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    Kankakee, IL
    Retail

    Kankakee, IL Retail Space for Sale

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    Bradley, IL Bourbonnais, IL St Anne, IL Manteno, IL Chebanse, IL Custer Park, IL Momence, IL Pembroke Township, IL
    Mixed-Use Corner Retail and Rentals
    Updated: Nov 2, 2025
    Mixed-Use Corner Retail and Rentals

    397 W Station Street, Kankakee, IL 60901

    $199,900
    5,382 sqft
    Main floor offers 3 separate retail units, each with its own entrance, storage, and bathroom
    Second floor includes 2 residential rental units with outside entrances
    Each residential rental is approximately 850 SF with 2 bedrooms and 1 bathroom
    Building has central air plus window A/C and was built in 1900
    Fully occupied with long‑term tenants
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    Shopping Center with Value-Add Lease-Up
    Updated: Apr 11
    Shopping Center with Value-Add Lease-Up

    1280 Kennedy Dr, Kankakee, IL 60901

    Contact for pricing
    133,157 sqft 15.14 AC lot
    Fee‑simple sale of “The Shoppes at Meadowview” on a 15.14‑acre site with 133,157 SF of retail space
    Currently 66.7% occupied, leaving vacancy for lease‑up to add value
    Retail shopping center in Kankakee, IL listed as less than 60 miles from downtown Chicago
    Attractive in‑place financing can be assumed: loan originated in 2021 with original funding of $4,450,000
    Below‑market 4% rate through 11/18/2026, then resets to 325 bps over the five‑year treasury; loan amortizes on a 25‑year schedule
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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 7 Potential Opportunities for your consideration. Besides 2 Active listings in Kankakee, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 1 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.

    Fully Leased Retail Center
    Fully Leased Retail Center

    507 N CONVENT ST, Bourbonnais, IL 60914

    Contact for pricing
    9,782 sqft

    Investment-ready retail center with 100% leased occupancy within the Chicago MSA.

    View details
    Retail and Outdoor Storage Property
    Retail and Outdoor Storage Property

    508 N Kankakee Street, Wilmington, IL 60481

    $799,000
    0.85 AC lot

    A combined retail marketplace with outdoor storage units on an 0.85-acre site in Wilmington, Illinois.

    View details
    Two-Unit Retail Building with Parking
    Two-Unit Retail Building with Parking

    605 W Baltimore Street, Wilmington, IL 60481

    $475,000
    0.50 AC lot

    Two-unit storefront building with B-3 zoning, approximately 25 parking spaces, and high-visibility frontage on Route 66/Route 53.

    View details
    Retail Space For Sale
    Retail Space For Sale

    633 Armour Rd, Bourbonnais, IL 60914

    Contact for pricing

    For sale retail property located at 633 Armour Rd in Bourbonnais, IL.

    View details

    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.

    PUD-Zoned Commercial Land with Frontage
    PUD-Zoned Commercial Land with Frontage

    3229 State Road 207, Elkton, FL 32033

    $1,599,000
    2.07 AC lot

    2.07-acre PUD-zoned parcel on State Hwy 207 with 360 feet of frontage and an on-site renovated 2012 home.

    View details

    Kankakee, IL Retail Space Market Trends and Statistics

    Explore 2 retail space for sale in Kankakee, IL on our real estate platform. These investment opportunities span a total of 138,539 square feet of properties for sale, with an estimated market value of $199,900.

    Sale prices for retail space in Kankakee, IL average $199,900 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Storefront properties 4
    Automotive properties 2
    Banks 2
    Grocery and convenience stores 2
    Shopping centers 2

    Demographics Overview

    Population 33K
    Population Growth (5Y) -6.4%
    Median Household Income $54,557
    College Educated 22.6%

    High-Yield Neighborhoods for Investment

    Identify Kankakee submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    60901 $255K

    Taxes & Financing

    Tax Rate (average for all types) 11.80%
    Tax Rate vs County Average 2.50 pp above county avg
    Average Loan-to-Value 65.0%

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