$165,000

491 S Chicago Avenue, Kankakee, IL 60901

  • 6 beds |
  • 4 baths
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1920
  • Property Lot Size Icon —— sqft lot
  • Property Parking Icon 2 car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

Value-Add 3 Unit with Strong Cash Flow Potential - Kankakee Attention investors - this three-unit property at 491 S Chicago Ave, Kankakee, IL offers a prime opportunity to create equity and generate consistent rental income. One unit is currently habitable and rentable, providing immediate income potential, while two additional units need light remodeling - a perfect setup for a value-add investor looking to increase rents and overall property performance. With updates, this building has the potential to become a strong cash-flowing asset. The property features charming architectural details and curb appeal, adding to long-term tenant desirability. Opportunities like this allow investors to renovate strategically, raise rents, and significantly improve returns. Ideal for: Investors seeking a light rehab project. Buyers looking to house hack and build equity. Portfolio landlords wanting forced appreciation potential. Bring your vision and unlock the income potential this classic Kankakee multi-unit offers!

Listing Status:
Active
Data Last Updated:
March 15, 2026 at 5:18AM
Listing Office:
Compass : 630-677-5061
Listing Agent:
Vasiliki Skliros : 630-677-5061
MLS ID:
12562010
  • Basement: Partially FinishedUnfinishedFull
  • Heating: Natural GasElectricForced Air
  • Parking: YesGarage OwnedAttachedOff StreetDrivewayOwnedGarageParking spaces: 6
  • Roofing: Slate
  • General: Concrete Perimeter
  • HOA Amenities: CurbsSidewalksStreet LightsStreet Paved
  • Originating MLS: mred
  • School District: 111
  • County: Kankakee
  • Zoning: MULTI16170511601900
  • Water: Public
  • Sewer: Public Sewer
  • Source: mred
  • Ownership: Fee Simple

This listing courtesy of Vasiliki Skliros , Compass

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

0.27 miles away

L

Lincoln Cltrl Center-Montessori Elementary School

240 Warren Ave, Kankakee, IL, 60901

Grades KG-8

0.66 miles away

A

Avis Huff Student Support Services Center

369 N 5th Ave, Kankakee, IL, 60901

Grades KG-12

0.95 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.