605 Grant Hwy, Marengo, IL 60152-3431
This exceptional 1,625 square foot mixed-use property, located at 605 E Grant Highway in Marengo, IL, presents a unique investment opportunity. Situated on a corner lot with high visibility on IL RT 20, this property boasts excellent exposure for any business. The building, originally constructed around 1930 with an expansion in the early 2000s, offers a blend of character and modern updates. The interior features three office-sized rooms, two large open rooms, ample storage, and a bathroom. A striking double-door entrance adds to the property's curb appeal. Recent improvements include new vinyl flooring, modern accents, and a brand-new AC unit installed in 2024. The existing concrete parking lot provides convenient access from both the side street and the main frontage, with room for expansion. Currently leased to a massage therapy business at $2,000 per month (tenant pays all utilities), the lease extends through March with the possibility of renewal. This versatile property offers significant potential for rental income or customization to suit a wide range of business needs. The property's prime location and adaptable space make it an attractive investment for both seasoned investors and entrepreneurs seeking a profitable venture. Don't miss this chance to own a piece of Marengo's vibrant commercial landscape.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.