O'Neil Property Group

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$160,000
79 Days On Site

341 S 5th Avenue
Kankakee, IL 60901

For Sale|Multi Family|Active
3
Beds
2
Total Baths
1910
Built
County:
Kankakee
Listing Courtesy of MRED as distributed by MLS Grid of Carnelian Realty Group
341 S 5th Avenue341 S 5th Avenue341 S 5th Avenue341 S 5th Avenue
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Excellent investment opportunity! This well-maintained two-unit property offers a great combination of stable rental income, recent improvements, and long-term investment potential. Whether you are an experienced investor looking to expand your portfolio or a first-time investor searching for a property with immediate cash flow, this is an opportunity worth considering. Both units are currently rented, allowing the new owner to begin collecting rental income from day one. The second-floor unit has been occupied by a long-term tenant for over 15 years, providing an impressive history of stability and consistent occupancy. The first-floor unit has been recently updated and is now occupied by a new tenant, offering a fresh rental start while benefiting from the property's recent improvements. The property has been well cared for and maintained, with several important mechanical and electrical updates already completed. Recent improvements include updated furnaces, electrical panels, and water heaters, helping provide peace of mind and reducing the likelihood of immediate major capital expenses. The recently updated first-floor unit adds additional appeal and value to the property, while the established long-term tenancy in the second-floor unit provides a strong rental history. Having both units occupied makes this property particularly attractive to investors seeking an income-producing asset without the uncertainty and expense of extended vacancy periods. This property offers an excellent opportunity to acquire a turnkey, income-producing two-unit building with established rental history, recent updates, and reliable occupancy. With both units currently leased and major systems already updated, this property is well positioned for continued rental income and long-term appreciation.

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Listing Snapshot
PriceΒ 
$160,000
Days On SiteΒ 
79 Days
BedroomsΒ 
3
Inside Area (SqFt)Β 
N/A
Total BathsΒ 
2
Full BathsΒ 
N/A
Partial BathsΒ 
N/A
Lot SizeΒ 
0.17 Acres
Year BuiltΒ 
1910
MLS NumberΒ 
12740729
StatusΒ 
Active
Property TaxΒ 
$3,226
HOA/Condo/Coop FeesΒ 
N/A
Sq Ft SourceΒ 
N/A
Friends & Family
Recent Activity
a month agoListing updated with changes from the MLS
a month agoStatus changed to Active
a month agoPrice changed to $160,000
3 months agoListing first seen on site
General Features
AcresΒ 
0.17
FoundationΒ 
Concrete PerimeterStone
Parking SpacesΒ 
4
Property Sub TypeΒ 
Multi Family
SewerΒ 
Public Sewer
Special CircumstancesΒ 
Standard
StyleΒ 
Traditional
Interior Features
BasementΒ 
UnfinishedFull
HeatingΒ 
Natural Gas
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Exterior Features
Construction DetailsΒ 
Vinyl Siding
ExteriorΒ 
Balcony
Patio And PorchΒ 
Deck
RoofΒ 
Asphalt
Community Features
MLS AreaΒ 
Kankakee
School DistrictΒ 
111
TownshipΒ 
Kankakee
Schools
School District
111
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing Courtesy of MRED as distributed by MLS Grid of Carnelian Realty Group



Based on information submitted to the MLS GRID as of 2026-11-11 08:06 PM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Last checked: 2026-11-11 08:06 PM UTC
MRED DMCA Copyright Information Copyright Β© 2026 Midwest Real Estate Data LLC. All rights reserved.

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