$699,900 $3,757 est/mo Sourced by Back At You

228 S State Street,Marengo, IL 60152

Marengo IL, 60152

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Description

Mixed-use property situated in Marengo's central business district allowing for many options. Property allows for rental investment, restaurant/store/office below, & live above. Presently, a fully functioning restaurant & bar with 5 gaming machines, occupies the first floor. The restaurant business has a liquor license and gaming license. Sale includes the restaurant & bar equipment currently being used to operate the business. This includes: prep & cooking equipment, coolers, tables & chairs, flat top grills, deep fryers, freezers, dishes & flatware, etc... Restaurant seats 75+ people (interior) and 25+ on the patio (exterior). Upstairs, you'll find three residential apartments. Situated at the corner of State St and Grant Highway in the Central Business District. High visibility with high traffic count. On-street parking in the front and in the rear you'll find a city-owned public parking lot for free parking for up to 50 cars in the rear. Accessible from the rear courtyard and the front entrances. Quick & easy access to Interstate 90 via newly constructed access ramps. Building is in good condition and move-in ready. Nicely remodeled units throughout. The exterior has been freshly painted. Well-illuminated exterior for better visibility. The lower level houses a walk-in cooler. Low maintenance and low on-going expenses. Central heating & air conditioning for the first floor. Electric baseboard heaters for the second floor. Separate utilities throughout. Good rental income (though rents could be increased). Fully occupied with leased tenants. Property includes separate PIN for adjacent lot to accommodate outdoor patio space. Currently owned by the same owner for the last 35 years. Steps to restaurants, bars, shops, and more!

Details

MLS#11897761
Listing TypeFor Sale
StyleMixed Use
Sub-TypeResale
StatusActive
Year1900
Days On Site235
Listing Provided By@properties Christie's International Real Estate | Kevin Carroccia

Features

Story(s)2
Units4
ZoningCOMMR

Market Activity 60152

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Learn More About This Property

StateIL
CountyMc Henry
CityMarengo
Zip Code60152
AreaHarmony | Marengo
Listing VS Median (in 60152)
Price:
$699,900
low | high
Med:
$404,190
92.250321474496% of Average
On Site:
235
low | high
Med:
163.000000
100% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 7:10:49 PM PDT