450 S Dearborn Ave Kankakee, IL 60901
Estimated payment $8,453/month
About This Home
19 Units - 3 buildings, Located less than 2 blocks from Phase 1 of the Kankakee Riverfront Revitalization project, close to shopping, expressway, downtown area, 2 1/2 blocks to Kankakee Farmers Market, plus plenty of restaurants, this Investment Opportunity consists of 3 buildings totaling 19 units. 2024 Real Estate taxes $ 19,055.84 for all 3 buildings. All tenants have access to laundry room facilities located in building 450 (washers/dryers are leased). In addition there is a 5 car garage for additional income/owner use. Tenants responsible their own electric. Owner pays electric for common areas of Building 450, Water & refuse & Gas for all 3 buildings. 450 Dearborn is a brick 12 unit building consisting of 10-2 bedroom units, 2 - 1 bedroom units, roof replaced approx 2017-2018. Building 440 (16-17-05-114-004), windows 2024-2025 and consists of 3 units. Building 466 (16-17-05-114-022) is a brick/stone & siding 4 unit consisting of all 1 bedroom units. Roof & Siding replaced in 2018. Tenants in building 466 have central air. See feature sheet / rent roll for full details. Building Ages of 440 & 466 is unknown. Units in building 440 & 450 have wall or window a/c units (many newer units). 12 unit is serviced by hot water heat (included in rent), 440 & 466 have forced air heat.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $19,056
Year Built
- Built in 1966
Lot Details
- Lot Dimensions are 150 x 145
- Additional Parcels
Home Design
- Mixed Use
- Brick Exterior Construction
- Concrete Perimeter Foundation
Interior Spaces
- 2-Story Property
Utilities
- Forced Air Heating and Cooling System
- Cooling System Mounted In Outer Wall Opening
- Window Unit Cooling System
- Baseboard Heating
- Hot Water Heating System
- Heating System Uses Gas
Community Details
Overview
- 19 Units
Building Details
- Electric Expense $1,200
- Fuel Expense $10,503
- Insurance Expense $7,793
- Maintenance Expense $10,000
- Other Expense $500
- Trash Expense $1,260
- Water Sewer Expense $31,000
- Gross Income $231,024
Map
Home Values in the Area
Average Home Value in this Area
Property History
Date | Event | Price | Change | Sq Ft Price |
---|---|---|---|---|
08/18/2025 08/18/25 | For Sale | $1,260,000 | +165.3% | -- |
12/18/2018 12/18/18 | Sold | $475,000 | -13.6% | -- |
09/21/2018 09/21/18 | Pending | -- | -- | -- |
07/31/2018 07/31/18 | For Sale | $550,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12446043

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