201 N Main St Elkader, IA 52043
Estimated payment $3,606/month
About This Home
Own a piece of Elkader’s charm in this historic building operating as a retail/cafe and 4 short term overnight suites on the second floor. Completely remodeled. All new utilities and furnishings. Located on a prominent corner just steps from the Turkey River. Purchase as is, or divide the main floor space into two storefronts to create even more revenue sources. Upstairs, the four fully furnished units short term rental units generate steady income and attract travelers seeking comfort, character, and access to the area’s scenic beauty. Guests and patrons alike enjoy walking to restaurants, shops, the Opera House, and the iconic Keystone Bridge. From kayaking and fishing on the river to hiking the Driftless Region, adventure is at your doorstep. A turnkey opportunity combining income, location, and small-town charm Located on the northwest corner of N Main St. and Cedar St. If buyer purchases as a turnkey business all items are negotiable. Two websites, all furnishings, linens, towels, kitchenware will remain with the 2nd floor suites. Pre-qualified buyers with lender approved paperwork. Upon implemented NDA, sellers will release income and sales figures. Business websites:
Property Details
Property Type
- Other
Est. Annual Taxes
- $4,142
Year Built
- Built in 1895
Lot Details
- 6,098 Sq Ft Lot
- Sprinkler System
- Property is zoned Commerical/Residential
Parking
- On-Street Parking
Home Design
- Mixed Use
- Brick Exterior Construction
- Plaster Walls
- Rolled or Hot Mop Roof
- Rubber Roof
- Stone Exterior Construction
Interior Spaces
- 6,956 Sq Ft Home
- Carpet
- Unfinished Basement
- Basement Fills Entire Space Under The House
Utilities
- Forced Air Heating and Cooling System
- Gas Water Heater
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $4,556 | $208,860 | $18,150 | $190,710 |
| 2024 | $4,142 | $182,290 | $16,500 | $165,790 |
| 2023 | $3,142 | $182,290 | $16,500 | $165,790 |
| 2022 | $2,972 | $120,350 | $15,000 | $105,350 |
| 2021 | $2,374 | $120,350 | $15,000 | $105,350 |
| 2020 | $2,374 | $97,525 | $17,840 | $79,685 |
| 2019 | $2,274 | $97,525 | $17,840 | $79,685 |
| 2018 | $2,274 | $93,185 | $17,061 | $76,124 |
| 2017 | $2,292 | $93,185 | $17,061 | $76,124 |
| 2015 | $1,992 | $86,845 | $15,900 | $70,945 |
| 2014 | $2,314 | $86,845 | $15,900 | $70,945 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/21/2025 10/21/25 | Price Changed | $623,000 | -10.2% | $90 / Sq Ft |
| 08/09/2025 08/09/25 | Price Changed | $694,000 | -7.5% | $100 / Sq Ft |
| 06/10/2025 06/10/25 | For Sale | $750,000 | -- | $108 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $125,000 | None Available | |
| Warranty Deed | $80,000 | None Listed On Document |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $182,590 | New Conventional |
Source: NorthWest Illinois Alliance of REALTORS®
MLS Number: 202503102
APN: 22-25-23-301-004
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