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ActiveMLS #: 127407291 / 64Get an accurate number
ActiveMLS #: 127407291 / 643 Beds
$165,000
341 S 5th Avenue, Kankakee IL, 60901
Est. payment: $1,143/mo · 20% down, 30-year fixed at 6.95%, principal, interest, and taxes per the listing
Built in
1910
Lot size
0.17 acres
Property type
Two to Four Units
Listed by Fawad Shahid with Carnelian Realty Group
Questions about this home: Nick Rife, Rife Realty, (815) 258-1471 or Nick@RifeRealty.com
Overview
Excellent investment opportunity! This well-maintained two-unit property offers a great combination of stable rental income, recent improvements, and long-term investment potential. Whether you are an experienced investor looking to expand your portfolio or a first-time investor searching for a property with immediate cash flow, this is an opportunity worth considering. Both units are currently rented, allowing the new owner to begin collecting rental income from day one. The second-floor unit has been occupied by a long-term tenant for over 15 years, providing an impressive history of stability and consistent occupancy. The first-floor unit has been recently updated and is now occupied by a new tenant, offering a fresh rental start while benefiting from the property's recent improvements. The property has been well cared for and maintained, with several important mechanical and electrical updates already completed. Recent improvements include updated furnaces, electrical panels, and water heaters, helping provide peace of mind and reducing the likelihood of immediate major capital expenses. The recently updated first-floor unit adds additional appeal and value to the property, while the established long-term tenancy in the second-floor unit provides a strong rental history. Having both units occupied makes this property particularly attractive to investors seeking an income-producing asset without the uncertainty and expense of extended vacancy periods. This property offers an excellent opportunity to acquire a turnkey, income-producing two-unit building with established rental history, recent updates, and reliable occupancy. With both units currently leased and major systems already updated, this property is well positioned for continued rental income and long-term appreciation.
Location
341 S 5th Avenue, Kankakee IL, 60901
- Township
- Kankakee
- County
- Kankakee
- Area
- Kankakee
Interior
- Bedrooms
- 3
- Total rooms
- 3
- Basement
- Unfinished, Full
- Heating
- Natural Gas
Exterior and lot
- Style
- Traditional
- Construction
- Vinyl Siding
- Roof
- Asphalt
- Exterior features
- Balcony
- Patio and porch
- Deck
- Lot size
- 0.17 acres (50X150)
- Parking
- Owned
- Total parking
- 4
- Sewer
- Public Sewer
- Water
- Lake Michigan
Listing details
- MLS number
- 12740729
- Status
- Active
- Property type
- Two to Four Units
- Year built
- 1910
- Town
- Kankakee
- ZIP
- 60901
- Updated
- Aug 30, 2026
Estimate your payment
Term, years
Your monthly payment will be
$1,143
Principal, interest, and estimated taxes.
Loan $132,000 Down $33,000
- Principal and interest
- $874
- Property taxes (2025, per the listing)
- $269
Ballpark estimated payments for planning. Not a quote or a preapproval.
What this estimate includes
Principal, interest, and property taxes: the listing's reported bill when MRED has one, otherwise an estimate from typical corridor rates. Insurance and any PMI are not included, and this is not an offer of credit. Your real number depends on your credit, the lender, and the property.
Talk to Nick and he will connect you with one of his preferred lenders for a real figure.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of Sep 22, 2026, 2:14 AM CT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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