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$ 650,000
Est. payment /mo
New
228 S State ST Marengo, IL 60152
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12779491
Year Built 1900
Annual Tax Amount $7,452
Tax Year 2025
Lot Dimensions 4004 SQ FT
Property Sub-Type Mixed Use
Property 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.
Location
State IL
County Mchenry
Area Harmony / Marengo
Zoning COMMR
Interior
Cooling Central Air, Window Unit(s)
Flooring Varies
Fireplace N
Exterior
Utilities Available Electric to Site
Roof Type Membrane
Building
Dwelling Type Mixed Use
Sewer Public Sewer
Water Municipal Water
Structure Type Brick,Wood,Combination
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Kevin Carroccia of @properties Christie's International Real Estate
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