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    Property profile & analytics

    310 Merchant St Kankakee, IL 60901

    • Commercial real estate
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US28-4472916
    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 310 Merchant St

    Year built
    1880
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents three buildings comprising a total of ten rental units in the heart of Kankakee, Illinois. The property boasts eight one-bedroom, one-bathroom units, one two-bedroom, one-bathroom unit, and a single efficiency unit. All units are currently in good condition and command strong rental rates, ensuring a consistent income stream. The current rental license is up-to-date, simplifying the transition for a new owner. Strategically located near Kankakee's downtown area, the Farmers Market, and the city's financial district, this property benefits from high visibility and convenient access to essential amenities. Its prime location ensures consistent tenant demand and strong rental income potential. The property is offered as a whole, but individual building purchases may be possible

    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
    -87.86948
    Latitude
    41.11942

    Comparable in this City

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    • $580,000

      242 Jeffery St, Kankakee, IL 60901

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      Kankakee Mixed-Use Investment Property

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      Downtown Kankakee Office Building

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    Similar Nearby for Sale

    • $250,000
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      Kankakee Commercial Land - $250K

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      View Details
    • $275,000
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      Downtown Kankakee Commercial Property

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      145 Indiana Ave, Kankakee, IL 60901
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      1357 Maple St, Kankakee, IL 60901
      View Details
    • $325,000

      Kankakee Mixed-Use Investment Opportunity

      High-visibility, multi-use property with expansion potential.
      347 Court St, Kankakee, IL 60901
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    • $215,000
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      Kankakee Multi-Family Investment

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    • $580,000

      242 Jeffery St, Kankakee, IL 60901

      Commercial real estate
      242 Jeffery St, Kankakee, IL 60901
      View Details

    Similar Nearby for Lease

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      Kankakee Office Space Available

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      Kankakee Warehouse Space Available

      12,000 sq ft warehouse space for lease in Kankakee.
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    • Contact for pricing
      1,600 SF

      Retail Space Near Walmart

      Retail space available near Walmart Supercenter.
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    310 Merchant St
    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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