110 East Prairie Street

Marengo, IL 60152

$849,000
Price
11
Beds
10
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Prime Investment Opportunity in Downtown Marengo - Fully Leased 10-Unit Apartment Building. Located in the heart of Marengo, IL, presents an exceptional investment opportunity. The property has undergone recent updates, enhancing its appeal and boosting rental income. Constructed with durable brick and block, the building requires minimal maintenance, making it a hassle-free investment. Tenants are responsible for their own electric bills, while the landlord only covers real estate taxes and water,...Prime Investment Opportunity in Downtown Marengo - Fully Leased 10-Unit Apartment Building. Located in the heart of Marengo, IL, presents an exceptional investment opportunity. The property has undergone recent updates, enhancing its appeal and boosting rental income. Constructed with durable brick and block, the building requires minimal maintenance, making it a hassle-free investment. Tenants are responsible for their own electric bills, while the landlord only covers real estate taxes and water, with no natural gas utilized on the property. The building offers an excellent opportunity for investors seeking a low-maintenance, high-return asset. This property is ideally located within walking distance to local restaurants, banks, bars, and other conveniences. This fully leased, updated apartment building offers an outstanding opportunity for both seasoned investors and those new to the market, providing strong cash flow with low operational costs and minimal management requirements.
  1. Listed by Janelle Vik • Baird & Warner

Property Details for 110 East Prairie Street

Area
Harmony / Marengo
Township
Marengo
Num of Interior Fireplaces
0
Zoning
COMMR
LISTING UPDATED: 10/18/2024 12:06 AM

Property Details for 110 East Prairie Street

StatusActive
MLS #12136437
Days on Market117
Taxes$12,632 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Exterior Entrance
Year Built1900
Lot Size0.18 AC / 7,852 SF
CountyMcHenry County

Building Information for 110 East Prairie Street

Stories2Residences10Year Built1900Building Size-Lot Size0.18 AC / 7,852 SF

Property Information for 110 East Prairie Street

General Information
Addtl Parking Information
  • Outdoor Parking: None On Site
Location and General Information
  • Frontage Type: City Street
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Association Fee Includes: Water
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: None
  • Electric: Circuit Breakers
  • # Of Washers: 0
  • Basement Description: Crawl, Slab
  • Heat/Ventilation: Electric
  • # Of Window/Ac: 10
  • # Of Refrigerators: 10
  • Washer/Dryer Lsd: No
  • # Of Dryers: 0
  • # Of Disposals: 0
  • # Of Dishwashers: 0
  • Num of Baths: 10.0
Utilities / Equipment
  • Utilities: Sanitary Sewer, Water-Municipal
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Corridor-Exterior Entrance,Corridor-Interior Entrance
  • Lot Dimensions: 90 X 60 X 88 X 58
  • Lot Size Square Feet: 7852.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Construction: Brick, Concrete
  • Fire Protection: Fire Extinguisher/s
  • Roof Structure: Flat
  • # Of Ranges: 10
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Multi-Family
  • Documents Available: Rent Roll,Floor Plan
  • Public Document Count: 1
  • Document Date: 2024-08-13T16:06:33
  • Photos Count: 25
Miscellaneous
  • Current Use: Multi-Family
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 10
Income & Expenses
  • Electric Expense: $1,800.00
  • Fuel Expense: $.00
  • Gross Income: $107,400.00
  • Gross Scheduled Income: $107,400.00
  • Insurance Expense: $2,400.00
  • Maintenance Expense: $.00
  • Electric Expense Source: Actual
  • Expense Year: 2023
  • Total Annual Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 0
  • Other Expense Source: Actual
  • Repairs-Decor Expense Source: Actual
  • Trash Expense Source: Actual
  • Total Monthly Income: 8950
  • Water Expense Source: Actual
  • Net Operating Income: $83,389.00
  • Operating Expense: $24,011.00
  • Other Expense: $.00
  • Trash Expense: $1,380.00
  • Water Sewer Expense: $5,800.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 5
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 3
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 2
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 110 East Prairie Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 110 East Prairie Street

Taxable ValueLand$14,971Additions$134,397Total$149,368
Tax Record2023$12,632 ($1,053 / month)
Home Facts
Lot Size7,852 SqFtStyleMiscellaneous CommercialCountyMCHENRYAPN11-36-154-007

Schools near 110 East Prairie Street

This home is within Marengo-Union E Cons D 165 School District.
Rating
School
Type
Grades
Distance
Public - PK to 3
Public - 6 to 8
Public - 9 to 12
Public - 4 to 5
Rating
School
Distance
Locust Elementary School
PublicPK to 3

Marengo Community Middle School
Public6 to 8

Marengo High School
Public9 to 12

Ulysses S Grant Intermediate School
Public4 to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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110 East Prairie Street is a multi-family home for sale in Marengo, IL 60152. This property was listed for sale on August 13, 2024 by Baird & Warner, it's currently listed at $849,000. It has been on the market for a total of 117 days and was last sold on March 21, 2023. This listing's school districts are Marengo-Union E Cons D 165 School District, Marengo Chsd 154 School District. Nearby schools include Locust Elementary School, Marengo Community Middle School and Marengo High School. 110 East Prairie Street is a 11-bed, 10-bath, multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Baird & Warner

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 10/18/2024 12:06 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.