Triplex with Storage
New
For Sale
$420,000
322/324 W Washington Str W Washington Street, Marengo, IL 60152
Residential Income, Marengo, IL
Property Size3,060 SF
Lot Size0.34 Acres
Price / SF$137.25
Days on Market3
Property Features for 322/324 W Washington Str W Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bathroom 4, Bedroom 6, Bedroom 3, Basement, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 5
Parking
8
Parking features
Driveway, Owned
Window features
Screens
Basement
Unfinished, Partial
Elementary school
Locust Elementary School
Middle school
Marengo Union Elementary
High school
Marengo High School
Elementary school district
165
Middle school district
165
High school district
154
Directions
Rt 20/23. 1 block north to Washington Street. W to property on right. Sign.
Subdivision
Harmony / Marengo
Standard status
Active
APN
1135278017
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4787
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
storage building
Building Details
Building materials
Aluminum Siding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
CENTURY 21 New Heritage · Century 21 Real Estate
(815) 568-8093
Listed By:
Sandra Butenschoen · License #475081467
(847) 875-4960
Added: Oct 16
Changed: Oct 17
Last Checked: Oct 18 at 7:06AM
MLS# 12787060
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.
This three-unit residential property contains 3,060 square feet on a 0.34-acre lot. The building has aluminum siding and a metal roof, with most windows replaced and remodeled bathrooms. The furnace and central air serving the three-bedroom unit at 324 are 2 years old.
A separate 16' x 20' storage building is on the property, along with two driveways. Public water and public sewer serve the site.
A separate 16' x 20' storage building is on the property, along with two driveways. Public water and public sewer serve the site.
Key Highlights
- Three units in 3,060 square feet
- 0.34‑acre lot
- Detached 16' x 20' storage building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,371
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,420
$607.4K
Cap Rate 7%
$433,871
$433.9K
Cap Rate 9%
$337,456
$337.5K
Market Conditions
NOI Build-Up for 3,060 SF
Gross rent
$47.0K $15.36/SF
− Vacancy
−$3.6K −$1.18/SF
EGI
$43.4K $14.18/SF
− OpEx
−$13.0K −$4.25/SF
NOI
$30.4K $9.93/SF
Area
McHenry County, IL
Vacancy
7.69%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,420
Cap Rate 7%
$433,871
Cap Rate 9%
$337,456
Alternative Uses
Best Use
Multifamily LT 5
$433.9K
$379.6K – $506.2K
NOI $30,371 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$384.5K
$336.4K – $448.5K
NOI $26,912 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$1.06M
$924.4K – $1.23M
NOI $73,953 @ 7.0% cap · market cap 17.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - The property includes two driveways, a detached storage building, and updates to several bathrooms and windows.
Where is this triplex located?
The property is located at 322/324 W Washington Str W Washington Street Marengo, IL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Three units in 3,060 square feet; 0.34‑acre lot; Detached 16' x 20' storage building
