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Listing provided courtesy of Coldwell Banker RealtyMREDas Distributed by MLSGrid- MLS# 12558710MLS Provider

505 S Chicago AvenueKankakee, IL 60901

Multi-Family · 6 Beds
$191,000 Active

505 S Chicago Avenue Overview

Time on Site:
139 days
Visits:
1

GREAT INVESTMENT OPPORTUNITY IN KANKAKEE FOR 2 UNIT! DOWNSTAIRS IS RENTED. Fully renovated in 2025, this two-unit property offers two ample sized 3-bedroom, 1-bath units designed with open-concept living which supports both relaxation and everyday comfort. The main-level unit features a comfortable living and open dining room, which flows into the kitchen making the area the preferred family entertainment spot! The upper-level unit offers a relaxed yet open-plan layout as well. The unrestricted kitchen opens directly to a light-filled comfortable living area. Both units include well-appointed bathrooms with neutral, cohesive finishes. 2025 renovations include new drywall, fresh interior paint, updated electrical and plumbing, refined modern lighting, and continuous laminate and waterproof vinyl plank flooring throughout. Updated generous sized kitchens and baths with large windows throughout enhance the open, airy feel of each unit. Additional improvements include a partially replaced roof, select new windows, new rear foundation section, a full unfinished basement for storage or utility use, and a detached one-car garage. Call for an appointment today! MONTH TO MONTH LEASE.

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505 S Chicago Avenue Facts & Features

  • Type Multi-Family

Details

General

School Information

  • School District: 111

Building Information

  • New Construction: No
  • Year Built: 1900

Location/Region

  • County Or Parish: Kankakee
  • MLS Area Major: Kankakee
  • Township: Kankakee

Community/Development

  • Community Features: Curbs, Sidewalks, Street Lights, Street Paved

Tax Information

  • Tax Annual Amount: $3,088.94
  • Tax Year: 2024

General Information

  • New Construction: No
  • Ownership: Fee Simple
  • Parcel Number: 16170512301200
  • Property Type: Residential Income
  • Special Listing Conditions: None
  • Zoning: MULTI

Interior

Parking Information

  • Half Baths Building: 0
  • Garage Spaces: 1

Beds/Baths

  • Bathrooms Total: 2
  • Bedrooms Total: 6
  • Bedrooms Possible: 6
  • Full Baths Building: 2

General Information

  • Basement: Unfinished, Full
  • Foundation Details: Concrete Perimeter
  • Heating: Baseboard
  • Rooms Total: 13

Exterior

Parking Information

  • Parking Features: Yes, Garage Owned, Detached, Off Street, Driveway, Owned, Garage
  • Parking Total: 5

Lot Information

  • Additional Parcels: No
  • Lot Features: Corner Lot
  • Lot Size Dimensions: 50 X 85
  • Water Source: Public

Waterfront/View

  • Waterfront: No

Building Exterior/Construction

  • Construction Materials: Vinyl Siding
  • Roof: Asphalt

General Information

  • Sewer: Public Sewer

Unit Information

Unit 1 Details

  • Unit Type: Unit 1
  • Actual Rent: 1300
  • Beds Total: 3
  • Baths Total: 1

Unit 2 Details

  • Unit Type: Unit 2
  • Actual Rent: 0
  • Beds Total: 3
  • Baths Total: 1

505 S Chicago Avenue Neighborhood

Community

60901 (Kankakee) Demographics

37
Median Age
362
Population Density (per sq. mile)
23%
College Educated
$49,090
Estimated Median Income
7,844
Estimated Total Home Owners
5,518
Estimated Total Renters
59% / 41%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

505 S Chicago Avenue Monthly Cost

$
$ %
%
$
$
Jeremy Woods
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

505 S Chicago Avenue Market Data

Based on the last 30 days in this zip code

$225,943
Average List Price
$132
Average Price per Square Foot
16
Properties Sold
88
Average Days on Market
97
Properties for Sale
Calculations provided by Reliance Network

505 S Chicago Avenue History

Date Event Value Agent
2/16/2026Source: MRED Status Change
Active
2/11/2026Source: MRED Added to Database
February 11, 2026
1/4/2023Source: MRED Status Change
Active
12/30/2022Source: MRED Price Reduction
$18,000 -35.7%
12/30/2022Source: MRED Status Change
Price Change
7/29/2022Source: MRED Price Reduction
$28,000 -12.5%
6/20/2022Source: MRED Added to Database
January 27, 2022
5/8/2022Source: MRED Status Change
Active
5/3/2022Source: MRED Price Reduction
$32,000 -15.8%
5/3/2022Source: MRED Status Change
Price Change