October 20, 2023 – Thomas Shanley and Andrew O’Connell of Horvath & Tremblay have successfully completed the sale of eight (8) multi-family units in Kankakee, Illinois. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $460,000.
The multi-family investment property is located at 260 S Curtis Avenue and 1585 W Station Street in Kankakee, Illinois. The Property is comprised of two adjacent two-story brick buildings, both constructed in 1985, that contain a total of eight (8) units comprised of six (6) 2-Bedroom/1-Bathroom units and two (2) 1-Bedroom/1-Bathroom unit. The buildings have a total of 6,000 square feet of living space in 8,000 square feet of gross area, on a combined parcel size of 0.59-acres. The Property also features on-site laundry facilities and ample on-site parking. The Property is within walking distance of several bus stops operated by the River Valley Metro, with service running seven days a week in Kankakee as well as the nearby cities of Aroma Park, Bradley, Bourbonnais, and Manteno. S Curtis Avenue is just off of IL-17, the major east-west road that bisects Kankakee and provides easy access to IL-113, IL-50, US-52 and Interstate 57, which provides a direct route to Chicago. Additionally, the Property is just over a mile from the Kankakee Amtrak station, with daily service between Chicago and Carbondale, IL, as well as from Chicago to Memphis and New Orleans. The Property is situated approximately one mile from downtown Kankakee, which offers a number of retail, dining, employment and entertainment amenities. Downtown Kankakee is home to the Kankakee Farmers’ Market, the annual Merchant Street Musicfest and the Kankakee Depot, a former railroad station that now serves as a focal point for the city and is the premier place for community gatherings and celebrations. Kankakee is centrally located in Kankakee County and is roughly 52 miles south of Chicago.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.