210 - 280 Tedmark Ct Kankakee, IL 60901
Estimated payment $22,661/month
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 $3,999,000 equal to $68,965 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!
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
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/23/2026 03/23/26 | Price Changed | $3,999,000 | -8.1% | -- |
| 02/10/2026 02/10/26 | For Sale | $4,350,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12013807
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Based on information submitted to the MLS GRID
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Ask me questions while you tour the home.