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
    The Largest CRE Database in the US with Over 1 Million Listings

    1198 N Schuyler Ave Kankakee, IL 60901

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $320,000

    Retail property with 4,825 square feet of space.

    Property size:
    4,825 SF
    Lot size:
    0.16 Acres

    Property Features for 1198 N Schuyler Ave

    General Information

    Size
    4,825 SF
    Lot size
    0.16 Acres

    We can help!

    Listing Contact
    Joe Nugent
    Source: Moodyscre

    Listing Agent: Joe Nugent

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

    Learn more

    Property Insight Report

    Overview

    Retail Property in Kankakee, IL

    This retail property is located in Kankakee, Illinois, and offers 4,825 square feet of space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    L & G Radiator ... Auto Radiator Repair Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Kankakee
    County
    Kankakee
    State
    Illinois
    Longitude
    -87.86585
    Latitude
    41.1071

    Nearby Similar for Sale

    • New
      $45,000
      2,600 SF

      Kankakee Multifamily Investment Opportunity

      Two-unit property near downtown Kankakee, ideal for renovation and rental.
      427 S Chicago Ave, Kankakee, IL 60901
      View Details
    • $125,000
      0.06 Acres

      Kankakee Restaurant with Garage

      Well-located restaurant with garage near hospitals and Metra station.
      430 W Station St, Kankakee, IL 60901
      View Details
    • $560,000
      0.30 Acres

      Mixed-Use Investment Opportunity, Kankakee

      Mixed-use property in prime location, great investment opportunity.
      242 W Jeffery St, Kankakee, IL 60901
      View Details
    • New
      $255,000
      0.50 Acres

      Kankakee Commercial Property For Sale

      Commercial property in Kankakee, IL, with multiple potential uses.
      150 E Brookmont Blvd, Kankakee, IL 60901
      View Details
    • $99,999

      Kankakee Multi-Family Investment Opportunity

      Two-unit multi-family home with Craftsman details and income potential.
      312 S Evergreen Ave, Kankakee, IL 60901
      View Details
    • $1,499,727
      20,880 SF

      Self-Storage Portfolio in Two Locations

      Two self-storage facilities with upside potential in Illinois and Indiana.
      380 S 7Th Ave, Kankakee, IL 60901
      View Details
    • $125,000

      Kankakee Redevelopment Opportunity

      Redevelopment opportunity in downtown Kankakee, ideal corner location.
      590 S Washington Ave, Kankakee, IL 60901
      View Details
    • $44,900

      Spacious Mobile Home in Kankakee

      Affordable 4-bedroom, 2-bathroom mobile home in well-kept community.
      1995 Schuyler Ave, Kankakee, IL 60901
      View Details
    • $369,000

      Bank Branch with Drive-Through

      Prime location equipped for bank or adaptable for retail.
      1370 W Court St, Kankakee, IL 60901
      View Details
    • $499,000
      43,000 SF

      Kankakee Office Building For Sale

      Office building with air conditioning available for purchase in Kankakee.
      8 Dearborn Sq, Kankakee, IL 60901
      View Details
    • $249,900
      5,200 SF

      Retail Property in Kankakee, IL

      Retail property available for sale in Kankakee, Illinois.
      793-797 N 5Th Ave, Kankakee, IL 60901
      View Details
    • $149,900
      720 SF

      Retail Property in Kankakee, IL

      Retail property featuring 720 square feet of space for sale.
      1375 W Court St, Kankakee, IL 60901
      View Details

    FAQs

    What type of property is this?
    Retail property - Retail property with 4,825 square feet of space.
    Where is this retail property located?
    The property is located at 1198 N Schuyler Ave Kankakee, IL.
    What is the asking price?
    The asking price for this property is $320,000.
    What are key features of this property?
    This property features: - 4,825 square feet of retail space.
    (815) 509-9005
    Request Owner's contact information
    1198 N Schuyler Ave 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.
    1198 N Schuyler Ave
    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
    1198 N Schuyler Ave 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!
    Listing Contact
    Joe Nugent
    (815) 509-9005
    Learn more
    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.