board of Directors, and Food & Beverage Chair of the Springfield Old State Capitol Art Fair. His professional memberships include the International Council of Shopping Centers (ICSC), the National Association of REALTORS ®, and the Illinois Association of REALTORS ®. His involvement extends to other philanthropic causes, including Rotary International, Illinois Innocence Project and the Community Foundation for the Land of Lincoln.
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Matterport 3D Exterior
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Hospitality Park Outlot - Former Hooters | 3241 Horizon Dr
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