$4,350,000

210 - 280 Tedmark Ct Kankakee, IL 60901

Estimated payment $24,072/month

-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • 2.36 Acre Lot
  • Wood Siding
  • Heating System Uses Gas

About This Home

FOR SALE - KANKAKEE - 58 UNIT APARTMENT COMPLEX - This seller is offering the Tedmark & Cooper Apartment Complex, a 58-unit, seven building multifamily portfolio in Kankakee, IL at a purchase price of $4,350,000 equal to $75,000 per unit. The property has been operating under IHDA regulations, with extended use requirements, that ended December 2025, creating a rare and immediate market rate conversion opportunity. With rents below market rate, above normal vacancy and turnover constrained by compliance rules, the portfolio is positioned for a new owner to execute a high impact value add strategy and unlock substantial NOI growth. Also, with the IHDA expiration, this would be an opportune time for the buyer to incorporate RUBS (Ratio Utility Billing System) for additional value add income! PROPERTY OVERVIEW 58 Total Units Across Seven Buildings 210 Tedmark Ct. - 12 units 220 Tedmark Ct. - 4 units 230 Tedmark Ct. - 4 units 240 Tedmark Ct. - 8 units 2755 Cooper Dr. - 12 units 2779 Cooper Dr. - 12 units 280 Tedmark Ct. - 6 units - GREAT INVESTMENT OPPORTUNITY - CALL TODAY!

Listing Agent

Buck Tamblyn

McColly Bennett Real Estate License #475131086 Listed on: 02/10/2026

McColly Bennett Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,260

Year Built

  • Built in 1974

Lot Details

  • 2.36 Acre Lot
  • Lot Dimensions are 115 200 x 450

Home Design

  • Mansard Roof Shape
  • Brick Exterior Construction
  • Fiberglass Roof
  • Wood Siding
  • Vinyl Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • 3-Story Property
  • Exterior Basement Entry

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Uses Gas

Community Details

  • 58 Units
  • Gross Income $480,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,260

Year Built

Built in 1974

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Corridor-Exterior Entrance
  • Stories: 3
  • Year Built: 1974
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required
  • Estimated Age: 36-50 Years
  • Actual Status: New
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Possible Use: Multi-Family
  • Room: 0

Exterior Features

  • Construction Materials: Wood, Vinyl Siding, Brick
  • Foundation Details: Concrete Perimeter
  • Frontage Type: City Street
  • Roof: Fiberglass
  • Roof Structure: Mansard
  • Misc Outside: Balcony/ies

Garage/Parking

  • Outdoor Parking: 51-100 Spaces

Utilities

  • Cooling: Wall Sleeve
  • Electric: Circuit Breakers
  • Utilities: Sewer Connected
  • Water Source: Community Water
  • Heat/Ventilation: Electric,Gas

Condo/Co-op/Association

  • Unincorporated (Y/N): No
  • Owners Association (Y/N): No

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 2.36
  • Lot Dimensions: 115 200 X 450
  • Lot Size Sq Ft: 102802
  • Zoning: MULTI
  • Land Amenities: Curbs and Gutters,Sidewalks
  • Alternate Phone Number: (815) 549-4301

Rental Info

  • Tenant Pays: Electricity, Heat, Varies by Tenant
  • Board Number: 21
  • Tenancy Type: Variable

Multi Family

  • GrossIncome: 480000
  • NumberOfUnitsTotal: 58
  • Type Multi-Family: Corridor-Exterior Entrance

Tax Info

  • Tax Annual Amount: 17260.3
  • Tax Year: 2024

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/10/2026 02/10/26 For Sale $4,350,000 -- --
Source: Midwest Real Estate Data (MRED)

Source: Midwest Real Estate Data (MRED)

MLS Number: 12013807

Midwest Real Estate Data (MRED)