May 10, 2024 – Thomas Shanley and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of twelve (12) 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 $700,000.
The multi-family investment property is located at 390 Walnut Street in Kankakee, Illinois. The Property is comprised of a two-story brick building and contains twelve (12) units comprised of ten (10), 2-Bedroom/1-Bathroom units, and two (2), 1-Bedroom/1-Bathroom units with 9,000 square feet of living space in 11,000 square feet of gross area on a 0.28-acre parcel of land. The well-maintained Property features an on-site laundry facility, ample on-site parking, and green space for the residents. Additionally, the roof and gutters were replaced approximately 2-years ago. The Property is well-located at the intersection of W Walnut Street and S 4th Avenue in a quiet residential neighborhood within walking distance of the Kankakee River and downtown Kankakee which offers a number of retail, dining, employment and entertainment amenities. The Property is seconds from S Schuyler Avenue (US Route 52), the area’s primary north south commuter corridor and is 1.1-miles from W Court Street (IL Route 17), the area’s primary commercial corridor. The Property also enjoys convenient access to IL Routes 113 and 115 and Interstate 57. The Property also offers convenient access to Riverside Medical Center and Ascension Saint Mary – Kankakee, the area’s hospitals, and is close to several area schools including Olivet Nazarene University and Kankakee Community College. 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.