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ActiveMLS #: 127585541 / 13Get an accurate number
ActiveMLS #: 127585541 / 132 Beds
$160,000
397 W Chebanse Avenue, Chebanse IL, 60922
Est. payment: $1,106/mo · 20% down, 30-year fixed at 6.95%, principal, interest, and taxes per the listing
Property type
Two to Four Units
Listed by Zaneta Sanders with Z Realty Group
Questions about this home: Nick Rife, Rife Realty, (815) 258-1471 or Nick@RifeRealty.com
Overview
"Rare Two-Unit Investment Opportunity in Chebanse" Don't miss this hard-to-find two-unit property in Kankakee County, offering existing rental income and additional upside potential. The property features two separate 1-bedroom units, with one unit on the main level and one upstairs. The upper unit is currently tenant-occupied, giving an investor the opportunity to step into an income-producing property while improving or leasing the remaining unit. Situated on a generous corner lot approximately 60 x 200 per assessor, the property also offers a large yard, detached garage, and unfinished cellar for additional storage. With limited multi-unit inventory in the Chebanse area, this property could be an excellent addition to a rental portfolio or a potential owner-occupant investment for a buyer looking to live in one unit while generating income from the other. Property will not qualify for traditional FHA
Location
397 W Chebanse Avenue, Chebanse IL, 60922
- Township
- Chebanse
- County
- Kankakee
- Area
- Chebanse
Interior
- Bedrooms
- 2
- Total rooms
- 7
- Basement
- Unfinished, Cellar, Exterior Entry, Partial
- Heating
- Natural Gas, Electric
Exterior and lot
- Construction
- Vinyl Siding
- Lot size
- 0.25 to 0.49 acres (60x200)
- Garage spaces
- 2
- Parking
- Garage Owned, Detached, Garage
- Total parking
- 8
- Sewer
- Public Sewer
- Water
- Public
Schools
- Elementary district
- 4
- Middle district
- 4
Listing details
- MLS number
- 12758554
- Status
- Active
- Property type
- Two to Four Units
- Town
- Chebanse
- ZIP
- 60922
- Updated
- Sep 20, 2026
Estimate your payment
Term, years
Your monthly payment will be
$1,106
Principal, interest, and estimated taxes.
Loan $128,000 Down $32,000
- Principal and interest
- $847
- Property taxes (2025, per the listing)
- $259
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, 1:30 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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