The former Little Owl in Geneva, under new ownership, is for lease and poised for the right tenant.

Located at 101-105 W. State St., at the corner of Illinois Routes 31 and 38 downtown, the iconic building has been vacant since it closed in August 2019. A succession of owners, possible owners, economic investment and various restaurant plans did not result in a restaurant opening.

Adam Fortino of the Fortino Real Estate Group of Naperville said the for rent sign went up in late May – and there has been serious interest.

“There’s still a lot of finishing touches in the space that need to be done,” Fortino said. “It’s all drywall, taped and ready for primer. ... There’s serious interest, but no one I would disclose.”

The location is being advertised as a 6,075-square-feet, built-to-suit restaurant space with 131 seats and a central bar. The main level is 4,251 square feet, with a 1,824-square-foot lower level for cold storage, preparation space and back-of-house efficiency.

The cost of rent will be flexible, based on what a prospective tenant would put into the building, Fortino said.

“We’re leaving it subject to an offer and kind of play with the numbers, depending on the tenant’s needs and what the tenant would be willing to contribute themselves,” Fortino said.

If the landlord contributes more, then the rent would be more. If the tenant contributes more, then the rent would be less, Fortino said.

“Theoretically, it could be any retail, but it’s now set up as a restaurant,” Fortino said.

The owner is also rehabbing the second floor apartments to be five short-term vacation rentals, Fortino said.

St. Charles resident Dean White bought the property for $1.1 million in January 2025, records show, through the entity West Roosevelt Investments LLC, records show.

Known as the historic Wrate Block building, the two-story former Little Owl began as a wood-framed structure circa 1837, two years after Geneva was established in 1835, according to the city’s historical records.

The wood structure was replaced with the current limestone building in 1853.

The Arbizzani family operated it as The Little Owl from 1947, adding Flagstone as an addition in 2007, before its closure in 2019.