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    Kankakee, IL
    Mixed-Use

    Kankakee, IL Mixed-use Properties for Sale

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    Bradley, IL Bourbonnais, IL Saint Anne, IL Chebanse, IL Manteno, IL Momence, IL Grant Park, IL Pembroke Township, IL
    Mixed-Use Property with Central Air
    Updated: Jan 3
    Mixed-Use Property with Central Air

    242 W Jeffery Street, Kankakee, IL 60901

    $560,000
    0.30 AC lot
    Commercial and residential components
    0.298‑acre parcel
    Central air conditioning
    Constructed in 1950
    242 W Jeffery Street, Kankakee, IL 60901
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    Mixed-Use Property with Outdoor Venue
    Updated: Aug 18
    Mixed-Use Property with Outdoor Venue

    5896 State RT 17 Hwy, Kankakee, IL 60901

    $425,000
    3,500 sqft 0.39 AC lot
    Mixed‑use property with 2 apartments and established bar, tavern, and lounge configuration
    Main two‑story building contains approximately 3,024 square feet
    Hospitality area includes kitchen, food‑preparation space, bar, service areas, and seating for approximately 41–50 guests
    Outdoor amenities include beer garden, stage, porch, rear deck, and fenced gathering area
    Illinois Route 17 exposure with approximately 6,450 vehicles per day based on the 2025 IDOT AADT count
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    7-Unit Mixed-Use Property
    7-Unit Mixed-Use Property

    1930 W Station St, Kankakee, IL 60901

    $299,900

    Two-story configuration combines commercial space with residential apartments.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Mixed-Use Property with Apartments
    Mixed-Use Property with Apartments

    496 North 5th Avenue, Kankakee, IL 60901

    Contact for pricing

    Three upstairs apartments accompany the commercial component and two adjacent lots.

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    Based on your search, we've compiled 11 Potential Opportunities for your consideration. Besides 4 Active listings in Kankakee, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 3 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Mixed-Use Retail & Apartment Building
    Mixed-Use Retail & Apartment Building

    49-63 North Main Street, Manteno, IL 60950

    $1,250,000
    12,800 sqft 0.29 AC lot

    Mixed-use property in Manteno's central commercial area.

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    Multi-Unit Flex Building
    Multi-Unit Flex Building

    465 Mulberry St, Manteno, IL 60950

    Contact for pricing
    6,114 sqft

    Includes two commercial suites, a residential unit, and garage space with overhead-door access.

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    Mixed-Use Building with Apartments
    Mixed-Use Building with Apartments

    127 W Taylor Street, Grant Park, IL 60940

    Contact for pricing

    Combines residential units with office and light warehouse space in one multi-component commercial building.

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    Mixed-Use Building with Apartments
    Mixed-Use Building with Apartments

    121 West Taylor Street, Grant Park, IL 60940

    Contact for pricing

    Two-level property combines street-level commercial space with upper-floor residential apartments.

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    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Frankfort Land for Mixed-Use Development
    Frankfort Land for Mixed-Use Development

    795 Center Road, Frankfort, IL 60423

    Contact for pricing
    11.00 AC lot

    Approximately 11 acres of land for mixed-use development.

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    Cedar Lake B1-Zoned Lot
    Cedar Lake B1-Zoned Lot

    13405 Morse Street, Cedar Lake, IN 46303

    $279,000
    0.88 AC lot

    Versatile 0.88-acre lot in high-traffic Cedar Lake location.

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    Commercial Development Land
    Commercial Development Land

    19611 Crawford Avenue, Flossmoor, IL 60422

    $399,800
    2.53 AC lot

    Commercially zoned acreage near established businesses, schools, residential neighborhoods, and commuter routes.

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    Kankakee, IL Mixed-Use Properties Market Trends and Statistics

    Explore 4 mixed-use properties for sale in Kankakee, IL, showcased through 4 active listings on our real estate platform. These investment opportunities span a total of 3,500 square feet of properties for sale, with an estimated market value of $1,284,900.

    Sale prices for multi use buildings in Kankakee, IL start at $299,900, averaging $428,300, and reaching up to $560,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 33K
    Population Growth (5Y) -6.4%
    Median Household Income $54,557
    College Educated 22.6%

    High-Yield Neighborhoods for Investment

    Identify Kankakee submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    60901 $428.3K

    Taxes & Financing

    Tax Rate (average for all types) 11.80%
    Tax Rate vs County Average 2.50 pp above county avg
    Average Loan-to-Value 65.0%

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