This is a fully-leased mixed-use property situated in Marengo's central business district. The property consists of a restaurant/bar and three 1BR apartments. The restaurant tenant will be signing a 3-year extension into 2028, with rent escalations each year. All three upstairs apartments are leased month-to-month and have long-term tenants who… Read More would like to stay. Situated at the corner of State St and Grant Highway in the Central Business District, this is a high visibility intersection. There is a city-owned public parking lot for 50 cars just behind the building, providing plenty of parking for patrons. The restaurant is accessible from the rear courtyard and the front entrance. Location allows for quick & easy access to Interstate 90 via the newly constructed access ramp. The restaurant business has a liquor license and can apply for a gaming license. 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.. 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. Central heating & air conditioning heat & cool the first floor, while electric baseboard heaters heat the second floor. There are separate utilities throughout. Excellent rental income (though apartment rents should be increased). Separate PIN (currently used as a 20'x68' outdoor dining patio) also available for purchase. Read Less
Courtesy of @properties Christie's International Real Estate [email protected]
Listing Snapshot
Days Online
100
Last Updated
Property Type
Mixed Use
Year Built
1900
MLS Number
MRD12373188
30 Days Snapshot Of 60152
$349k
+6%
(avg) sold price
13
+18%
homes sold
22
+4%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Construction Materials: "Brick", "Wood", "Combination", 2 stories, Built in 1900
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Source: Midwest Real Estate Data (MRED)
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