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20128720
20128722

604 E Grant Hwy, Marengo, IL 60152

BT
IL 471008459
RE/MAX AT HOME
Listed by RE/MAX AT HOME
$6,999,970
638 days on market
Updated 75 days ago

SunnySide Apartments

Details
APN 1136327042
Property Type Multifamily
Sub Type Apartment Building
Square Footage 49,680
Net Rentable (SqFt) 49,680
Units 48
Cap Rate 8.01%
NOI $560,700
Occupancy 100%
Price per SqFt $141
Broker Co-Op Yes
Class B
Year Built 1978
Year Renovated 2023
Buildings 6
Stories 2
Acreage 2.420
Zoning Residential
Parking Spaces 86 spaces
Parking Per SqFt 1.73
Investment Type Institutional
Occupancy Date 01/04/2025
Ownership Corporation

Multifamily | 48 Units | $145,833/unit

Marketing 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!

Investment highlights

*Newer Roof, Siding, Windows & Patio Doors Throughout.

*Fantastic opportunity to increase rent and profit.

*100% Occupied

*Over 8% Actual CAP-Rate

Listing Contacts

BT
IL 471008459
RE/MAX AT HOME
Listed by RE/MAX AT HOME

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$560,700.00
$46,725.00/mo

Valuation Metrics

0
DSCR
8.01%
Cap Rate
8.01%
ROI

Map

Zoning

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R5 ResidentialMulti FamilyMultiple Family District
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View all 26 uses
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Last updated Mar 6, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Tax History

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