104 Railroad St Marengo, IL 60152
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 104 Railroad St
- Year built
- 1997
- Property type
- Commercial real estate
Description
This exceptional mixed-use property presents a compelling investment opportunity in the heart of Marengo, Illinois. Located at 104 W Railroad Street, this building offers a unique blend of commercial and residential income streams. Constructed in 1997, the property has undergone significant expansion by the current owners, resulting in a substantial and versatile space. The ground floor encompasses a fully equipped restaurant and bar, currently available for lease, presenting immediate income potential for a new operator. Upstairs, the property features two income-generating apartments: a three-bedroom unit and a two-bedroom unit, both currently occupied by tenants. The building's prime downtown location ensures high visibility and accessibility, attracting both residents and customers. This turnkey operation offers a rare chance to acquire a well-established business with significant upside potential. The property's size is not specified, but the combination of a thriving restaurant space and consistently rented apartments makes this a strong investment prospect. The building's solid construction and recent additions suggest a well-maintained property with a long lifespan. The current lease status of the restaurant and apartments provides a stable income stream, minimizing vacancy risks. This is an ideal opportunity for investors seeking a diversified portfolio with immediate returns and long-term growth potential in a vibrant downtown setting. The property is priced at $995,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marengo
- County
- McHenry
- State
- Illinois
- Longitude
- -88.60883
- Latitude
- 42.2522
