Listing Agency: McColly Real Estate Corporate s***@gmail.com Show Phone

Listed By: Tammy Schultz · License #IN

Source: Crexi

Added: Apr 11 Changed: Aug 30 Last Checked: Aug 30 at 8:04PM

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Investment Insights

Based on property information with market context.

This five-unit apartment building in Momence includes appliances in each unit, ceiling fans, and wall-mounted air-conditioning units. Three apartments have their own washer and dryer. Unit #1, positioned at the north end, is a 3bd, 2 bath residence that has been completely remodeled. Additional improvements include updated water lines, new electric service, and a roof dated 09'.

The property overlooks the Kankakee River and includes concrete parking. All five units are currently leased, providing an occupied multifamily configuration. No flood insurance is required for the property.

Key Highlights

• Five‑unit apartment building with all units currently leased
• Kankakee River views from the property
• Unit #1 is a completely remodeled 3bd, 2 bath residence

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Parking Lot & Garage Dental Office Nail Salon (Bike/Boat/Book/etc) Store Furniture & Home Goods Spa & Massage Center

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

306

Businesses Nearby

Explore this area Business Placement

Demographics for 60954, IL

5,825

Population

2,395

Households

2.4

Avg Household Size

43

Median Age

13%

College-Educated

88%

High-School Grad

66.2 sq mi

ZIP Area

88

Density / Sq Mi

$58,636

Median Household Income

$43,636

Median Earnings

$838

Median Rent

$159,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Leased apartment property with updated electrical service, resident laundry, and concrete parking.

Where is this apartment building located?

The property is located at 319 1/2 West River Street Momence, IL.

What are key features of this property?

This property features: Five‑unit apartment building with all units currently leased; Kankakee River views from the property; Unit #1 is a completely remodeled 3bd, 2 bath residence