Building Details

Year Built 1968

Listing Agency: Berkshire Hathaway HomeServices Speckman Realty

Listed By: Amanda Armer-Irps · License #475133313 Show Phone

Source: Realtopiare

Added: Aug 19 Changed: Oct 3 Last Checked: Oct 4 at 12:12PM

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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 Berkshire Hathaway HomeServices Speckman Realty

Investment Insights

Based on property information with market context.

Built in 1968, this bank property includes a drive-through, office area, teller lines, kitchenette, vault, and lobby. The existing layout supports financial-institution operations and can also accommodate other business uses. The property is located at 1370 W Court St in Kankakee, Illinois, with access described as easy and the site characterized by high traffic.

Key Highlights

• Drive‑through bank facility at 1370 W Court St, Kankakee, IL 60901
• Existing teller lines, vault, lobby, kitchenette, and office area
• Built in 1968

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,718

Cap Rate

3.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$234,360 $234.4K

Cap Rate 7%

$167,400 $167.4K

Cap Rate 9%

$130,200 $130.2K

Market Conditions

NOI Build-Up for 1,550 SF

Gross rent

$18.6K $12.00/SF

− Vacancy

−$1.9K −$1.20/SF

EGI

$16.7K $10.80/SF

− OpEx

−$5.0K −$3.24/SF

NOI

$11.7K $7.56/SF

Area

Kankakee County, IL

Vacancy

10.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$234,360

Cap Rate 7%

$167,400

Cap Rate 9%

$130,200

Alternative Uses

Best Use

Retail

$167.4K

$146.5K – $195.3K (±1% cap)

NOI $11,718 @ 7.0% cap · market cap 3.18%

Second Best

Specialty Retail

$152.5K

$133.5K – $178.0K (±1% cap)

NOI $10,678 @ 7.0% cap · market cap 2.89%

Theoretical Best

Multifamily LT 5

$1.25M

$1.09M – $1.46M (±1% cap)

NOI $87,531 @ 7.0% cap · market cap 23.72%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Credit Union 1 Credit Union ATM Atm

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Gym & Fitness Center Building Supply Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

982

Businesses Nearby

78k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 44% Shops & Services 30% Groceries 26%

Berkot's Super Foods Groceries

20,505 visits/mo 0.2 miles

Wendy's Dining

15,515 visits/mo 0.3 miles

Circle K Shops & Services

13,164 visits/mo 0.2 miles

Monical's Pizza Dining

6,991 visits/mo 0.1 miles

Dairy Queen Dining

6,414 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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this banks located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Bank - Existing bank improvements include teller lines, a vault, customer lobby, kitchenette, and dedicated office space.

Where is this bank located?

The property is located at 1370 W Court St Kankakee, IL.

What is the asking price?

The asking price for this property is $369,000.

What are key features of this property?

This property features: Drive‑through bank facility at 1370 W Court St, Kankakee, IL 60901; Existing teller lines, vault, lobby, kitchenette, and office area; Built in 1968