Shopping Center with Value-Add
1280 Kennedy Dr Kankakee, IL 60901
1280 Kennedy Dr, Kankakee, IL, 60901
Contact for pricing
For Sale
Contact for pricing
Pending
Fee-simple sale of a 133,157 SF retail shopping center on 15.14 acres, currently 66.7% occupied.
Property Size133,157 SF
Lot Size15.14 Acres
Days on Market102
Property Features for 1280 Kennedy Dr
General Information
- Standard status
- Pending
- Size
- 133,157 SF
- Lot size
- 15.14 Acres
- Property subtype
- Retail
Listing agency
JLL - Pittsburgh, Pennsylvania
Listed by
Ross Langford · License #PA
Source
Crexi
Added: Apr 11 Updated: Jul 21 at 7:26AM Checked: Jul 21 at 7:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JLL - Pittsburgh, Pennsylvania
Investment Insights
Based on property information with market context.
Lee & Associates presents for fee-simple sale “The Shoppes at Meadowview,” a retail shopping center comprising 133,157 SF of retail space on a 15.14-acre site. The property is currently 66.7% occupied, offering an opportunity to add value through the lease-up of the existing vacancy.
The Shoppes at Meadowview is located at 1280 Kennedy Dr, Kankakee, IL. The offering includes one of the largest and most diverse retail properties in Kankakee, positioned less than 60 miles from downtown Chicago.
An investor may assume in-place financing. The loan originated in 2021 with an original funding of $4,450,000 and a below-market 4% rate through 11/18/2026, followed by a reset to 325 bps over the five-year treasury. The debt amortizes on a 25-year schedule, with a stated term of 10 years and a maturity date of 11/17/2023.
The Shoppes at Meadowview is located at 1280 Kennedy Dr, Kankakee, IL. The offering includes one of the largest and most diverse retail properties in Kankakee, positioned less than 60 miles from downtown Chicago.
An investor may assume in-place financing. The loan originated in 2021 with an original funding of $4,450,000 and a below-market 4% rate through 11/18/2026, followed by a reset to 325 bps over the five-year treasury. The debt amortizes on a 25-year schedule, with a stated term of 10 years and a maturity date of 11/17/2023.
Key Highlights
- Fee‑simple sale of “The Shoppes at Meadowview” on a 15.14‑acre site with 133,157 SF of retail space
- Currently 66.7% occupied, leaving vacancy for lease‑up to add value
- Retail shopping center in Kankakee, IL listed as less than 60 miles from downtown Chicago
Property Analytics
Location Intelligence
Current Use by Public Records
Planet Fitness
Gym & Fitness Center
Similar For Sale Nearby
Similar Off Market Nearby
- The Shoppes at Meadowview — 17 Meadowview Center, Kankakee, IL 60901
FAQs
What type of property is this?
Shopping center - Fee-simple sale of a 133,157 SF retail shopping center on 15.14 acres, currently 66.7% occupied.
Where is this shopping center located?
The property is located at 1280 Kennedy Dr Kankakee, IL.
What are key features of this property?
This property features: Fee‑simple sale of “The Shoppes at Meadowview” on a 15.14‑acre site with 133,157 SF of retail space; Currently 66.7% occupied, leaving vacancy for lease‑up to add value; Retail shopping center in Kankakee, IL listed as less than 60 miles from downtown Chicago
