553 S 3rd Ave Kankakee, IL 60901
Estimated payment $1,286/month
About This Home
Introducing a beautifully refreshed two-story four-unit building in the heart of Kankakee, Illinois, just a couple of blocks from the upcoming East Riverwalk park, set to be completed by year's end. All Units are 1 bed 1 bath. Each unit in this fully rented property has been thoughtfully updated before occupancy, featuring modern vinyl plank flooring, fresh paint, and refinished cabinets and countertops. Each unit is equipped with its own refrigerator and stove. The building also offers a newer rubber roof (just three years old), durable vinyl windows, steel staircases, and a basement area with potential for coin laundry installation. Tenants cover their own electric, gas, and water, while the landlord covers sewer and garbage. Current rents are 800, 650, 600, and 750 per unit. Updated plumbing and electrical. Schedule your private showing today!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,032
Year Built
- Built in 1950
Parking
- 8 Parking Spaces
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Potential Bedrooms
- 1 Bathroom
Additional Features
- Partial Basement
- Lot Dimensions are 50x100
- Heating Available
Community Details
- 4 Units
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $3,032 | $25,649 | $2,138 | $23,511 |
| 2023 | $2,922 | $22,850 | $1,905 | $20,945 |
| 2022 | $2,718 | $20,000 | $1,667 | $18,333 |
| 2021 | $2,834 | $20,000 | $1,667 | $18,333 |
| 2020 | $2,925 | $20,000 | $1,667 | $18,333 |
| 2019 | $2,997 | $20,000 | $1,667 | $18,333 |
| 2018 | $3,117 | $20,000 | $1,667 | $18,333 |
| 2017 | $3,569 | $20,000 | $1,667 | $18,333 |
| 2016 | $3,412 | $20,000 | $1,667 | $18,333 |
| 2015 | $3,230 | $20,000 | $1,667 | $18,333 |
| 2014 | $5,601 | $36,000 | $1,667 | $34,333 |
| 2013 | -- | $36,000 | $1,667 | $34,333 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/23/2025 09/23/25 | For Sale | $194,900 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | -- | None Listed On Document | |
| Warranty Deed | $120,000 | Homestar Title | |
| Quit Claim Deed | -- | Regas Neeley P | |
| Grant Deed | $30,000 | Kankakee Cnty Title & Tr |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $115,000 | New Conventional |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12479360
APN: 16-17-06-222-018
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