21714 Grant HwyMarengo, IL 60152

For Sale
$745,000

Marengo, IL: 8,411 SF, 9.03% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional mixed-use property at 21714 W Grant Hwy in Marengo, Illinois, presents a compelling investment opportunity. The 8,411 square foot building sits on a substantial 87,120 square foot lot (approximately two acres) and is comprised of three units within a single, one-story structure. The property is currently fully leased, generating a strong net operating income (NOI) of $67,264, resulting in an attractive 9.03% capitalization rate. The tenant mix includes two retail storefronts: a collectibles store with a lease extending to April 2026, and a gaming establishment ("House of Bottles") under lease until May 2025. Additionally, a single-family residential unit is included, subject to a 60-day termination clause. The property is zoned B1 and offers significant potential for future value enhancement through renovations and strategic rent increases. This owner/user investment opportunity is priced at $745,000 and presents a rare chance to acquire a well-located, income-producing asset in a thriving McHenry County market. The property's location in Marengo, IL, zip code 60152, provides convenient access to local amenities and transportation routes.

Highlights

  • Exceptional mixed-use property in Marengo, IL, totaling 8,411 square feet on a 2-acre lot.
  • Currently fully leased with a strong NOI of $67,264 and a 9.03% cap rate.
  • Three units: two retail spaces (collectibles store & gaming establishment) and one residential unit.
  • B1 zoning allows for future renovations and rent increases.
  • Priced at $745,000, offering an owner-user opportunity in a thriving McHenry County market.

Property Details for 21714 Grant Hwy

Property type
Other retail properties, Individual retail properties
Square Feet
8,411 SF
Buildings
1
Stories
1
Units
3

Location Insight

City
Marengo
County
McHenry
State
Illinois
Latitude
42.2494149
Longitude
-88.6216852
21714 Grant Hwy, Marengo, Illinois

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21714 Grant Hwy
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