Shopping Center with Value-Add
For Sale
Contact for pricing
Pending
1280 Kennedy Dr, Kankakee, IL 60901
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 Market148
Property Features for 1280 Kennedy Dr
General Information
Standard status
Pending
Size
133,157 SF
Lot size
15.14 Acres
Property subtype
Retail
Occupancy
67%
Listing Agency:
JLL - Pittsburgh, Pennsylvania
Listed By:
Ross Langford · License #PA
Source:
Crexi
Added: Apr 11
Changed: Aug 25
Last Checked: Sep 4 at 11:18PM
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
Current Use
Lease Details
66.7%
Occupancy
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
81k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 31%
Groceries 5%
Apparel 5%
McDonald's
Dining
21,629 visits/mo
0.1 miles
Circle K
Shops & Services
11,449 visits/mo
0.2 miles
Taco John's
Dining
9,117 visits/mo
0.4 miles
Burger King
Dining
6,346 visits/mo
0.5 miles
Popeyes Louisiana Kitchen
Dining
5,788 visits/mo
0.3 miles
Demographics for 60901, IL
33,628
Population
15,357
Households
2.2
Avg Household Size
39
Median Age
16%
College-Educated
86%
High-School Grad
97.3 sq mi
ZIP Area
346
Density / Sq Mi
$54,557
Median Household Income
$36,244
Median Earnings
$1,020
Median Rent
$143,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- The Shoppes at Meadowview — 17 Meadowview Center, Kankakee, IL 60901
Frequently Asked Questions
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
