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    Industrial Distribution Warehouse Title is generated by Realmo AI

    339 W Issert Drive W, Kankakee, IL 60901

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    For Sale
    $3,999,999

    COMMERCIAL - Kankakee, IL

    Lot size:
    2.00 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 2:06 pm

    Property Features for 339 W Issert Drive W

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    INDUS
    Standard status
    Active
    APN
    13171940003400
    Lot size
    2.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    37235

    Building Details

    Year built
    2022
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Concrete
    Building materials
    Concrete, Steel Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Craig Cardosi

    Listing agent Craig Cardosi License #475190336

    Listing office Keller Williams ONEChicago 2211 N Elston Ave STE 400, Chicago, IL

    Listing date Jun 1, 2026

    MLS# 12664720

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Built in 2022
    • Metal roof
    • Concrete flooring
    • Construction materials include concrete and steel siding

    Overview

    This industrial distribution warehouse property is offered for sale with INDUS zoning. The offering includes a 2-acre lot, providing a compact, practical site for distribution and other warehouse-related operations.

    Located in Kankakee, Illinois at 339 W Issert Drive W (60901), the property is positioned for industrial users seeking a zoned site to support daily logistics and storage needs. The property’s listing includes the site scale and zoning classification needed for buyers evaluating fit for distribution-oriented use.

    For tenant or investor consideration, this asset is best suited to businesses looking for an industrial distribution warehouse setting within an INDUS zoning environment. Buyers and operators can evaluate the site’s yard and on-site layout as they plan for warehousing, handling, and distribution workflows appropriate to an industrial zoned property. If you’re assessing Kankakee industrial opportunities, this presents a straightforward for-sale industrial holding with confirmed zoning for warehouse/distribution activities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Restaurant Big Box & Wholesale Store Nail Salon Auto Parts Store Hotel & Motel Department Store Storage Facility Bar & Pub Food Market Auto Repair Shop

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

    Similar Places Nearby

    • Kankakee County Fair and Exposition — 213 W 4000 Rd S, Kankakee, IL 60901

    Location Insight

    • Map
    • Local Demand
    City
    Kankakee
    County
    Kankakee
    State
    Illinois
    Longitude
    -87.8751285
    Latitude
    41.0693072

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    FAQs

    What type of property is this?
    Warehouse - Industrial distribution property zoned INDUS, offered for sale in Kankakee with a 2-acre lot footprint.
    Where is this warehouse located?
    The property is located at 339 W Issert Drive W Kankakee, IL.
    What is the asking price?
    The asking price for this property is $3,999,999.
    What are key features of this property?
    This property features: Built in 2022; Metal roof; Concrete flooring
    (312) 216-2422
    We can help!
    Listing Contact
    Craig Cardosi
    Real Estate License ID: 475190336
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    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.

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