BEDS0
BATHS
SQUARE FEET49,680
MLS#12443014
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
**Incredible Investment Opportunity!** This fully occupied apartment complex features long-term tenants with current rents significantly below market value, offering substantial potential for income growth. Recent updates include a newer roof (2019) and brand-new windows and patio doors (2023). The property consists of two garden-style, two-story buildings totaling 48 units: 36 two-bedroom and 12 one-bedroom apartments, each with separate utilities. The two-bedroom units in Building 620 include in-closet washers and dryers. Additionally, there is a one-story structure between the buildings that serves as an office and storage space. With 85 paved parking spaces, this property is not only a strong rental investment but also presents an excellent condo conversion opportunity. Don't miss this chance to capitalize on a fantastic income-producing asset with significant growth potential!
Property Features
Property Type: Multi Unit - Multiple
Cooling: Window Unit(s)
Lot Size: 2.42 Acres
Roof Type: Composition
Stories: 2.0
Taxes: $56,793
Year Built: 1978
Feature Descriptions
Current Use: Multi-Family
Electric: Circuit Breakers, Service - 0 to 100 Amps
Exterior: Brick, Block
Fire Protection: Fire Extinguisher/s, Sprinklers-Wet, Carbon Monoxide Detector(s)
Foundation: Concrete Perimeter
Frontage Type: City Street
HVAC: Electric
Location: Central Business District
Lot Dimensions: 217.6X33X90.2X6X88.4X384.3X281.8X383.9
Parcel#: 1136327042
Parking: 51-100 Spaces
Potential Use: Condominium, Multi-Family
Tenant Pays: Electricity, Heat
Units: 48
Listed By / Shown By
Listed By
Agency Name: RE/MAX At Home
Agency Phone: 847-255-1000
Shown By
Agent Name: Dawn Levins
Agent Phone: (815) 601-1582
Agency Title: Dickerson & Nieman Realtors
Estimate Your Payment
Estimated Payment
$ 22,353.31 per month $15,578.90 Principal & Interest $4,732.75 Property Tax $2,041.66 Homeowner's InsuranceChange Payment Information
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604-620 E Grant Highway | MLS# 12443014
This multi-family property located at 604-620 E Grant Highway, Marengo, IL 60152 is currently listed for sale with an asking price of $6,999,970. Search Marengo real estate on dawnlevins.dickersonnieman.com today.