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sales rep | Brivity IDX

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228 S State St , Marengo, IL 60152
$650,000
Est. Payment: $3,547.32/mo
0.13 Acres
Status: active | Days on site: 7
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17665 - 187206
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House 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.

Highlights

Listed by Kevin Carroccia , 312-493-3310 @properties Christie's International Real Estate , 312-682-8500. Midwest Real Estate Data mls logo

Property Type

Commercial Sale

Lot/Acreage
0.13

Year Built

1900

County

McHenry

Area

Harmony / Marengo

Listing ID

12779491

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Interior Features

Air Cond:Central Air,Window Unit(s)
Fireplaces:
Floor:Varies
Water:Municipal Water

Exterior Features

Lot Dimensions:4004 SQ FT
Zoning:COMMR
Roof:Membrane
Sewer:Public Sewer
Parking Features:31-50 Spaces,Public Lot,Parking-Street
Principal Interest
$3,547
Taxes
$621

Home Price

$650,000

Loan Details

30 yrs
7.25%

Down Payment

20%
$130,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$3,547.32

Principal

Taxes

Principal Taxes HOA Total
Monthly $3,547.32 $621.00 $0.00 $4,168.32
Yearly $42,567.80 $7,452.00 $0.00 $50,019.80
Total $1,277,034.00 $223,560.00 $0.00 $1,500,594.00
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Market insight data is pulled from the same city as the listing being viewed (Marengo, IL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MRED as of the date listed below. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time.

Based on information submitted to the MLS GRID as of the date listed below. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. Some listings have been excluded from this website.

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Data last updated: 2026-10-27T06:57:04.000Z

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