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    508 N Kankakee St Wilmington, IL 60481

    For Sale
    $1,000,000

    Business Opportunity - Wilmington, IL

    Property size:
    17,000 SF
    Days on Market:
    105
    Last Refresh:
    Dec 15 at 12:06 am

    Property Features for 508 N Kankakee St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    APN
    0317253290120000
    Size
    17,000 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Architectural style
    Other

    Village Realty (708) 478-1212 [email protected]

    Listing agent Kelli Brach (708) 478-1212 License #475195585

    Listing date Sep 2, 2025

    MLS# 12458780 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Profitable Business Opportunity in Wilmington

    An established business opportunity is available in Wilmington, Illinois. Milltown Market & Storage features a 17,000 square foot building that houses over 50 vendor booths. The marketplace is a regional destination for antiques, collectibles, vintage decor, and one-of-a-kind finds, with a loyal customer base and a steady stream of visitors year-round. The property includes 39 outdoor storage units, all with paying tenants, providing reliable monthly rental revenue. This dual-income model, featuring retail vendor space plus storage rental, makes Milltown Market & Storage a unique and stable investment. The property is zoned COMMR and located in Will County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    Will
    State
    Illinois
    Longitude
    -88.1431036
    Latitude
    41.3048733

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    FAQs

    What type of property is this?
    Retail space - Established business with retail vendor space and storage rental income.
    Where is this retail space located?
    The property is located at 508 N Kankakee St Wilmington, IL.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: - Established, profitable business with dual-income model (retail vendor space and storage rental).; - Spacious 17,000 sq ft building with 50+ vendor booths, attracting a loyal customer base.; - 39 outdoor storage units with paying tenants, providing reliable monthly rental revenue.
    (708) 478-1212
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    508 N Kankakee St Wilmington, IL 60481
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    Wilmington, IL 60481
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    508 N Kankakee St Wilmington, IL 60481
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