Retail/Service Storefront
120 W Grant Highway Marengo, IL 60152
For Sale
$200,000
COMMERCIAL - Marengo, IL
Property Size1,176 SF
Lot Size0.22 Acres
Price / SF$170.07
Days on Market95
Property Features for 120 W Grant Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
1135283011
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3770
Utilities
Utilities
Natural Gas Available
Building Details
Year built
1954
Floors in Building
1
Number of units
1
Building materials
Block
Roof type
Rubber
Listing Agency:
CENTURY 21 New Heritage
(815) 568-8093
Listed By:
Sandra Butenschoen · License #475081467
(847) 875-4960
Added: Apr 27
Changed: May 8
Last Checked: Jul 30 at 2:06AM
MLS# 12632365
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale commercial building includes two bay areas and a layout that supports front-office use, featuring a reception/office area plus a second small office. The property also has two bathrooms with updated plumbing. The building previously operated under a special use permit for a service station/repair shop, but that usage and any auto-related business is no longer available.
The property is located on the northeast corner of Rt. 20 and Ann Street, approximately one block west of the Rt. 20/23 intersection. It is zoned B1, with the City indicating a focus on enhancing the central business district with retail/service uses. The immediate area includes a city parking lot to the north, a vacant repair shop and restaurant to the east, and McDonald’s across Rt. 20, with minutes to the Rt. 23 and I-90 interchange.
The building sits on a 0.2205-acre parcel and includes an additional PIN identified as 11-35-283-012.
The property is located on the northeast corner of Rt. 20 and Ann Street, approximately one block west of the Rt. 20/23 intersection. It is zoned B1, with the City indicating a focus on enhancing the central business district with retail/service uses. The immediate area includes a city parking lot to the north, a vacant repair shop and restaurant to the east, and McDonald’s across Rt. 20, with minutes to the Rt. 23 and I-90 interchange.
The building sits on a 0.2205-acre parcel and includes an additional PIN identified as 11-35-283-012.
Key Highlights
- 1954 block construction commercial building with rubber roof
- 1176 SF building with 2 bay areas (~14' x 27') and 2 bathrooms
- Includes reception/office area plus a second small office
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.8k | $24.48 |
| − Vacancy | −$7.2k | −$6.10 |
| EGI | $21.6k | $18.38 |
| − OpEx | −$5.4k | −$4.60 |
| NOI | $16.2k | $13.79 |
1,176 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$231.6K
$202.7K – $270.3K
NOI $16,215 @ 7.0% cap · market cap 8.11%
Second Best
Retail
$162.1K
$141.9K – $189.1K
NOI $11,348 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$406.0K
$355.3K – $473.7K
NOI $28,421 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Marengo Floral Co., Inc — 105 S Taylor St, Marengo, IL 60152
- A Thymeless Bloom Wedding & Special Events Florist — 403 N State St, Marengo, IL 60152
Frequently Asked Questions
What type of property is this?
Storefront property - Former service station structure with two bay areas, reception/office space, and two bathrooms near Rt. 20 and Ann Street.
Where is this storefront property located?
The property is located at 120 W Grant Highway Marengo, IL.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1954 block construction commercial building with rubber roof; 1176 SF building with 2 bay areas (~14' x 27') and 2 bathrooms; Includes reception/office area plus a second small office
