Anthony Spangler and Thomas Shanley of Horvath & Tremblay have successfully completed the sale of 37 multi-family units in Kankakee, Illinois. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $2,600,000.
The multi-family investment property, located at 941 N. River Drive in Kankakee, Illinois, is a 37-unit residential complex. The Property is comprised of 21 one-bedroom/one-bathroom units, 12 two-bedroom/two-bathroom units and four two-bedroom/one-bathroom units, with 27,500 square feet of living area in 31,000 square feet of total gross area on a total of 2.3-acres of land.
The three-story building features a brick exterior and landscaped grounds. The building has been well maintained and each unit has a private balcony or patio. The property also features ample on-site parking and an on-site laundry facility. The property is located along a quiet tree lined street in a residential neighborhood. The property abuts the Kankakee River and features an abundance of green space for the residents. Additionally, the property is adjacent to two parks and a nature trail that runs along the banks of the Kankakee River. The property is conveniently located within walking distance of several national retailers including Walgreens, Family Dollar and Circle K, several restaurants including McDonald’s and Popeyes, and Planet Fitness and a movie theatre. The property is one mile from Downtown Kankakee offering convenient access to the area’s grocers, retailers and restaurants. The property is also just 1.5-miles from the Kankakee Train Station and three miles from Interstate 57. Kankakee is centrally located in Kankakee County and is approximately 50 miles from Chicago.
