Forest St Marengo, IL 60152
- Land
- 38.00 lot acres
Current Use by Public Records
- Land
Property Details for 0 Forest St
- Lot size
- 38.00 lot acres
- Property type
- Land
Description
This exceptional 38-acre parcel in Marengo, Illinois, presents a remarkable opportunity for residential development. Located in McHenry County (APN: 11-36-351-042), this R-1 zoned land boasts a highly desirable location just 1.5 miles north of the I-90/23 interchange and 3 miles north of the I-90/20 interchange, ensuring convenient access to major transportation routes. Previously approved plans exist for the construction of 54 duplex units and 24 single-family homes, complete with final engineering documentation available for review. The City of Marengo is open to exploring alternative uses and densities, including senior housing, assisted living facilities, and apartment complexes, offering significant flexibility for developers. This property is situated within an IHDA Opportunity Zone, potentially unlocking additional investment incentives. The asking price is $1,170,000. This is a rare chance to acquire a substantial tract of land in a thriving area with strong potential for significant returns. Don't miss this exceptional investment opportunity.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marengo
- County
- McHenry
- State
- Illinois
- Longitude
- -88.6188
- Latitude
- 42.246
