Kankakee, IL Apartment buildings for sale

Updated: Jan 3

Mixed-Use Property with Central Air

242 W Jeffery Street, Kankakee, IL 60901

$560,000

0.30 AC lot

Commercial and residential components
0.298‑acre parcel
Central air conditioning
Constructed in 1950
242 W Jeffery Street, Kankakee, IL 60901

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Updated: May 23

Multi-Unit Residential Income Property

2405 E Court Street, Kankakee, IL 60901

$300,000

1.75 AC lot

Commercial income site on the frontage road off IL Rt 17, yards from the north/south entrances to IL Rt 57
Includes a large home with 3 units plus 2 single‑family houses, a 2‑car garage, and a trailer
South home along the Rt 17 frontage road includes 3 apartments (700/month per unit x 3) plus a 2‑car garage (150/month)
Trailer is currently rented for $900 per month; north house is gutted and could be rented for $1,200
If all 7 units are rented, potential income is about $66,600 per year (per listing remarks)

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12-Unit Apartment Building

163 North Rosewood Avenue, Kankakee, IL 60901

$939,120

Renovated multifamily property with refreshed kitchens, bathrooms, flooring, windows, and roof.

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7-Unit Mixed-Use Property

1930 W Station St, Kankakee, IL 60901

$299,900

Two-story configuration combines commercial space with residential apartments.

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Mixed-Use Industrial and Residential Building

257 South West Avenue, Kankakee, IL 60901

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18,000 sqft

Building combines sheet metal business space with five upstairs apartments, including recent upgrades to two units.

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32-Unit Multifamily Building

751-757 North 5th Avenue, Kankakee, IL 60901

$2,240,000

32 residential units feature 2 bed/1 bath layouts in a fully electric building with upgraded electric panels.

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Partially Rehabbed Apartment Complex

2755 Cooper Dr, Kankakee, IL 60901

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52-unit apartment complex with half of units rehabbed and half currently leased.

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6-Unit Brick Apartment Building

330 S Wildwood Avenue, Kankakee, IL 60901

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Fully leased multifamily property with a consistent residential layout and brick construction.

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Based on your search, we've compiled 71 Potential Opportunities for your consideration. Besides 8 Active listings in Kankakee, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 59 Off-Market properties to explore as potential leads

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

First Floor Condo with Garage

17960 Royal Oak Court #1N, Tinley Park, IL 60477

$227,000

1,100 sqft

Two-bedroom condo with garage, in-unit laundry, and updated features.

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24-Unit HUD-Subsidized Apartment Building

111 Bannon, Dwight, IL 60420

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16,160 sqft

Well-maintained 24-unit multifamily property with HUD subsidy support and 2024 pro-forma NOI of $146,467.

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Renovated Apartment Building Portfolio

305 W Mazon Ave, Dwight, IL 60420

Contact for pricing

Two-building residential portfolio with completed renovations and ongoing capital improvements across Dwight and Pontiac.

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Updated Condo in 55+ Building

6320 Pine Ridge Drive #1B, Tinley Park, IL 60477

$264,000

Move-in ready, updated 2-bedroom, 2-bath condo in Tinley Park.

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Off-Market Properties in Kankakee, IL

Consider similar Off-Market properties in Kankakee, IL. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.