Skip To Content

604-620 E Grant Highway

Marengo, IL 60152
  • $6,999,970
  • STATUS: Active
  • ON SITE: 185 Days
  • MLS #: 12163819
UPDATED: 67 min ago
$6,999,970
  • 0
    BEDS
  • 2.42
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1978
County:
Area:

School Ratings & Info

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!

Monthly Payment Calculator



© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Suburban Life Realty. Based on information submitted to the MRED as of 2025-03-28T02:59:05.343 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
www.suburbanliferealty.com/homes/155669161
Print Image

604-620 E Grant Highway Marengo, IL 60152

  • Price: $6,999,970
  • Status: Active
  • On Site: 185 Days
  • Updated: 67 min ago
  • MLS #: 12163819
0
Beds
0
Baths
0
½ Baths
2.42
Acres
1978
Built
Neighborhood:
Mchenry
County:
Mchenry
Area:
Mchenry
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!
Exterior Features

Exterior Building Type Brick Foundation Details Concrete Perimeter Frontage Type City Street Land Amenities Curbs and GuttersLighting/Exterior Outdoor Parking 51-100 Spaces Roof Composition Roof Structure Pitched

Interior Features

Basement None Cooling Window Unit(s) Fireplaces Total 0 Heat Ventilation Electric Number Of Dryers 0 Number Of Ranges 48 Number Of Washers 0

Property Features

Additional Parcels YN No Approximate Age 36-50 Years Building Area Total 49680 Built Before1978 YN No Current Use Multi-Family Electric Circuit BreakersService - 0 to 100 Amps Fire Protection Fire Extinguisher/sSprinklers-WetCarbon Monoxide Detector(s) Gross Income 742500 Gross Scheduled Income 742500 Insurance Expense 20000 Location Central Business District Maintenance Expense 12000 Mls Actual Status Active Net Operating Income 560700 Operating Expense 181800 Ownership Types Corporation Possible Use Multi-Family Seller Needs Cash Tax Annual Amount 56793 Tax Year 2022 Tenant Pays ElectricityHeat Total Monthly Income 61875 Township Marengo Type Multi Family 5+ Zoning MULTI

Listing information © 2025 Midwest Real Estate Data LLC.
Listing provided courtesy of RE/MAX At Home: 847-255-1000.


© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Suburban Life Realty. Based on information submitted to the MRED as of 2025-03-28T02:59:05.343 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
https://bt-photos.global.ssl.fastly.net/mred/1280_boomver_1_12163819-1.jpg https://bt-photos.global.ssl.fastly.net/mred/1280_boomver_1_12163819-1.jpg https://bt-photos.global.ssl.fastly.net/mred/1280_boomver_1_12163819-1.jpg
Logo
Suburban Life Realty
350 Sundown Rd.
South Elgin IL, 60177