Commercial Real Estate Market in Kankakee, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
71 active listings and 1,463 off-market properties in Kankakee, IL. Commercial property asks $155/SF to buy and $15.00/SF/Yr to lease.
Market Trends
Kankakee, IL spans 97.3 square miles in Kankakee County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Kankakee, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Kankakee, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Kankakee, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
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
Single Family Residential
Heavy Industrial
Service Commercial
Light Industrial
Neighborhood Commercial
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.
Service Commercial (C-2)
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.
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
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Bradley | — | $15.84 |
| Aroma Park | — | — |
| Bourbonnais | — | $18.79 |
| Sammons Point | — | — |
Commercial property in Kankakee, IL asks $155/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Kankakee?
Commercial property in Kankakee, IL asks an average of $155 per square foot.
How much does it cost to lease commercial space in Kankakee?
Asking lease rates in Kankakee, IL average $15.00 per square foot per year.
What zoning applies to commercial property in Kankakee?
Kankakee, IL zones 7,899 acres across 9 districts, of which 9.1% is commercial and 42.4% industrial. The largest single district is Single Family Residential at 43.6% of zoned land. Residential zoning covers 46.3% and open space 0%.
Where does Realmo's Kankakee market data come from?
Realmo compiles Kankakee, IL figures from 4 recent recorded sales, 59 active sale listings, 12 active lease listings, 1,463 tracked off-market properties, the current Kankakee zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 59 active for-sale and 12 active for-lease listings in Kankakee, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- 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 August 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 August 2026 · report a data issue
