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1870 E Eagle St

6 Unit Apartment Building $500,000 ($83,333/Unit) 7.85% Cap Rate Kankakee, IL 60901

Investment Highlights

  • Transit Oriented Location
  • Value-Add Potential
  • Strong Demographics
  • Downtown Kankakee
  • Strong School District

Executive Summary

Horvath & Tremblay is pleased to present the exclusive sale of the multifamily investment property located at 1870 E Eagle Street in Kankakee, Illinois (the “Property”). The Property is comprised of three (3), two-story buildings and contains six (6), 3-Bedroom/1.5-Bathroom units with 6,600 square feet of living space in 8,000 square feet of gross area on a 0.49- acre parcel of land. The well-maintained Property features a private garage for each unit, ample on-site surface parking, and green space for the residents. The Property is well-located along E Eagle Street on the west side of the city. The Property is positioned across the street from Edison Elementary School in a quiet residential neighborhood within walking distance of the Kankakee River. The Property is 0.7-miles from Court Street (IL Route 17), the area’s primary commercial corridor, and 1-mile from downtown Kankakee which offers a number of retail, dining, employment and entertainment amenities. The Property also enjoys convenient access to the Kankakee Train Station, US Route 52, IL Routes 113 and 115, and Interstate 57. Kankakee is centrally located in Kankakee County and is roughly 52 miles south of Chicago.

Property Facts

Price $500,000
Price Per Unit $83,333
Sale Type Investment
Cap Rate 7.85%
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 0.49 AC
Building Size 6,600 SF
Average Occupancy 100%
No. Stories 3
Year Built 1980
Parking Ratio 1.82/1,000 SF
  • Listing ID: 34211942

  • Date on Market: 12/16/2024

  • Last Updated:

  • Address: 1870 E Eagle St, Kankakee, IL 60901

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