Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    320 State St Marengo, IL 60152

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    320 State St Marengo, IL 60152

    View on Map
    • Office properties & Spaces
    • 3,633 SF
    • 0.47 lot acres
    For Sale
    $275,000
    View Listing →
    Prime Marengo Office Space For Sale
    $275,000
    3,633 SF

    Prime Marengo Office Space

    3,633 SF Office - Sale or Lease

    Coral, IL 60152
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 320 State St

    Lot size
    0.47 lot acres
    Property size
    3,633 SF
    Property type
    Office properties & Spaces
    Property subtype
    Office Units

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Marengo
    County
    McHenry
    State
    Illinois
    Longitude
    -88.6086
    Latitude
    42.2478

    Comparable in this City

    • Value Estimation by Request
      6,633 SF

      300-320 State St

      Restaurants • 6,633 SF
      300-320 State St, Marengo, IL 60152
      View Details
    • Value Estimation by Request
      90.00 Acres

      Church Rd & Grant Hwy

      Land • 90.00 Acres
      0 Church Rd & Grant Hwy, Marengo, IL 60152
      View Details
    • Value Estimation by Request
      0.28 Acres

      Nwn W St

      INDUSTRIAL (GENERAL) • 0.28 Acres
      Nwn W St, Marengo, IL 60152
      View Details
    • Value Estimation by Request
      1.70 Acres

      Nwn W St

      INDUSTRIAL (GENERAL) • 1.70 Acres
      Nwn W St, Marengo, IL 60152
      View Details
    • Value Estimation by Request
      8.31 Acres

      Marengo, IL 60152

      INDUSTRIAL (GENERAL) • 8.31 Acres
      Marengo, IL 60152
      View Details
    • Value Estimation by Request
      0.42 Acres

      Marengo, IL 60152

      COMMERCIAL (GENERAL) • 0.42 Acres
      Marengo, IL 60152
      View Details

    Similar Nearby for Sale

    • $275,000
      3,633 SF

      Prime Marengo Office Space

      3,633 SF Office - Sale or Lease
      320 State St, Marengo, IL 60152
      View Details
    • Contact for pricing
      1,000 SF

      Retail or Office Redevelopment Opportunity

      Retail, fast food, or office space along state highway frontage.
      302-310 W Grant Hwy, Marengo, IL 60152
      View Details
    • Contact for pricing
      3,633 SF

      Converted Office Building For Sale

      3,633 SF office building with highway frontage.
      320 S State St, Marengo, IL 60152
      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 60152
      View Details
    • Contact for pricing

      Marengo Land Available For Sale

      Land available with frontage on I-90 Tollway and Route 23.
      I-90 Rte 23, Marengo, IL 60152
      View Details

    Similar Nearby for Lease

    • $1,000 /Mo
      900 SF

      Renovated Retail Space in Marengo

      900 SF retail space in downtown Marengo for rent.
      110 N State St, Marengo, IL 60152
      View Details
    • Contact for pricing
      3,324 SF

      Marengo Commercial Property For Lease

      Commercial property for lease with modern, open layout.
      212 Lindow Ln, Marengo, IL 60152
      View Details
    • $14 SF/Yr
      1,200 SF

      Downtown Marengo Retail/Office Space

      Retail/office space in vibrant downtown Marengo with updated facade.
      112 S State St, Marengo, IL 60152
      View Details
    • Contact for pricing
      279,200 SF

      93-Acre Industrial Campus Available

      Five buildings on 93 acres available for lease/sale.
      300 West St, Marengo, IL 60152
      View Details
    • $98 SF/Yr

      16917 Harmony Rd, Marengo, IL 60152

      Warehouses
      16917 Harmony Rd, Marengo, IL 60152
      View Details
    • Contact for pricing

      Commercial Property for Lease

      Commercial property available for lease in Marengo, Illinois.
      300 West St, Marengo, IL 60152
      View Details
    View Listing
    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.
    320 State St
    Marengo, IL 60152
    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!