228 S State Street,Marengo, IL 60152
Marengo, IL 60152
Description
Excellent investment opportunity situated in Marengo's central business district. 228 S State property consists of a restaurant/bar and three 1BR apartments. Situated at the corner of State St and Grant Highway, this is a high-visibility intersection. Directly behind this property is a city-owned public parking lot for 50 cars, providing plenty of off-street parking for patrons. The restaurant is accessible from the rear courtyard and the front entrance. This location allows for quick and easy access to Interstate 90, via the recently constructed access ramp. The restaurant business has a liquor license and can apply for a gaming license. The building is in good condition and move-in ready. The exterior has been freshly painted and is well-illuminated for excellent visibility. The lowest level houses a walk-in cooler and storage. There are separate utilities throughout. Central heating & air conditioning heat & cool the first floor, while electric baseboard heaters heat the second floor. The restaurant's lease expires in 2029, reaching $4,000 by 2028. The sale includes the restaurant and bar equipment currently being used to operate the business, which includes: prep & cooking equipment, coolers, flat top grills, deep fryers, freezers, etc.. List of equipment available upon request. Most rents now reflect market rates, with value-added opportunities available.
Details
| MLS # | 12779491 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 9 |
| Listing Provided By | @properties Christie's International Real Estate | Kevin Carroccia |
Features
| Story(s) | 2 |
|---|---|
| Units | 4 |
| Zoning | COMMR |
Interior
| Cooling | Central Air, Window Unit(s) |
|---|
Exterior
| Roof | Membrane |
|---|---|
| Foundation Details | Concrete Perimeter, Stone |
| Construction Materials | Brick, Wood, Combination |
Utilities
| Utilities | Electric to Site |
|---|---|
| Sewer | Public Sewer |
| Electric | Circuit Breakers, Separate Meters, Service - 0 to 100 Amps, Power - 120V |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Annual Amount | 7452 |
Area Information
| State | IL |
|---|---|
| County | McHenry |
| City | Marengo |
| Zip Code | 60152 |
| Area | Harmony | Marengo |
| Listing VS Median (in 60152) | |
Price: $650,000 low | high Med: $373,990 On site: 9 low | high Med: 30 | |
Market Activity 60152
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Learn More About This Property
| State | IL |
|---|---|
| County | McHenry |
| City | Marengo |
| Zip Code | 60152 |
| Area | Harmony | Marengo |
| Listing VS Median (in 60152) | |
Price: $650,000 low | high Med: $373,990 On site: 9 low | high Med: 30 | |