Welcome to downtown Kankakee! Great opportunity in for the experienced investor looking to add cashflow to his investment, or for the first time buyer looking to house-hack! Walking distance from every amenity one could desire. Including grocery stores, gas stations, parks, museums, library, the list could go on! The Kankakee Riverfront project will be steps away! The building includes 4 similar units: 2 bed 1 bath, 800sqft/units. The building also has an unfinished basement with the opportunity for a laundry room. 2 Parking spots in the rear, 4 Parking spots in the front, and a 1.5 car garage for additional income. Tenants responsible for electric -all equipment is electric! (Heaters and water heaters!) Units have all been updated and rehabbed! All you need to do is is start collecting that cashflow!
Kankakee Riverfront, located between the Kankakee River and Downtown Kankakee, is a riverfront and civic Kankakee neighborhood with a paved riverwalk and limestone public art. The neighborhood’s character concentrates along the Riverwalk at the intersection of South Schuyler Avenue and Merchant Street, where patios, murals, and event lighting frame an after-work promenade. Brick storefront blocks and civic buildings give the streets a classic small-city profile, while the riverbank reads as open parkland. The Majestic Theatre anchors performance nights, and the Kankakee County Museum grounds local history in a former library setting. B. Harley Bradley House adds Prairie School architecture and design tours. Trails and overlooks keep the river as the daily backdrop for walks, runs, and festival weekends.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
CO detectors
Ceiling fan(s)
Multiple water heaters
Electric water heater
20 total rooms
Unfinished/partial basement
Bedrooms
8 bedrooms total
Bathrooms
4 full bathrooms
Kitchen
Stove
Refrigerator
Laundry & utility
Multiple water heaters
Electric water heater
Heating & cooling
Electric heating
Exterior features
50 x 150 lot dimensions
Less than 0.25 acre lot
No notable lot features listed
Zoned for multi-family
Home design
Two-to-four unit building
4 units in the building
Rehab completed in 2026
Fee simple ownership
Built before 1978
Parking
Approximately 5.5 total parking spaces
Owned detached garage and off-street parking
1.5 garage spaces (garage owned)
Construction
Vinyl siding and brick exterior
Concrete perimeter foundation
61–70 years old
Utilities
Public water
Public sewer
Electric service
Financial info
No special service area
Other
Property is listed as a multi-family investment (rental units with existing tenants and lease details)
Unit rents range (examples): $1,450; $1,150; $1,150; one unit vacant
Tenants typically pay electric and other utilities
Some leases expire in 2027
Electricity and solar
View estimated energy costs and solar savings for this home
INVESTMENT OPPORTUNITY FOR SALE - eight (8) income producing properties containing 4 multi-family, 5 single-family and 1 commercial units with an overall 81% occupancy level in Kankakee, IL. Properties will be sold individually or as a bundle on an "As-Is" basis. See additional info for more details.
MRED as Distributed by MLS Grid #09176308
Apr 13, 2016
Listing Removed
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Public Records
Sep 29, 2006
Sold
$133,000
Year
Property tax
Land + Additions
Assessment*
2025
$3,892 (+6.3%)
$4,801 + $30,344
$35,145
2024
$3,661 (+3.8%)
$4,230 + $26,735
$30,965
2023
$3,527 (+7.5%)
$3,768 + $23,817
$27,585
2022
$3,281 (+5.9%)
$3,298 + $20,846
$24,144
2021
$3,097 (+7.8%)
$3,298 + $20,846
$24,144
2020
$2,873 (+4.9%)
$2,985 + $18,865
$21,850
2019
$2,738 (+3.9%)
$2,683 + $16,957
$19,640
2018
$2,636 (−10.7%)
$2,496 + $15,774
$18,270
2017
$2,952 (+6.7%)
$2,311 + $14,606
$16,917
2016
$2,767 (+3.6%)
$2,260 + $14,285
$16,545
2015
$2,672 (−29.3%)
$2,261 + $14,291
$16,552
2013
$3,780
$2,355 + $23,000
$25,355
Public record
Beds
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Baths
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Stories
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Lot width
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Lot depth
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Lot size
7,486 Sq. Ft.
Year renovated
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Finished Sq. Ft.
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Unfinished Sq. Ft.
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Total Sq. Ft.
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Year built
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Style
Other
County
Kankakee County
APN
161706222017
Parking Spaces
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Basement
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Accessible
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HOA Dues
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Garage
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Features
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Last updated by owner on Sep 2, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 105° expected this year, 16 days in 30 years
2/10 Wind Factor
1% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Kankakee, IL • 60901
Average low and high temperatures (°F)
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81
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80
55
70
46
51
36
37
22
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Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 543 S 3rd Ave
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $155,000 and $385,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $155K to $385K.