751-757 N 5th Ave - Apartments FOR SALE


Kankakee, IL 60901
$2,240,000 USD
312-957-7189
751-757 N 5th Ave, Kankakee, IL for Sale
$2,240,000 USD
Apartments - FOR SALE
1/12
null | 8.11% Cap Rate

751-757 N 5th Ave
Kankakee, IL 60901


HIGHLIGHTS

  • Transit Oriented Location
  • Downtown Kankakee
  • Value-Add Potential
  • Strong School District
  • Low Maintenance Brick Buildings
  • Strong Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive sale of the multi family investment property located at 751-757 N 5th Avenue in Kankakee, Illinois (the “Property”). The Property is comprised of four (4), two-story brick buildings constructed in 1978 and contains thirty-two (32), 2-Bedroom/1 Bathroom units with 26,400 square feet of living space in 30,000 square feet of gross area on a 1.68-acre parcel of land. The well-maintained Property features an on-site laundry facility, ample on-site parking, and green space for the residents. The Property is well-located along N 5th Avenue in a residential neighborhood within walking distance of the Kankakee River and downtown Kankakee which offers a number of retail, dining, employment and entertainment amenities. N 5th Avenue is 0.5-miles from W Court Street (IL-17), the area’s primary commercial corridor connecting the Property to IL-113, IL-50, US-52 and Interstate 57. Kankakee is centrally located in Kankakee County and is roughly 52 miles south of Chicago.

FOR SALE DETAILS

PRICE

$2,240,000 USD

PRICE/SF

$72 USD /SF

# OF UNITS

32

PRICE/UNIT

$70,000

CAP RATE

8.11%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

751-757 N 5th Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.68 AC

LAND SF

73,181 SF

ZONING

-

APN/PARCEL ID

16-09-32-106-034

ASK ABOUT THIS PROPERTY

Thomas ShanleyHorvath & TremblayMore Info
312-957-7189

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Thomas ShanleyHorvath & TremblayMore Info
312-957-7189

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.