High Cash Flow Multi-tenant Flex Building

200 North Schuyler Avenue, Kankakee, IL

Market Price

Price

3.07 acres

Lot Area

92%

Occupancy

Gallery
Street
Map
Overview
Lot Area
3.07 acres
Occupancy
92%
Year Built
1969
Tenancy
Multiple
Floors
2
Parking Spots
400
Year Last Renovated
2007
Description

RI Marketplace Online Auction June 3-5, 2024
Register to Bid on Marketplace:

https://rimarketplace.com/auction/1949/high-cash-flow-multi-tenant-flex-building?utm_source=brevitas&utm_medium=listing&utm_campaign=mixeduse_1949


Baum Realty Group, LLC has been exclusively retained to market for sale via a RI Marketplace Online Auction this multi-tenant building located at 200 N. Schuyler Avenue, Kankakee, IL (the "Property"). Situated on a ±3.07 acre parcel of land conveniently located in the downtown district of Kankakee, the Property encompasses ±99,022 SF rentable square feet. The building is supported by a large, ±400 car parking lot which is leased by ownership under a long term lease with the City of Kankakee.

The Property offers a stable flow of in-place income from a diverse array of tenants with the opportunity to add value through leasing the available 7,652 SF of vacancy. In addition, the 92% leased property is located in close proximity to other governmental buildings, such as the Kankakee County Courthouse, The City of Kankakee Administration Building, the Kankakee Public Library, and the police station.

The Property is located within the Kankakee Riverfront TIF district. I-57 is less than two miles away and is a vital link to the transportation network for Kankakee County.

All property tours must be registered 24 hours in advance with Tyler Dechter - tyler@baumrealty.com, 312.275.3132.

Scott Bowers, Auctioneer
Fisher Auction Company Inc.
License: 040000273

Highlights
  • Stable in place income derived from a wide array of non-traditional commercial tenants, providing rent roll diversification and a resilient income stream.
  • Well-established tenants with long operating histories at the property and recent lease renewals.
  • Substantial in-place Net Operating Income (NOI) with considerable lease term remaining.
  • Centrally located within downtown Kankakee.
  • Professionally managed, well-maintained property with minimal deferred maintenance.
  • Prime opportunity for investors seeking a stable, cash flowing asset with room to increase rents over time.
  • River Valley and Thresholds offer tax-advantaged in-kind rent structures in their lease, enabling landlords to leverage additional tax deductions. Please consult an accountant to explore how this can benefit a Buyer.
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