228 S State ST Active Save Request In-Person Tour Request Virtual Tour
Marengo,IL 60152
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 11897761
Year Built 1900
Annual Tax Amount $6,762
Tax Year 2022
Property 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!
Location
State IL
County Mchenry
Area Harmony / Marengo
Zoning COMMR
Interior
Cooling Central Air,Window Unit(s)
Flooring Varies
Exterior
Utilities Available Electric to Site,Water-Municipal
Roof Type Membrane
Building
Dwelling Type Mixed Use
Structure Type Brick,Wood Frame