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341 S 5th Avenue
Kankakee IL 60901 US

$165,000

Active Listing ID 12740729
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3 bed
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2.00 Bath (2 Full)
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Lot: 0.17 Acres
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Other

$165,000

Active Listing ID 12740729
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341 S 5th Avenue 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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Property Features

  • Facts
  • Lot Size: 0.17 Acres
  • Property Type: Residential Multi Family
  • Property Sub-type: Other
  • Features
  • Full Bathrooms: 2
  • Exterior Finish: Balcony
  • Roof Type: Asphalt
  • Heating Fuels: Natural Gas
  • Additional Features
  • Basement
  • Patio

Property

  • propertytype: Residential Multi Family
  • propertysubtype: Other
  • listprice: 165000
  • unparsedaddress: 341 S 5th Avenue
  • postalcity: Kankakee
  • stateorprovince: IL
  • country: US
  • postalcode: 60901
  • bathroomsfull: 2
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeacres: 0.17
  • lotsizeunits: Acres
  • lotsizearea: 0.17
  • livingarea: 0
  • livingareaunits: Square Feet
  • latitude: 41.11806
  • longitude: -87.872754
  • listagentfullname: Fawad Shahid
  • listagentemail: fawadshahidre@gmail.com
  • listagentkey: 3yd-MREDIL-250696
  • listagentmlsid: 250696
  • listagentpreferredphone: (708) 698-1009
  • listagentofficephone: 7086981009
  • listofficekey: 3yd-MREDIL-29179
  • listofficemlsid: 29179
  • disclaimer: Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: MREDIL
  • yearbuilt: 1910
  • listingcontractdate: 2026-08-24
  • listagenturl: https://carnelianrealtygroup.com/
  • countyorparish: Kankakee
  • parcelnumber: 161706214017
  • elementaryschooldistrict: 111
  • middleorjuniorschooldistrict: 111
  • highschooldistrict: 111
  • constructionmaterials: Vinyl Siding
  • heating: Natural Gas
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 0
  • parkingtotal: 4
  • parkingfeatures: Owned
  • roof: Asphalt
  • waterfrontyn: False
  • franchiseaffiliation: None
  • exteriorfeatures: Balcony
  • architecturalstyle: Other
  • rooms: Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Basement
  • patioandporchfeatures: Deck
  • speciallistingconditions: Standard
  • basement: Unfinished, Full
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: False
  • internetconsumercommentyn: True
  • location: -87.87276, 41.11806
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"Carnelian Realty Group", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "CustomSourceId":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"fawadshahidre@gmail.com", "ListBrokerageCity":"Romeoville", "ListBrokerageCountry":"US", "ListBrokerageEmail":"fawadshahidre@gmail.com", "ListBrokerageLogoUrl":"http://lh.rdcpix.com/34e2f041bee911ef92d00242ac110006k-c3798725299r.png", "ListBrokerageName":"Carnelian Realty Group", "ListBrokeragePhone":"(708) 698-1009", "ListBrokeragePostalCode":"60446", "ListBrokerageStateOrProvince":"IL", "ListBrokerageUnitNumber":null, "ListBrokerageUnparsedAddress":"430 Melissa Circle", "ListBrokerageWebsiteUrl":"https://carnelianrealtygroup.com/", "ListOfficeAddress1":"430 Melissa Circle ", "ListOfficeAddress2":null, "ListOfficeBrokerMlsId":"29179", "ListOfficeCity":"Romeoville", "ListOfficeCountry":"US", "ListOfficeEmail":"fawadshahidre@gmail.com", "ListOfficePostalCode":"60446", "ListOfficeStateOrProvince":"IL", "ListPriceCurrencyType":"USD", "ListingTitle":"Residential Income, Kankakee, IL", "ListingURL":"https://www.realtor.com/realestateandhomes-detail/341-S-5th-Ave_Kankakee_IL_60901_M78895-47559?f=listhub&s=MREDIL&m=12740729&c=rexren", "MLSModificationTimestamp":"2026-08-30 05:06:39", "Neighborhoods":[{"Description":null, "Name":"Kankakee"}], "PostalCode":null, "RoomCount":3, "StateOrProvince":null, "Taxes":[{"TaxAnnualAmount":3226, "TaxDescription":null, "TaxYear":"2025"}], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 8/30/2026 5:17:20 AM GMT
Source Updated Date: 9/5/2026 6:54:38 PM GMT

Courtesy of: Fawad Shahid, Carnelian Realty Group, fawadshahidre@gmail.com

Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.