Turnkey Historic Hotel + Restaurant + Prohibition Tunnels — Spillville IA

Description:

You cannot build this. You can only buy it.

An 1871 building on the National Register of Historic Places, in the heart of Spillville, Iowa — running right now as a turnkey boutique hotel, restaurant, and two bars. Beneath the bar sit hand-laid limestone tunnels where guests dine in booths under a vaulted stone ceiling. Local legend says those tunnels were used for bootlegging during Prohibition — and the building leans into it, with mafia-era photographs displayed throughout and an Al Capone / Templeton Rye connection that's pure Iowa history.

Three income streams under one roof:

7-room boutique hotel — fully furnished, live on Airbnb & VRBO with real bookings and reviews
Full restaurant + two bars — main bar and tunnel dining downstairs, a second bar upstairs in a room with the feel of a grand old hotel lobby (Chicago stained glass, New York chandeliers, hand-painted speakeasy mural)
Full commercial kitchen — all equipment included, plus a recently purchased new fryer

Sold COMPLETELY TURNKEY — fully furnished, equipment included, staff in place, even the historic artifacts convey (including a large Dvořák painting and the mafia-era photo collection). Walk in and operate day one. On-site owner/manager living quarters included.

Price: $379,000
Seller financing available for qualified buyers
Certified historic — Iowa 25% + Federal 20% Historic Tax Credit eligible (buyer to verify)
1871, three levels, on the National Register of Historic Places

This is in the Driftless region of northeast Iowa — trout streams, hiking, biking, and river bluffs, with Decorah minutes away. Owning this isn't just a business; it's a whole way of life.

Motivated seller. The only property of its kind on the market. Serious inquiries — full offering package and private tour available.

Josh — 319.929.1172 — josh@streamline1.com

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