604 Grant HwyMarengo, IL 60152

This exceptional investment opportunity presents the SunnySide Apartments, a 48-unit multifamily complex located at 604 E Grant Hwy, Marengo, IL 60152. The property, situated on a 2.42-acre lot, consists of six buildings, offering a mix of 36 two-bedroom and 12 one-bedroom apartments. Built in 1978 and extensively renovated in 2023, the property boasts a Class B designation and features a new roof (installed in 2019), brand-new windows and patio doors (2023), and 86 paved parking spaces. Each unit has separate utilities, with in-closet washers and dryers in the two-bedroom units of one building. An additional one-story structure provides office and storage space. Currently 100% occupied, with an occupancy date of January 4, 2025, the property generates a substantial net operating income (NOI) of $560,700, resulting in an 8.01% cap rate. The asking price is $6,999,970, translating to $145,832.71 per unit and $140.90 per square foot. The total square footage is 49,680, all net rentable. The property is zoned residential and offers significant potential for increased rental income due to current rents being below market value. This property presents a strong rental investment and a potential condo conversion opportunity. The legal description is APN 1136327042, and ownership is held by a corporation.