Property profile

315 Park Dr Marengo, IL 60152

OFF-MARKET
Commercial real estate
Property ID
US28-3005556
1.39 ac lot
Individually Owned 1-yr Hold Free & Clear
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Property summary

AI-generated overview

This 5,200 square foot free-standing block and brick building is situated on a 1.39-acre lot at the high-traffic corner of Park Drive and Route 20 (Grant Highway) in Marengo, Illinois. The property boasts excellent visibility with prominent corner signage. Located on the west side of town, it offers ample gravel parking and a large lawn area along Route 20, providing convenient access for customers. Previously used as an American Legion Hall, this versatile space is perfectly suited for a variety of uses, including a restaurant, retail establishment, or banquet facility. Its convenient location just north of the I-90/Route 23 interchange ensures high traffic volume. The building features a spacious banquet room, a bar area, and a former kitchen equipped with a triple basin sink, hand sink, and a 12-foot hood. Additional storage is available, including an 8x7 loading dock for deliveries. Currently vacant, utilities (power and gas) will require reconnection. The property is being sold "AS IS," presenting a significant redevelopment opportunity for a discerning investor. The building was constructed in 1971, is a single-story structure, and sits within the B2 zoning district. The property's APN is 11-35-100-058. This prime location and flexible space make it an exceptional investment opportunity.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 1.39 ac (60,548 SF)
APN 11-35-100-058
UPID US28-3005556

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

315 Park Dr Marengo, IL 60152-2901
Marengo metro Census 871004 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$235k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$270k

Owner & transaction history

since 2025
Last sale
$300,000
6 recorded transactions
2025
$300,000
2022
Price N/A
2014
$143,000
2014
Price N/A
2008
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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