$45,000

427 S Chicago Avenue, Kankakee, IL 60901

  • 6 beds |
  • 2 baths
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1906
  • Property Lot Size Icon —— sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

Investor Special - Opportunity in the Heart of Kankakee! Massive 2600 sq ft two-unit property offering a rare opportunity for real estate investors looking to rehab, reposition, and maximize rental income. Each unit features 3 generously sized bedrooms with spacious room layouts, providing strong potential for future long-term tenants once renovated. The full basement offers an excellent opportunity to add a shared laundry area, creating an additional income stream and increasing overall property value. Located close to downtown Kankakee, this property is within close proximity to restaurants, gas stations, the public library, Kankakee Farmers Market, City Hall, the courthouse, attorney offices, and numerous other downtown amenities-making it a highly desirable location for future renters. This property is ideal for those looking to renovate, rent, and build long-term wealth in a centrally located area. A new roof has been approved and will be replaced before the end of March. Bring your contractor and your vision-opportunities like this don't come around often. This property is being sold in AS IS condition.

Listing Status:
Active
Data Last Updated:
March 15, 2026 at 4:18AM
Listing Office:
RE/MAX Prestige Homes : 815-671-6209
Listing Agent:
Monica Pizano : 815-671-6209
MLS ID:
12548086
  • Rooms: Foyer
  • Basement: UnfinishedFull
  • Heating: Natural Gas
  • Parking: YesParking spaces: 4
  • Originating MLS: mred
  • School District: 111
  • County: Kankakee
  • Zoning: 16170511601300
  • Water: Public
  • Sewer: Public Sewer
  • Source: mred
  • Ownership: Fee Simple

This listing courtesy of Monica Pizano , RE/MAX Prestige Homes

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

S

Steuben Elementary School

520 S Wildwood Ave, Kankakee, IL, 60901

Grades PK-3

0.28 miles away

L

Lincoln Cltrl Center-Montessori Elementary School

240 Warren Ave, Kankakee, IL, 60901

Grades KG-8

0.65 miles away

A

Avis Huff Student Support Services Center

369 N 5th Ave, Kankakee, IL, 60901

Grades KG-12

0.92 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.