604-620 East Grant Highway

Marengo, IL 60152

$6,999,970
Price
84
Beds
48
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
an aerial view of a
an aerial view of a house with a garden
a house view with a garden space
an aerial view of a house
a living room with furniture a chandelier and a flat screen tv
a bedroom with a bed and a potted plant
a living room with furniture and a flat screen tv
a view of an empty room with wooden floor and fan
a view of an empty room with wooden floor and a window
wooden floor in an empty room with a window
wooden floor in an empty room
a kitchen with stainless steel appliances granite countertop a stove and a sink
a view of washer and dryer
a kitchen with stainless steel appliances a sink stove and cabinets
a bathroom with a sink a toilet and a bathtub
a view of an empty room
a view of small space
an empty room with wooden floor and windows
a view of an empty room with a window
a view of a big room with wooden floor and windows
a view of a hallway with wooden floor and staircase
a view of a big room with wooden floor and windows
a utility room with dryer and washer
a white toilet sitting next to a bathroom sink
an empty room with wooden floor and windows
an empty room with a window
a view of an empty room with wooden floor and a window
wooden floor in an empty room with a window
a view of a hallway with wooden floor and cabinets
a hallway with cabinets a sink and a window
a view of an empty room with wooden floor and a window
a view of an empty walk in closet
an empty room with wooden floor and windows
a bathroom with a sink and a bathtub
a view of empty room with wooden floor and fan
an aerial view of a house with garden space and street view
an aerial view of a house with a yard and lake view
an aerial view of a houses with outdoor space and street view
an aerial view of a house with garden space and street view
an aerial view of a house with a garden
an aerial view of a house with a yard and lake view

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...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!
  1. Listed by Basel Tarabein • RE/MAX At Home

Property Details for 604-620 East Grant Highway

Area
Harmony / Marengo
Township
Marengo
Num of Interior Fireplaces
0
Zoning
MULTI
LISTING UPDATED: 10/07/2024 03:09 PM

Property Details for 604-620 East Grant Highway

StatusActive
MLS #12163819
Days on Market137
Taxes$56,793 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Garden Complex
Year Built1978
Lot Size2.42 AC / 105,415 SF
CountyMcHenry County

Building Information for 604-620 East Grant Highway

Stories2Residences48Year Built1978Building Size-Lot Size2.42 AC / 105,415 SF

Property Information for 604-620 East Grant Highway

General Information
Addtl Parking Information
  • Outdoor Parking: 51-100 Spaces
Location and General Information
  • Frontage Type: City Street
  • Information: 24-Hr Notice Required,No Sign on Property
  • Postal Code Plus 4: 3479
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Circuit Breakers, Service - 0 to 100 Amps
  • # Of Washers: 0
  • Basement Description: None
  • Heat/Ventilation: Electric
  • # Of Window/Ac: 48
  • # Of Refrigerators: 48
  • Washer/Dryer Lsd: No
  • # Of Dryers: 0
  • # Of Disposals: 0
  • Num of Baths: 48.0
Exterior Features
  • Building Unit Info: No Units Furnished,Smoke/Alarm Detector
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: No
  • Approximate Age: 36-50 Years
  • Multi-Family Type: Garden Complex
  • Lot Dimensions: 217.6X33X90.2X6X88.4X384.3X281.8X383.9
  • Lot Size Square Feet: 105415.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Construction: Brick, Block
  • Roof Type: Composition
  • Fire Protection: Fire Extinguisher/s,Sprinklers-Wet,Carbon Monoxide Detector(s)
  • Roof Structure: Pitched
  • Foundation Details: Concrete Perimeter
  • Building Area Total: 49680
  • Lot Size Source: County Records
  • # Of Ranges: 48
  • Conversion: N
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Condominium, Multi-Family
  • Buyer Financing: Conventional
  • Public Document Count: 0
  • Photos Count: 41
  • Deconversion: N
Miscellaneous
  • Current Use: Multi-Family
  • Land Amenities: Curbs and Gutters,Lighting/Exterior
  • Location: Central Business District
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 48
Income & Expenses
  • Electric Expense: $3,456.00
  • Fuel Expense: $864.00
  • Gross Income: $742,500.00
  • Gross Scheduled Income: $742,500.00
  • Insurance Expense: $20,000.00
  • Maintenance Expense: $12,000.00
  • Manager Expense: $12,000.00
  • Electric Expense Source: Actual
  • Known Encumbrances: None Known
  • Expense Year: 2023
  • Total Annual Expense Source: Actual
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 1569
  • Manager Expense Source: AC
  • Other Expense Source: Actual
  • Repairs-Decor Expense Source: Owner Projection
  • Trash Expense Source: Actual
  • Total Monthly Income: 61875
  • Water Expense Source: Actual
  • Net Operating Income: $560,700.00
  • Operating Expense: $181,800.00
  • Other Expense: $45,807.00
  • Trash Expense: $6,538.00
  • Water Sewer Expense: $20,748.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 36
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 12
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
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 604-620 East Grant Highway

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 604-620 East Grant Highway

This home is within Marengo-Union E Cons D 165 School District.
Rating
School
Type
Grades
Distance
Locust Elementary School
Public - PK to 3
Marengo Community Middle School
Public - 6 to 8
Marengo High School
Public - 9 to 12
Ulysses S Grant Intermediate School
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.

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More information about 604-620 East Grant Highway, Marengo, IL 60152

604-620 East Grant Highway is a multi-family home for sale in Marengo, IL 60152. This property was listed for sale on September 23, 2024 by RE/MAX At Home, it's currently listed at $6,999,970. 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. 604-620 East Grant Highway is a 84-bed, 48-bath, multi-family home built in 1978.

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 RE/MAX At Home

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 10/07/2024 03:09 PM. 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.