• Walworth County
  Elkhorn, WI
• Property Type: Commercial Property
• Interior Space: ± 13,702 SF
• Lot Size: ±3.57 acres
• Transaction Fee: 5%

FRE Auctions and REAL Broker are proud to present an exclusive Online Auction event for a turnkey restaurant and event venue in Elkhorn, WI.

Sperino’s Italian Restaurant and Event Center has been a beloved restaurant in Elkorn since 1967. With ±13,702 SF on ±3.57 Acres the restaurant offers a turnkey opportunity for a new owner.

The ±13,702 SF facility operated continuously as an Italian restaurant, banquet hall, and catering operation since 1967, offered now with all FF&E included: full commercial kitchen, bar, dining room, and complete banquet inventory. Operations officially ceased December 17th, 2022.

The kitchen was built to plate 350 dinners at capacity and supports off-site catering, drop-off meal service, and on-site events from a single footprint. The banquet room seats 350 with a dedicated guest entrance separate from the restaurant, allowing catered events to run without interfering with kitchen production or restaurant service. The banquet room also features a private standalone bar. 197 on-site parking spaces accommodate delivery fleets, event staff, and full-capacity guest loads without spillover.

Configuration

The building is configured with fully separated restaurant and banquet operations, each with its own entry, foyer, dining area, and restroom facilities, allowing simultaneous or independent operation of the two revenue centers. Multiple production kitchens support parallel workflows across on-site events, restaurant service, and off-site catering.

Location

Positioned on STH 67 (N. Wisconsin Street, ~8,300 VPD per WisDOT) with less than one mile to the US 12 and I-43 interchanges, providing efficient truck routing for off-site catering across Walworth County and the Lake Geneva, Delavan, East Troy, and Williams Bay markets. B-2 Community Business zoning supports catering, restaurant, event, and most commercial uses by right. Partial basement provides additional dry storage or prep space.

Elkhorn serves as the county seat of Walworth County, providing a predictable daily migration pattern. Walworth County serves as a central hub between major metro areas (Milwaukee, Chicago, Madison). Walworth County has a median household income of $80,520 and a population of 106,131.

Building Details

• Sperino's (Little Italy and Pepperoni Pub) had new roof installed around 2005
• Monte Carlo Room roof is original but has consistently been maintained
• Water heater is property of E&D Waterworks of Janesville and is leased
• Grease trap is estimated to be a 3 to 5-gallon size, spent grease is recycled every 2-3 weeks
• Insurance ~$8,812 annually
• Fully operational utilities ~$29,743 annually (from 2021)

Event Venue "Monte Carlo Room"

• 350-person capacity
• Detached full bar
• 300 upholstered stacking chairs
• 29 round tables
• 16 ft projection screen with ceiling mounted projector
• Full sound system
• Portable stage risers

Dining Area "Little Italy"

• 100-person capacity

Bar "Pepperoni Pub"

• 80-person capacity
• 11-line glycol beer system installed new in 2014

Equipment

FF&E includes a commercial kitchen sized for volume production: 16 burners across Vulcan and Garland ranges, Blodgett double convection oven, two Groen steam kettles, three Frymaster fryers, two Bakers Pride pizza ovens, Hobart mixer and slicer, Alto Shaam warming cabinet, and 12 portable hot and cold catering caddies. Full inventory available in the Downloadable Documents section.

Sold in as-is condition with all FF&E included. Liquor license requires new application through the City of Elkhorn.