247 Merchant St Kankakee, IL 60901
- Commercial real estate
- 0.11 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 247 Merchant St
- Year built
- 1910
- Lot size
- 0.11 lot acres
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a nine-unit rooming house located at 247 W Merchant Street in Kankakee, Illinois, situated on a 0.11-acre lot. The property is currently licensed for rental operations and offers immediate income potential. The building's layout is well-designed for efficient management. The ground floor comprises four single occupancy rooms, a shared kitchen, a common bathroom, and a convenient laundry room for residents. Upstairs, you'll find five additional single rooms and another shared bathroom. This configuration maximizes occupancy and minimizes vacancy risk. The property's current setup is ideal for generating consistent rental income. The asking price is $215,000. Management services are available for those seeking a hands-off approach to property management. This is a turnkey investment ready to generate immediate returns. The property's strong rental history and existing management options make this an attractive proposition for both seasoned investors and those new to the multi-family market. The property's location in Kankakee offers easy access to local amenities and transportation. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location. Don't miss out on this chance to add a valuable asset to your investment portfolio.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kankakee
- County
- Kankakee
- State
- Illinois
- Longitude
- -87.86866
- Latitude
- 41.1197
