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    Kankakee, IL
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    Kankakee, IL Multifamily Properties for Sale

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    Bradley, IL Bourbonnais, IL St Anne, IL Chebanse, IL Manteno, IL Momence, IL Pembroke Township, IL Herscher, IL
    11 properties
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    Remodeled Two-Unit Duplex with Private Laundry
    Updated: May 4
    Remodeled Two-Unit Duplex with Private Laundry

    1095-1097 E Merchant Street, Kankakee, IL 60901

    $185,000
    Remodeled two‑unit duplex with two separate in‑unit laundry setups
    3‑bedroom, 1‑bath unit plus 2‑bedroom, 1‑bath unit configuration
    Front and back porches accessible from both apartments
    Detached 2‑car garage with sidewalk access to the property
    Vinyl siding with asphalt roof and natural gas heating
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    Updated Two-Unit Duplex
    Updated: Jun 16
    Updated Two-Unit Duplex

    1020 E Court Street, Kankakee, IL 60901

    $130,000
    Two‑unit duplex with matching layouts
    Each unit includes 2 bedrooms and 1 bathroom
    Fully rented property
    Newer roof, updated bathrooms, porches, gutters, and downspouts
    Separate tenant‑paid electric; owner pays water, garbage removal, and NICOR bill
    View details
    Well-Maintained Duplex with Garage
    Well-Maintained Duplex with Garage

    357 S ROSEWOOD Avenue, Kankakee, IL 60901

    $190,000

    Well-maintained two-unit duplex with vinyl siding, forced-air natural gas heat, and a garage for parking convenience.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Multi-Unit Residential Income Property
    Multi-Unit Residential Income Property

    2405 E Court Street, Kankakee, IL 60901

    $300,000
    1.75 AC lot

    Residential income property with multiple rental units, including three apartments, and additional structures along the frontage road.

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    Remodeled Two-Unit Duplex
    Remodeled Two-Unit Duplex

    1338 East Chestnut Street, Kankakee, IL 60901

    $160,000
    2,240 sqft

    Updated interiors and building systems create two contemporary rental units with flexible owner-occupant potential.

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    Residential Income Property with City Utilities
    Residential Income Property with City Utilities

    1945 S SCHUYLER AVE, Kankakee, IL 60901

    Contact for pricing
    113,256 sqft

    City water and city sewer serve the property, with tenants directly billed for all utilities.

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    Mixed-Use Industrial and Residential Building
    Mixed-Use Industrial and Residential Building

    257 South West Avenue, Kankakee, IL 60901

    Contact for pricing
    18,000 sqft

    Building combines sheet metal business space with five upstairs apartments, including recent upgrades to two units.

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    Four-Unit Quadplex
    Four-Unit Quadplex

    220 1/2 Entrance Avenue S, Kankakee, IL 60901

    Contact for pricing

    Four-unit quadplex built in 1920, offered for sale at 220 1/2 S Entrance Ave in Kankakee, Illinois.

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    32-Unit Multifamily Building
    32-Unit Multifamily Building

    751-757 North 5th Avenue, Kankakee, IL 60901

    $2,240,000

    32 residential units feature 2 bed/1 bath layouts in a fully electric building with upgraded electric panels.

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    Four-Unit Multifamily Investment Opportunity
    Four-Unit Multifamily Investment Opportunity

    1585 W Station Street, Kankakee, IL 60901

    Contact for pricing

    Four-unit property built in the 1970s with strong rental income.

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    Partially Rehabbed Apartment Complex
    Partially Rehabbed Apartment Complex

    2755 Cooper Dr, Kankakee, IL 60901

    Contact for pricing

    52-unit apartment complex with half of units rehabbed and half currently leased.

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    Based on your search, we've compiled 75 Potential Opportunities for your consideration. Besides 11 Active listings in Kankakee, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 59 Off-Market properties to explore as potential leads, plus 1 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 N Main St, Manteno, IL 60950

    Contact for pricing
    12,800 sqft 0.29 AC lot

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

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    Eight-Unit Apartment Building
    Eight-Unit Apartment Building

    1328 Potomac Place, Bourbonnais, IL 60914

    Contact for pricing

    Eight-unit building features seven two-bedroom apartments and one one-bedroom unit with private balconies and patios.

