Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    508 N Kankakee St Wilmington, IL 60481

    Sponsored
    For Sale
    $1,000,000

    COMMERCIAL - Wilmington, IL

    Lot size:
    0.85 Acres
    Days on Market:
    120
    Last Refresh:
    Jan 5 at 3:06 pm

    Property Features for 508 N Kankakee St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    APN
    0317253290120000
    Lot size
    0.85 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Floors in Building
    2

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

    Listing agent Kelli Brach (708) 478-1212

    Listing date Sep 8, 2025

    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 in Wilmington, IL

    An established business in Wilmington, Illinois, offers a 17,000 sq ft building that houses over 50 vendor booths. The marketplace is a destination for antiques, collectibles, vintage decor, and unique finds, with a loyal customer base and steady stream of visitors. The property includes 39 outdoor storage units, all currently occupied, providing monthly rental revenue. This dual-income model, featuring retail vendor space and storage rental, makes this a stable investment. Located in a prime location, this is a chance to acquire a turnkey business with growth potential. The property is zoned COMMR and has a lot size of 0.85 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Self storage facilities

    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

    Nearby Similar for Sale

    • $3,500,000
      4.06 Acres

      Wilmington Commercial Property For Sale

      Commercial property with main building, car wash, and leaseback.
      1135 S Water St, Wilmington, IL 60481
      View Details
    • $849,750
      0.40 Acres

      Wilmington Restaurant with Apartment

      Bank-owned restaurant with apartment near Route 66.
      403 N Main St, Wilmington, IL 60481
      View Details
    • $784,500

      Multi-Tenant Warehouse with Outdoor Storage

      Warehouse with outdoor storage and income potential in Wilmington, IL.
      27942 S Kelly Rd, Wilmington, IL 60481
      View Details
    • $750,000
      16,000 SF

      Wilmington Retail Space - High Traffic!

      Prime Retail Space, High Visibility, 16,000 sq ft.
      1085 Water St, Wilmington, IL 60481
      View Details

    FAQs

    What type of property is this?
    Shopping center - Established business with retail vendor space and storage rental income.
    Where is this shopping center 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: - Dual-income stream: Retail vendor space and 39 fully occupied outdoor storage units.; - Established, profitable business with a loyal customer base.; - Spacious 17,000 sq ft building with 50+ vendor booths.
    (708) 478-1212
    Request Owner's contact information
    508 N Kankakee St Wilmington, IL 60481
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    508 N Kankakee St
    Wilmington, IL 60481
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.