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$699,900 Just Listed

  • For Sale
  • Active
  • Commercial Service
  • 5,570 Sq. Ft.
  • Updated 37 minutes ago
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PRIME LOCATION IN THE HEART OF LOVES PARK - INCLUDING 3 ADDITIONAL LOTS! Opportunity awaits at 5040 N. Second Street Loves Park, Il! Established Restaurant is situated along one of the area's well-traveled corridors, this property offers excellent visibility, accessibility, and endless possibilities! The sale includes three additional lots, bringing the total land area to approximately 0.85 acres! This generous amount of land provides added flexibility and exciting opportunities for future expansion, development, or investment. Conveniently located near surrounding businesses, shopping, dining, and major roadways, this property offers an ideal setting for those looking to establish a new business, expand existing operations, or invest in a desirable Loves Park location. With its prime location, additional land, and tremendous potential, this is an opportunity you won't want to miss! Tiff district grants available!

Full Property Details for 5040 N 2nd St

General

  • Price: $699,900
  • Taxes: $13,960 (2025)
  • Status: Active
  • Type: Commercial Service
  • Source: MRED
  • MLS ID: 12783463
  • Updated: Today (10/12/2026)
  • Added to Site: Today

Additional Information

  • Security/Safety: Carbon Monoxide Detector(s)

Location

  • Area: Loves Park
  • County: Winnebago
  • Township: Harlem
  • Driving Directions: Riverside Blvd, N. Second South to Property
  • Location Details: Central Business District

Heating & Cooling

  • Cooling Type: Central Air Conditioning
  • Heating Type: Forced Air, Gas

Structural Information

  • Construction: Wood
  • Exterior Const.: Wood
  • Stories/Levels: 2
  • Square Feet: 5,570
  • Year Built: 1936

Lot Features

  • Lot Size (Acres): 0.85
  • Lot Dimensions: 150 x 50 x 150 x 50
  • Zoning: COMMR

Financial Considerations

  • For Sale/Rent/Lease: For Sale Only
  • Assoc Fee Freq.: Annually
  • Operating Expenses: $13,961
  • Security Deposit: Carbon Monoxide Detector(s)
  • Assessment Year: 1936
  • Tax Amount: $13,960
  • Tax Year: 2025

Disclosures and Reports

  • Property ID: 1112281013

Listed by Weichert Realtors - Tovar Prop

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— 5040 N 2nd St —

  • Weichert Realtors - Tovar Prop

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NMLS#: 1598647

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Schools serving 5040 N 2nd St

School District:Harlem Unit School District 122
NameGradesDistance
Loves Park Elementary School
344 Grand Avenue, Loves Park, IL 61111
1-60.6 mi
Donald C Parker Early Educ Center
808 Harlem Road, Machesney Park, IL 61115
PK-K2.5 mi
Harlem Middle School
735 Windsor Road, Loves Park, IL 61111
7-81.4 mi
Harlem High School
9229 North Alpine Road, Machesney Park, IL 61115
9-124 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 5040 N 2nd St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
10/12/2026
Listed
$699,900
160.63%
MLS
10/09/2014
Sold
$268,545
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 5040 N 2nd St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$9,601
7%
$119,738
11%
2024
$8,951
5%
$107,456
13%
2023
$8,556
100%
$94,750
12%
2022
-100%
$84,689
9%
2021
$7,829
—
$77,654
6%
2021
$7,829
6%
$73,411
5%
2019
$7,394
-4%
$69,969
6%
2018
$7,728
3%
$65,940
4%
2017
$7,525
1%
$63,107
2%
2016
$7,448
-1%
$61,924
—
2015
$7,535
1%
$61,924
—
2014
$7,448
—
$61,931
-6%
2013
$7,450
3%
$65,793
-6%
2012
$7,246
—
$69,777
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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5040 N 2nd Street, Loves Park, IL 61111 (MLS# 12783463) is a Commercial Service property. 5040 N 2nd Street is currently listed for $699,900 and was received on October 12, 2026. Want to learn more about 5040 N 2nd Street? Do you have questions about finding other Commercial Service real estate for sale in Loves Park? You can browse all Loves Park real estate or contact a Coldwell Banker agent to request more information.

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