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    793 5Th Ave Kankakee, IL 60901

    For Sale
    $249,900

    Six-unit income property, high traffic area.

    Property size:
    5,200 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional investment opportunity presents a six-unit mixed-use property ideally situated at 793 N 5th Avenue in Kankakee, Illinois. The building encompasses 5,200 square feet and features a strategic blend of commercial and residential space. Two ground-floor commercial units provide immediate income potential, complemented by four apartments on the second floor, each offering private interior entry. The property boasts ample parking at the side and rear, a significant advantage in a high-traffic location. With nearly 10,000 vehicles passing daily, this property benefits from exceptional visibility and accessibility. Currently fully occupied, this property is listed at an attractive 12% cap rate, making it an ideal addition to any investment portfolio. The C-2 commercial zoning allows for a variety of uses, ensuring flexibility and future growth potential. This is a turnkey investment ready to generate immediate returns. The property's strong occupancy rate and prime location make it a compelling opportunity for discerning investors seeking a stable and profitable venture in a thriving commercial area. Don't miss this chance to acquire a well-established, income-producing property in a high-demand location.

    Property Features for 793 5Th Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,200 SF

    Building Details

    Year Built
    1943
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jailhouse Rock Bar

    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
    Kankakee
    County
    Kankakee
    State
    Illinois
    Longitude
    -87.87429
    Latitude
    41.12957

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    FAQs

    What type of property is this?
    Commercial real estate - Six-unit income property, high traffic area.
    Where is this commercial real estate located?
    The property is located at 793 5Th Ave Kankakee, IL.
    What is the asking price?
    The asking price for this property is $249,900.
    (815) 929-9381
    Request Owner's contact information
    793 5Th Ave Kankakee, IL 60901
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    Kankakee, IL 60901
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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
    793 5Th Ave Kankakee, IL 60901
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