$1,260,000

450 S Dearborn Ave Kankakee, IL 60901

Estimated payment $8,453/month

Total Views 1,042
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

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.

Listing Agent

Harriet Kubicz

HomeSmart Realty Group License #471020838 Listed on: 08/17/2025

HomeSmart Realty Group

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

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$19,056

Year Built

Built in 1966

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 2
  • Year Built: 1966
  • Built Before 1978 (Y/N): Yes
  • New Construction Y/N: No
  • Information: List Broker Must Accompany,48-Hr Notice Required
  • Estimated Age: Older
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Unfinished
  • Fireplaces: 2
  • Dishwashers: 0
  • Refrigerators: 19
  • Ranges: 19
  • Number of Windows: 16
  • Number of Washers: 2
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick, Wood, Vinyl Siding
  • Foundation Details: Concrete Perimeter, Other
  • Frontage Type: City Street
  • List Price: 1260000

Garage/Parking

  • Outdoor Parking: 19-30 Spaces

Utilities

  • Cooling: Central Air, Wall Sleeve, Window Unit(s)
  • Electric: Circuit Breakers
  • Water Source: Municipal Water
  • Heat/Ventilation: Forced Air,Gas,Hot Water,Baseboard
  • Leased Washer Dryer YN: Yes

Condo/Co-op/Association

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

Fee Information

  • Trash Expense: 1260
  • Water Sewer Expenses: 31000
  • Janitor Expense: 0
  • Operating Expense Includes: Pest Control,Trash,Water/Sewer,Electricity,Gas

Lot Info

  • Additional Parcels: Yes
  • Lot Dimensions: 150 X 145
  • Zoning: MULTI
  • Land Amenities: Sidewalks

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 10
  • Tenancy Type: Leases,Section 8

Building Info

  • Building Unit Info: Smoke/Alarm Detector

Multi Family

  • Fuel Expense: 10503
  • Insurance Expense: 7793
  • ElectricExpense: 1200
  • GrossIncome: 231024
  • Maintenance Expense: 10000
  • NumberOfUnitsTotal: 19
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 19055.84
  • Tax Year: 2024

Map

Range of Values:

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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 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)

Source: Midwest Real Estate Data (MRED)

MLS Number: 12446043

Midwest Real Estate Data (MRED)