Two-Bay Storefront
For Sale
$200,000
120 W Grant Highway, Marengo, IL 60152
Commercial Sale, Marengo, IL
Property Size1,176 SF
Lot Size0.22 Acres
Price / SF$170.07
Days on Market173
Property Features for 120 W Grant Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
1 block west of the intersection of Rt 20/23 on northeast corner of Rt 20 (Grant) and Ann Street. Across from McDonald's.
Subdivision
Harmony / Marengo
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 · Century 21 Real Estate
(815) 568-8093
Listed By:
Sandra Butenschoen · License #475081467
(847) 875-4960
Added: Apr 27
Changed: Oct 10
Last Checked: Oct 16 at 7:06AM
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.
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Investment Insights
Based on property information with market context.
Located at 120 W Grant Highway in Marengo, this 1,176-square-foot storefront property was built in 1954 and has block construction with a rubber roof. The interior includes two bay areas measuring approximately 14' x 27' each, two bathrooms with updated plumbing, a reception and office area, and a second smaller office. Natural gas is available.
The property occupies a 0.2205-acre site at the northeast corner of Rt. 20 and Ann Street, one block west of the Rt. 20/23 intersection. A city parking lot is situated to the north, while a vacant repair shop and restaurant are located to the east. McDonald's is across Rt. 20, and the full Rt. 23/I-90 interchange is minutes away. The property is zoned B1; auto-related business use is no longer available.
The property occupies a 0.2205-acre site at the northeast corner of Rt. 20 and Ann Street, one block west of the Rt. 20/23 intersection. A city parking lot is situated to the north, while a vacant repair shop and restaurant are located to the east. McDonald's is across Rt. 20, and the full Rt. 23/I-90 interchange is minutes away. The property is zoned B1; auto-related business use is no longer available.
Key Highlights
- 1,176‑square‑foot storefront building on a 0.2205‑acre site
- Two bay areas, each approximately 14' x 27'
- Reception/office area plus a second small office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,348
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$226,960
$227.0K
Cap Rate 7%
$162,114
$162.1K
Cap Rate 9%
$126,089
$126.1K
Market Conditions
NOI Build-Up for 1,176 SF
Gross rent
$17.6K $15.00/SF
− Vacancy
−$1.4K −$1.22/SF
EGI
$16.2K $13.79/SF
− OpEx
−$4.9K −$4.14/SF
NOI
$11.3K $9.65/SF
Area
McHenry County, IL
Vacancy
8.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$226,960
Cap Rate 7%
$162,114
Cap Rate 9%
$126,089
Alternative Uses
Best Use
Retail
$162.1K
$141.9K – $189.1K
NOI $11,348 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
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.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
54k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 35%
McDonald's
Dining
17,125 visits/mo
0.1 miles
Marengo #1
Shops & Services
15,049 visits/mo
0.1 miles
Shell
Shops & Services
7,655 visits/mo
0.4 miles
Shell
Shops & Services
5,482 visits/mo
0.2 miles
Circle K
Shops & Services
3,997 visits/mo
0.4 miles
Demographics for 60152, IL
12,382
Population
4,715
Households
2.6
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
95.4 sq mi
ZIP Area
130
Density / Sq Mi
$94,209
Median Household Income
$51,808
Median Earnings
$1,090
Median Rent
$259,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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 - B1-zoned building with office areas, two bathrooms, and natural gas availability.
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: 1,176‑square‑foot storefront building on a 0.2205‑acre site; Two bay areas, each approximately 14' x 27'; Reception/office area plus a second small office
