228 S State Street

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 & 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 lease expires in 2029 with yearly escalations to $4,000 in 2028. The sale includes the restaurant & bar equipment currently being used to operate the business, which includes: prep & cooking equipment, coolers, flat top grills, deep fryers, freezers, etc..