Kankakee, IL Restaurants for sale

Updated: Aug 7, 2025

Kankakee Redevelopment Opportunity

590 S Washington Avenue, Kankakee, IL 60901

$125,000

1,100 sqft · 0.30 AC lot

Ideal corner location with great visibility and access.
Redevelopment opportunity in downtown Kankakee.
Large +/-13,000 sq ft lot with dual alley access.
Across from Kankakee River.
Suitable for auto service or sit‑down restaurant.

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This listing looks promising.

Here's a quick look at some key insights for

590 S Washington Avenue, Kankakee, IL 60901

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Est. Cap Rate

6.1%
Above avg (5.9%)
Est. NOI

$8K
Annual
Price @ 7% Cap

$108K
Suggested
Last Sold

Jul 2021
$621K

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Updated: May 8

Former Bank Branch For Sale

101 Meadowview Center, Kankakee, IL 60901

$500,000

7,231 sqft

Drive‑thru infrastructure already in place.
Ideal for various uses: coffee shop, quick service restaurant, medical, office, or other retail.
Centrally located in Kankakee, minutes from downtown and 2 miles from I‑57.
Surrounded by other retail including Classic Cinemas, Planet Fitness, and City Trends.
Located near Olivet Nazarene University, Bradley‑Bourbonnais High School and Bishop McNamara High School.

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Based on your search, we've compiled 10 Potential Opportunities for your consideration. Besides 2 Active listings in Kankakee, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 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.

Downtown Wilmington Mixed-Use Investment

116-118 S Water Street, Wilmington, IL 60481

$1,165,000

0.30 AC lot

Turnkey, leased mixed-use property in downtown Wilmington.

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Wilmington Restaurant Opportunity

403 N Main Street, Wilmington, IL 60481

$799,000

0.40 AC lot

Bank-owned restaurant with high-quality equipment and second-floor office/apartment.

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Route 41 Commercial Opportunity

20508 Wicker Boulevard, Lowell, IN 46356

$249,000

1,092 sqft · 3.29 AC lot

3+ acre parcel with commercial building and fixer-upper home.

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Commercial Land with Restaurant Potential

20508 Wicker Boulevard, Lowell, IN 46356

$249,000

2,130 sqft · 3.29 AC lot

3+ acre parcel with commercial building and fixer-upper home.

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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.

Commercial Lot with High Visibility

Lot 11 East Mississippi Avenue, Elwood, IL 60421

$150,000

4.72 AC lot

Corner commercial lot in high-traffic area, ideal for development.

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Frankfort Land for Mixed-Use Development

795 Center Road, Frankfort, IL 60423

Contact for pricing

11.00 AC lot

Approximately 11 acres of land for mixed-use development.

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2.91 Acres Corner Location

Lot 1 West Stuenkel Road, University Park, IL 60484

Contact for pricing

2.91 AC lot

2.91 acres in Will County, corner location, industrial park.

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Commercial Lot Near Laraway Road

LARAWAY Road lot: 8, New Lenox, IL 60451

$925,000

4.15 AC lot

4.15 acre commercial lot with utilities in New Lenox.

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Kankakee, IL Restaurants Market Trends and Statistics

Explore 2 restaurants for sale in Kankakee, IL on our real estate platform. These investment opportunities span a total of 8,331 square feet of properties for sale, with an estimated market value of $625,000.

Sale prices for restaurant properties in Kankakee, IL start at $125,000, averaging $312,500, and reaching up to $500,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

Neighborhood	Average Price
60901	$312.5K

Neighborhood

Average Price

60901

$312.5K

Kankakee, IL Restaurants for Sale

590 S Washington Avenue, Kankakee, IL 60901

101 Meadowview Center, Kankakee, IL 60901