Property summary
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
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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Cap rate
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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