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BATHS
MLS#12013807
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
FOR SALE - KANKAKEE - 58 UNIT APARTMENT COMPLEX - This seller is offering the Tedmark & Cooper Apartment Complex, a 58-unit, seven building multifamily portfolio in Kankakee, IL at a purchase price of $3,999,000 equal to $68,965 per unit. The property has been operating under IHDA regulations, with extended use requirements, that ended December 2025, creating a rare and immediate market rate conversion opportunity. With rents below market rate, above normal vacancy and turnover constrained by compliance rules, the portfolio is positioned for a new owner to execute a high impact value add strategy and unlock substantial NOI growth. Also, with the IHDA expiration, this would be an opportune time for the buyer to incorporate RUBS (Ratio Utility Billing System) for additional value add income! PROPERTY OVERVIEW 58 Total Units Across Seven Buildings 210 Tedmark Ct. - 12 units 220 Tedmark Ct. - 4 units 230 Tedmark Ct. - 4 units 240 Tedmark Ct. - 8 units 2755 Cooper Dr. - 12 units 2779 Cooper Dr. - 12 units 280 Tedmark Ct. - 6 units - GREAT INVESTMENT OPPORTUNITY - CALL TODAY!
Property Features
Property Type: Multi Unit - Multiple
Cooling: Wall Sleeve
Lot Size: 2.36 Acres
Roof Type: Fiberglass
Stories: 3.0
Taxes: $17,260
Year Built: 1974
Feature Descriptions
Current Use: Multi-Family
Drains: Balcony/ies
Electric: Circuit Breakers
Exterior: Wood, Vinyl Siding, Brick
Foundation: Concrete Perimeter
Frontage Type: City Street
HVAC: Electric, Gas
Lot Dimensions: 115 200 X 450
Miscellaneous Outdoor: Balcony/ies
Parcel#: 12170310602500
Parking: 51-100 Spaces
Potential Use: Multi-Family
Tenant Pays: Electricity, Heat, Varies by Tenant
Units: 58
Utilities: Sewer Connected
Listed By / Shown By
Listed By
Agency Name: McColly Bennett Real Estate
Agency Phone: 815-929-9381
Shown By
Agency Title: Berkshire Hathaway HomeServices Crosby Starck Real Estate
Agency Phone: 815-397-4040
Estimate Your Payment
Estimated Payment
$ 11,504.75 per month $8,900.04 Principal & Interest $1,438.33 Property Tax $1,166.38 Homeowner's InsuranceChange Payment Information
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210 - 280 Tedmark Court | MLS# 12013807
This multi-family property located at 210 - 280 Tedmark Court, Kankakee, IL 60901 is currently listed for sale with an asking price of $3,999,000. Search Kankakee real estate on www.bhhscrosby.com today.