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Property Description
Excellent investment opportunity situated in Marengo's central business district. 228 S State property consists of a restaurant/bar and three 1BR apartments. Situated at the corner of State St and Grant Highway, this is a high-visibility intersection. Directly behind this property is a city-owned public parking lot for 50 cars, providing plenty of off-street parking for patrons. The restaurant is accessible from the rear courtyard and the front entrance. This location allows for quick and easy access to Interstate 90, via the recently constructed access ramp. The restaurant business has a liquor license and can apply for a gaming license. The building is in good condition and move-in ready. The exterior has been freshly painted and is well-illuminated for excellent visibility. The lowest level houses a walk-in cooler and storage. There are separate utilities throughout. Central heating & air conditioning heat & cool the first floor, while electric baseboard heaters heat the second floor. The restaurant's lease expires in 2029, reaching $4,000 by 2028. The sale includes the restaurant and bar equipment currently being used to operate the business, which includes: prep & cooking equipment, coolers, flat top grills, deep fryers, freezers, etc.. List of equipment available upon request. Most rents now reflect market rates, with value-added opportunities available.
Full Property Details
Full Property Details for 228 S State St
General
- Price: $650,000
- Taxes: $7,452 (2025)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12779491
Interior
- Interior Features: Accessible Entrance, Accessible Washroom/s, Multi-Tenant, Private Restroom(s), Storage Inside, Other, Basement
- Flooring: Varies
Additional Information
- Security/Safety: Ansul System, Fire Extinguisher(s), Smoke or Fire Protectors
Location
- Area: Harmony / Marengo
- County: McHenry
- Township: Marengo
- Driving Directions: Corner of U.S. Route 20 (Grant Hwy) and Illinois Route 23 (State St)
- Location Details: Far West, Central Business District, Corner, In City Limits
Heating & Cooling
- Cooling Type: Central Air Conditioning, Window Unit(s)
- Heating Type: Electric, Forced Air
Utilities
- Sewer: Public Sewer
- Water: Municipal Water
- Trash: 300
- Onsite: Electricity to Site
Structural Information
- Construction: Brick, Wood, Combination
- Exterior Const.: Brick, Wood, Combination
- Foundation: Concrete Perimeter, Stone
- Roof: Membrane
- Sub-Flooring: Varies
- Stories/Levels: 2
- # of Stores: 1
- Year Built: 1900
- Built Before 1978: Yes
Unit Information
- # Tenants: 4
Lot Features
- Lot Size (Sq. Ft.): 5,574
- Lot Dimensions: 4004 SQ FT
- Frontage: Signal Intersection, State Road, US Highway
- Potential Use: Commercial
- Zoning: COMMR
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Insurance Fee: $6,000
- Operating Expenses: $15,696
- Security Deposit: Ansul System, Fire Extinguisher/s, Smoke or Fire Protectors
- Assessment Year: 1900
- Tax Amount: $7,452
- Tax Year: 2025
- Tenant Pays: Electricity, Heat, Scavenger, Sewer, Varies by Tenant
- Pays Trash: 300
- Pays Sewer: Public Sewer
Disclosures and Reports
- Property ID: 1135283015
Listed by @properties Christie's International Real Estate
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Schools
Schools serving 228 S State St
School Districts:Marengo Community High School District 154, Marengo-Union Elementary Consolidated District 165
| Name | Grades | Distance |
|---|---|---|
Locust Elementary School 539 Locust Street, Marengo, IL 60152 | PK-3 | 0.7 mi |
Ulysses S Grant Intermediate School 816 East Grant Highway, Marengo, IL 60152 | 4-5 | 0.7 mi |
Marengo Community Middle School 816 East Grant Highway, Marengo, IL 60152 | 6-8 | 0.7 mi |
Marengo High School 110 Franks Road, Marengo, IL 60152 | 9-12 | 1.1 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Tax History
Tax History for 228 S State St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$7,176
2%
$94,565
13%
2023
$7,050
100%
$83,361
11%
2022
-100%
$75,385
10%
2021
$6,329
—
$68,688
5%
2021
$6,329
-5%
$65,368
6%
2019
$6,628
10%
$61,937
13%
2017
$6,010
3%
$54,954
7%
2016
$5,847
-1%
$51,344
2%
2015
$5,925
-4%
$50,126
-14%
2018
$6,182
7%
$58,015
22%
2014
$5,792
—
$47,703
-5%
2013
$5,779
3%
$50,235
-5%
2012
$5,600
—
$53,097
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 228 S State St
228 S State Street, Marengo, IL 60152 (MLS# 12779491) is a Commercial property. 228 S State Street is currently listed for $650,000 and was received on October 07, 2026. Want to learn more about 228 S State Street? Do you have questions about finding other Commercial real estate for sale in Marengo? You can browse all Marengo real estate or contact a Coldwell Banker agent to request more information.

