228 State StMarengo, IL 60152

This exceptional mixed-use property in Marengo, IL's central business district presents a lucrative investment opportunity. The building, constructed in 1900 and renovated in 2003, boasts a prime location at the corner of State Street and Grant Highway, ensuring high visibility and traffic. The property features a thriving, fully operational restaurant and bar on the first floor, complete with a liquor and gaming license, seating for over 100 patrons (indoor and outdoor), and all necessary equipment included in the sale. Five gaming machines are currently in operation. Upstairs, three residential apartments provide consistent rental income. The property is fully occupied with four tenants. The 0.11-acre lot includes a separate PIN for an adjacent lot, accommodating the spacious outdoor patio. Convenient on-street parking is available, supplemented by a nearby city-owned public lot with up to 50 spaces. Easy access to Interstate 90 via newly constructed ramps adds to its appeal. The building is in excellent condition, with a freshly painted exterior and well-illuminated signage. The lower level includes a walk-in cooler. Individual utilities and separate heating and cooling systems (central A/C and heat on the first floor, electric baseboard heaters on the second) are in place. The property offers a 6.56% cap rate with a current NOI of $45,894, and is offered at $699,900. The asking price reflects the strong rental income potential (with room for rent increases), low maintenance, and low ongoing expenses. This is a turn-key operation with a long history of success (under the same ownership for 35 years), offering immediate income and significant upside potential.