1945 Schuyler Ave, Kankakee, IL 60901-8331
This exceptional mixed-use property, located at 1945 S Schuyler Avenue in Kankakee, Illinois, presents a lucrative investment opportunity. The property encompasses approximately three acres of land and currently features twenty mobile homes. All units are vacant, providing a unique chance for a buyer to renovate and reposition the property to maximize its income potential. The current asking price of $849,000 reflects an "as-is" sale, acknowledging the need for renovations and tenant acquisition. The seller anticipates a significant increase in value upon completion of renovations and occupancy. This presents a compelling opportunity for an investor seeking a hands-on project with substantial upside. The property's size and location in Kankakee offer significant potential for future growth and returns. The vacant status of the mobile homes allows for complete control over renovations and tenant selection, enabling the creation of a high-performing income-generating asset. This is a rare chance to acquire a substantial property in a desirable location at a competitive price point. The potential for increased value after renovations makes this an attractive investment for those seeking a project with significant return potential. The property is being sold "as-is" in its current condition, allowing for flexibility in renovation plans and tenant acquisition strategies. This presents a unique opportunity to create a thriving mobile home park in a strategic location.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.