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    320 State St Marengo, IL 60152

    Sponsored
    For Sale
    $275,000

    3,633 SF Office - Sale or Lease

    Property size:
    3,633 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 3,633-square-foot office space in Marengo, Illinois, is available for sale or lease. Located at 320 S State St, this property boasts a highly visible location along a state highway with a substantial daily traffic volume of 22,000 vehicles passing through the intersection of Routes 20/23. The building, a converted office, offers a blend of creative and traditional office space across two stories, making it suitable for a variety of professional uses. The 0.47-acre lot provides ample space. The asking price is $275,000, translating to $75.70 per square foot. The property is currently vacant and zoned R3. Its prime location benefits from the proximity of numerous national retail and restaurant establishments, including McDonald's, Taco Bell, Subway, Chase Bank, BMO Harris, Dollar General, and Circle K, as well as Athletico. This presents a unique opportunity to establish a business in a thriving commercial area with high visibility and convenient access to amenities. The net rentable square footage is 3,633 square feet. This property is ready for immediate occupancy.

    Property Features for 320 State St

    General Information

    Property type
    Office space
    Square Feet
    3,633 SF
    Lot Size
    20,473 SF

    Building Details

    Stories
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marengo
    County
    McHenry
    State
    Illinois
    Longitude
    -88.60855157874
    Latitude
    42.247788715546

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    FAQs

    What type of property is this?
    Office space - 3,633 SF Office - Sale or Lease
    Where is this office space located?
    The property is located at 320 State St Marengo, IL.
    What is the asking price?
    The asking price for this property is $275,000.
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    320 State St Marengo, IL 60152
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    Marengo, IL 60152
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    Realmo Value Estimation

    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.

    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.

    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
    320 State St Marengo, IL 60152
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