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About the Listing 17665 - 187206,245750
This is a fully-leased mixed-use property situated in Marengo's central business district. The property consists of a restaurant/bar and three 1BR apartments. The restaurant tenant will be signing a 3-year extension into 2028, with rent escalations each year. All three upstairs apartments are leased month-to-month and have long-term tenants who would like to stay. Situated at the corner of State St and Grant Highway in the Central Business District, this is a high visibility intersection. There is a city-owned public parking lot for 50 cars just behind the building, providing plenty of parking for patrons. The restaurant is accessible from the rear courtyard and the front entrance. Location allows for quick & easy access to Interstate 90 via the newly constructed access ramp. The restaurant business has a liquor license and can apply for a gaming license. The sale includes the restaurant & bar equipment currently being used to operate the business, which includes: prep & cooking equipment, coolers, flat top grills, deep fryers, freezers, etc.. 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. Central heating & air conditioning heat & cool the first floor, while electric baseboard heaters heat the second floor. There are separate utilities throughout. Excellent rental income (though apartment rents should be increased). Separate PIN (currently used as a 20'x68' outdoor dining patio) also available for purchase.
Listing Highlights for 228 S State St
Status
Pending
Days on Site
117
Property Type
Commercial Sale
MLS ®
12373188
Year Built
1900
Total Square Footage
0
Lot/Acreage
0.13
County
McHenry
Area
Harmony / Marengo
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond: Central Air,Window Unit(s)
- Heating: Electric,Forced Air
- Fireplaces:
- Floor: Varies
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Municipal Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 4004 SQ FT
- Zoning: COMMR
- Roof: Membrane
- Others:
- Sewer:
- Parking Features: 31-50 Spaces,Public Lot,Parking-Street
Financial Details
- Tax Amount: $7,176
- Taxes w/Assessments: N/A
- Tax/Property ID: 1135283015
- Tax Year: 2024
Payment Calculator
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Listing Location
Questions About..
228 S State St Marengo, IL 60152
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