Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    I-90 & Route 23 Marengo, IL 60152

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land available with frontage on I-90 Tollway and Route 23.

    Type:Land
    Property size:
    169 SF
    Added:
    Nov 26, 2025
    Days on Market:
    155
    Last Refresh:
    Apr 5 at 9:28 pm

    Property Features for I-90 & Route 23

    General Information

    Standard status
    Active
    Size
    169 SF
    Property subtype
    Land

    We can help!

    Listing Contact
    Jeff Provenza
    Jeff Provenza

    Listing agent Jeff Provenza

    Listing office Lee & Associates | Chicago

    Listing date Nov 26, 2025

    Source Lee-associates

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates | Chicago

    Overview

    Marengo Land Available For Sale

    This land is available for build-to-suit opportunities. It features frontage on both the eastbound and westbound sides of the I-90 Tollway. The City of Marengo supports a wide variety of uses for this property. The location benefits from high traffic volume, with over 56,000 vehicles per day. A brand new full interchange is present at I-90 and Route 23. The property has low McHenry County real estate taxes and is fully divisible. The parcel numbers are 16-26-400-009 and 16-26-400-008. The property size is 169 acres.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Marengo
    County
    McHenry
    State
    Illinois
    Longitude
    -88.6273
    Latitude
    42.2385

    Nearby Similar for Sale

    • $1,025,000

      Residential Oasis with Warehouse

      10-acre residential-zoned land with warehouse near Chicago.
      813 Menge Road, Marengo, IL 60152
      View Details
    • $75,900

      Marengo Land: Build Your Dream

      Beautiful 1.07 acre lot near I-90 in Marengo, IL.
      10817 Hill Crest Lane lot: 10, Marengo, IL 60152
      View Details
    • $76,900

      Land For Sale

      Land available for sale.
      Lot 38 Saint Andrews Drive, Marengo, IL 60152
      View Details
    • Contact for pricing
      3,000 SF

      Retail or Office Redevelopment Opportunity

      Retail, fast food, or office space along state highway frontage.
      302-310 W Grant Hwy, Marengo, IL
      View Details
    • Contact for pricing
      296 SF

      Land Available For Build-To-Suit

      Land available for build-to-suit opportunities.
      I-90 & Anthony and Harmony Roads, Marengo, IL 60152
      View Details
    • $299,900
      3,633 SF

      Converted Office Building For Sale

      3,633 SF office building with highway frontage.
      320 S State St, Marengo, IL
      View Details
    • Contact for pricing

      Land with Interchange Access

      Commercial land with visibility and future utilities near I-90.
      Harmony Rd, Marengo, IL
      View Details
    • Contact for pricing

      Land Available For Build-To-Suit

      Land available for build-to-suit on I-90 in Marengo, IL.
      I-90, Marengo, IL
      View Details
    • Contact for pricing
      279,200 SF

      93 Acre Campus with Buildings

      93-acre campus with 5 buildings for lease or sale.
      300 West St, Marengo, IL 60152
      View Details
    • Contact for pricing

      Marengo Land Near I-90

      Commercial land with high visibility and high capacity irrigation well.
      20003 Harmony Rd, Marengo, IL
      View Details
    • Contact for pricing

      Land with Interchange Access

      Commercial land with visibility and access to I-90.
      10120 S IL Route 23, Marengo, IL
      View Details
    • $1,286,000

      Marengo Development Land For Sale

      25.2 acres of B-3 zoned development land available.
      S Grant Highway & Church Road, Marengo, IL 60152
      View Details

    FAQs

    What type of property is this?
    Land - Land available with frontage on I-90 Tollway and Route 23.
    Where is this land located?
    The property is located at I-90 & Route 23 Marengo, IL.
    What are key features of this property?
    This property features: Frontage on both eastbound and westbound I‑90 Tollway; Brand new full interchange at I‑90 and Route 23; Over 56,000 Vehicles Per Day
    (773) 355-5081
    We can help!
    Listing Contact
    Jeff Provenza
    Jeff Provenza
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!