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    Fully Leased Multifamily Building
    Fully Leased Multifamily Building

    1331 Potomac Place, Bourbonnais, IL 60914

    Contact for pricing

    Apartment building with nine units, including eight one-bedroom and one two-bedroom, with tenants paying utilities.

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    3-Bedroom 55+ Corner Lot Mobile Home
    3-Bedroom 55+ Corner Lot Mobile Home

    1151 Ash Ct, Manteno, IL 60950

    $72,500

    Well-maintained 3-bedroom, 2-bath mobile home on a corner lot in an Oak Ridge 55+ community with 2023 roof updates.

    View details

    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.

    University Park Developable Land
    University Park Developable Land

    976 Mesa Court, University Park, IL 60484

    Contact for pricing
    3.20 AC lot

    3.2 acres with 24 concrete housing pads in University Park.

    View details

    Off-Market Properties in Kankakee, IL

    Consider similar Off-Market properties in Kankakee, IL. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    390 Walnut St
    APARTMENT HOUSE (5+ UNITS)

    390 Walnut St, Kankakee, IL 60901-4975

    $700,000
    Estimated value
    0.17 AC lot
    View details
    1100 Jeffery St
    APARTMENT HOUSE (5+ UNITS)

    1100 Jeffery St, Kankakee, IL 60901-4680

    $5,430,000
    Estimated value
    4.53 AC lot
    View details
    564 Indiana Ave
    APARTMENT HOUSE (5+ UNITS)

    564 Indiana Ave, Kankakee, IL 60901-2430

    $105,000
    Estimated value
    View details
    675 Entrance Ave
    APARTMENT HOUSE (5+ UNITS)

    675 Entrance Ave, Kankakee, IL 60901-2365

    $600,000
    Estimated value
    0.24 AC lot
    View details
    924 Willow St
    APARTMENT HOUSE (5+ UNITS)

    924 Willow St, Kankakee, IL 60901-2572

    $1,445,000
    Estimated value
    0.33 AC lot
    View details
    163 Rosewood Ave
    APARTMENT HOUSE (5+ UNITS)

    163 Rosewood Ave, Kankakee, IL 60901-4170

    $1,445,000
    Estimated value
    0.17 AC lot
    View details
    1525 Risser St
    APARTMENT HOUSE (5+ UNITS)

    1525 Risser St, Kankakee, IL 60901-4471

    $375,000
    Estimated value
    0.20 AC lot
    View details
    450 Dearborn Ave
    APARTMENT HOUSE (5+ UNITS)

    450 Dearborn Ave, Kankakee, IL 60901-5157

    $300,000
    Estimated value
    0.25 AC lot
    View details
    751 5th Ave
    APARTMENT HOUSE (5+ UNITS)

    751 5th Ave, Kankakee, IL 60901-2268

    $1,900,000
    Estimated value
    1.68 AC lot
    View details
    1745 Duane Blvd
    APARTMENT HOUSE (5+ UNITS)

    1745 Duane Blvd, Kankakee, IL 60901-5754

    $800,000
    Estimated value
    View details
    250 Entrance Ave
    APARTMENT HOUSE (5+ UNITS)

    250 Entrance Ave, Kankakee, IL 60901-3669

    $830,000
    Estimated value
    0.46 AC lot
    View details
    2200 Ct St
    APARTMENT HOUSE (5+ UNITS)

    2200 Ct St, Kankakee, IL 60901-2829

    $5,000,000
    Estimated value
    2.17 AC lot
    View details
    1002 Hickory St
    APARTMENT HOUSE (5+ UNITS)

    1002 Hickory St, Kankakee, IL 60901-3435

    $275,000
    Estimated value
    0.22 AC lot
    View details

    Kankakee, IL Multifamily Properties Market Trends and Statistics

    Explore 70 multifamily properties for sale in Kankakee, IL, showcased through 11 active listings on our real estate platform. These investment opportunities span a total of 133,496 square feet of properties for sale, with an estimated market value of $3,205,000.

    Sale prices for multifamily properties in Kankakee, IL start at $130,000, averaging $534,166, and reaching up to $2,240,000 — 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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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Apartment buildings 4
    Duplexes 4
    Quadplexes 2
    Mobile home & RV parks 1

    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 $467.6K

    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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