Commercial Real Estate Market in Kankakee, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
34 active listings and 1,463 off-market properties in Kankakee, IL. Commercial property asks $60/SF to buy (based on 3 listings) and $15.00/SF/Yr to lease (based on 9 listings).
Market Trends
Kankakee, IL spans 97.3 square miles in Kankakee County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Kankakee, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Kankakee, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Kankakee, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Multifamily
Multifamily vacancy in Kankakee, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 46.3%
- Industrial 42.4%
- Commercial 9.1%
- Civic 2.2%
Largest Zones share of zoned land by district
Kankakee, IL zones 7,899 acres across 9 districts. Commercial zoning covers 9.1% of zoned land, residential 46.3% and industrial 42.4%. The largest single district is Single Family Residential at 43.6%. For commercial buyers the practical constraint is that only 51.5% of land carries a commercial or industrial designation.
C-2 and C-3 Commercial Zoning Districts. C. Permit Requirements. All building permit requirements and general regulations shall be met, including the Building Code, Zoning Code and the requirements referenced herein. No system shall be cons tructed or installed without first obtaining a building permit. D. Application Requirements. (1) An application for per…
Market overview
Demographics & Economy
Kankakee, IL has 33,628 residents in 15,357 households. Density runs 346 people per square mile. Median household income here is $54,557 and median gross rent $1,020 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Bourbonnais | $213 | $19.00 |
| Manteno | $200 | $16.00 |
Commercial property in Kankakee, IL asks $60/SF. The 2 bordering markets run from $200/SF in Manteno to $213/SF in Bourbonnais, and the city sits below their $207/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Kankakee?
How much does it cost to lease commercial space in Kankakee?
How does Kankakee compare to nearby markets on price?
What zoning applies to commercial property in Kankakee?
Where does Realmo's Kankakee market data come from?
Methodology & data sources
- Asking prices and medians
- There are 17 active for-sale and 17 active for-lease listings in Kankakee, IL. The medians are based on 3 of the for-sale and 9 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 7,899 zoned acres across 9 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
