REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

JgR Online Concierge

[email protected] +1(630) 491-4615

$ 6,999,970

Est. payment -/mo

Save

Active

604-620 E Grant HWY Marengo, IL 60152

49,680 SqFt

UPDATED:

10/07/2024 08:09 PM

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 49,680 sqft

Price per Sqft $140

MLS Listing ID 12163819

Maintenance Fees $12,000

Year Built 1978

Annual Tax Amount $56,793

Tax Year 2022

Lot Size 2.420 Acres

Lot Dimensions 217.6X33X90.2X6X88.4X384.3X281.8X383.9

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!

Location

State IL

County Mchenry

Area Harmony / Marengo

Zoning MULTI

Interior

Cooling Window Unit(s)

Fireplace N

Exterior

Roof Type Composition

Building

Dwelling Type Multi Family 5+

Level or Stories 2

Structure Type Brick,Block

Listed by Basel Tarabein • RE/MAX At Home

Quick Search

General