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0 Beds

$650,000

228 S State Street, Marengo IL, 60152

Price per sqftN/A
Built in1900
Property typeOther
Listed by Kevin Carroccia with @properties Christie's International Real Estate 312-493-3310

Overview

Active

New

Listed Oct 7, 2026

Updated 14h ago

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.

$4,324/mo

Est. mortgage payment based on a $650,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
12779491

Interior Features

Bedrooms
0
Cooling
Yes
Basement
No

Exterior Features

Lot Size
0.13 Acres

Other Property Details

Taxes
$7,452
Tax Frequency
Annually
MLS provider logo

Listed by Kevin Carroccia with @properties Christie's International Real Estate 312-493-3310

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Data is refreshed every 3 hours. Listing last updated 6:37 AM UTC on 10/10/2026. 

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