Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1 Dearborn Sq Kankakee, IL 60901

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space available for rent in Kankakee, Illinois.

    Property size:
    1,000 SF
    Lot size:
    1.52 Acres

    Property Features for 1 Dearborn Sq

    General Information

    Size
    1,000 SF
    Lot size
    1.52 Acres

    We can help!

    Listing Contact
    Jay Tamblyn
    Jay Tamblyn
    Source: Moodyscre

    Listing Agency: McColly Bennett Real Estate Listing Agent: Jay Tamblyn

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Kankakee Office Space Available

    This property offers 1,000 square feet of office space for rent. It is located at 1 Dearborn Sq, Kankakee, IL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chandraiah Law Firm Law Firm Joseph R Yurgine ... Law Firm Scott N. Sliwinski, ... Law Firm Larry D Serene ... Law Firm Glazer Jr Edward Law Firm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Kankakee
    County
    Kankakee
    State
    Illinois
    Longitude
    -87.8630407
    Latitude
    41.1196322

    Nearby Similar for Lease

    • Contact for pricing
      41,466 SF

      Retail Space in Kankakee Center

      Retail spaces available in a prominent Kankakee commercial center.
      1030-1190 North 5Th Ave, Kankakee, IL 60901
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Walmart

      Retail space available near Walmart Supercenter.
      503 Riverstone Pkwy, Kankakee, IL 60901
      View Details
    • $15 SF/Yr

      Downtown Kankakee Office Space Available

      Ground floor office space in downtown Kankakee with high visibility.
      187 S Schuyler Ave, Kankakee, IL 60901
      View Details
    • Contact for pricing
      50,021 SF

      Kankakee Retail Center Investment

      17 Spaces, High-Traffic Location
      1 Meadowview Ctr, Kankakee, IL 60901
      View Details
    • Contact for pricing
      85,000 SF

      Kankakee Warehouse Space Available

      85,000 SF warehouse with truck parking near I-57.
      1625 E Duane Blvd, Kankakee, IL 60901
      View Details
    • Contact for pricing
      12,000 SF

      Kankakee Warehouse Space Available

      12,000 sq ft warehouse space for lease in Kankakee.
      1551 E Willow St, Kankakee, IL 60901
      View Details
    • Contact for pricing
      10,028 SF

      Kankakee Warehouse Space Available

      10,028 SF warehouse space for lease in Kankakee, IL.
      1480 N Hobbie Ave, Kankakee, IL 60901
      View Details
    • Contact for pricing
      9,000 SF

      Kankakee Retail Space Available

      9,000 square foot retail space for lease in Kankakee.
      1610 E Court St, Kankakee, IL 60901
      View Details
    • $8 SF/Yr
      4,950 SF

      Kankakee Office and Medical Space

      Office and medical space available in Kankakee, Illinois.
      70 Meadowview Ctr, Kankakee, IL 60901
      View Details
    • Contact for pricing
      13,108 SF

      Kankakee Flex Space Available

      Flex space with dedicated office and industrial capabilities for rent.
      1405 Stanford Dr, Kankakee, IL 60901
      View Details
    • $14 SF/Yr
      1,849 SF

      Kankakee Office Space Available

      Office space available for rent in Kankakee, Illinois.
      245 S 6Th Ave, Kankakee, IL 60901
      View Details
    • Contact for pricing
      11,803 SF

      Kankakee Office Space Available

      Office space available for rent in Kankakee, Illinois.
      450 N Kennedy Dr, Kankakee, IL 60901
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available for rent in Kankakee, Illinois.
    Where is this office units located?
    The property is located at 1 Dearborn Sq Kankakee, IL.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: - Office space available for rent; - Located in Kankakee, Illinois
    (815) 929-9381 Call to check price and availability
    Request Owner's contact information
    1 Dearborn Sq Kankakee, IL 60901
    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.
    1 Dearborn Sq
    Kankakee, IL 60901
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1 Dearborn Sq Kankakee, IL 60901
    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
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jay Tamblyn
    Jay Tamblyn
    Real Estate License ID: 475131086
    (815) 929-9381 (815) 549-4301
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!