USAILMarengo228 S State St
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New
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$650,000

For Sale

10 hours ago

228 S State St, Marengo, IL

House

MLS® 12779491

0 Bed

0 Bath

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  • Key Facts
  • Description
  • Map

Key Facts

Type Mixed Use
Levels Commercial Sale
Size -
Garage 
Taxes $7,452
Days Active 1
Lot Size 5574 SF
Approx. Age 1900
MLS® Number 12779491

Property Address: 228 S State St, MARENGO, IL, 60152-2230

Average square foot calculated using Size range provided by listing agent.

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 & 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 lease expires in 2029 with yearly escalations to $4, 000 in 2028. 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..
MLS® Number12779491
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1900
Basement
Driveway
Garage Spaces
Heat
A/CCentral Air, Window Unit(s)

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Oct 7, 2026List Date
$650,000List Price
  • Commute

Commute

Starting Address
Destination Address
228 S State St, Marengo, IL

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