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    6 Dearborn Sq Kankakee, IL 60901

    • Commercial real estate
    For Sale
    View listing
    $549,000
    Value Estimation
    Last Sale
    Apr 15, 2024
    $137,500
    Location Intelligence
    Property ID
    US28-3789200
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 6 Dearborn Sq

    Property type
    Commercial real estate
    APN
    16-09-32-433-026
    APU
    160932433026

    Description

    This exceptional 14,640 square foot office building is ideally situated in the heart of downtown Kankakee, Illinois, at 6 Dearborn Square. Its central location offers unparalleled convenience, with close proximity to the courthouse, banks, and the vibrant farmers market. The building itself is a sturdy steel frame, block, and brick structure, maintained in excellent condition. The expansive interior boasts over 13,000 square feet of versatile office space, perfectly suited for a variety of business needs. A significant feature is the large storage area, offering ample space and boasting impressive 24-foot ceiling heights. The building's comprehensive fire safety system includes a fully installed sprinkler system, ensuring peace of mind for occupants. The layout includes over 20 individual offices, multiple well-appointed conference rooms, and conveniently located restrooms. This property presents a rare opportunity to acquire a substantial and well-maintained commercial space in a thriving downtown area. The building is available for sale or lease, making it an attractive option for businesses seeking a prominent and functional location. Its prime location and substantial size make it an exceptional investment opportunity. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kankakee
    County
    Kankakee
    State
    Illinois
    Longitude
    -87.8623
    Latitude
    41.1196
    CBSA code
    28100
    CBSA name
    KANKAKEE-BRADLEY, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $33,890
    $12,901
    $216,290
    $229,191
    -
    $38,703
    $648,870
    $687,573

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    6 Dearborn Sq
    Kankakee, IL 60901
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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