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27394888
27394864

395 N Harrison Ave, Kankakee, IL 60901

MM
471.006713, IL
RE/MAX Premier
Listed by RE/MAX Premier
$5,200,000
276 days on market
Updated 2 days ago
Opportunity zone

Renaissance Center Apartments

Details
APN 16-09-33-205-007; 16-09-33-205-008; 16-09-32-413-019; 16-09-32-413-014; 16-09-32-413-000; 16-09-32-413-013; 16-09-32-413-012; 16-09-32 413-011; 16-09-32-413-010
Property Type Multifamily
Sub Type Apartment Building
Square Footage 64,000
Units 52
Cap Rate 8.00%
NOI $423,675
Occupancy 95%
Year Built 1984
Year Renovated 2023
Lot Size (SqFt) 58,000
Zoning Multi-Family
Parking Spaces 70 spaces
Parking per 1,000 SqFt 1.09

Multifamily | 8.00% CAP | 52 Units

Marketing description

Introduction to Renaissance Center Apartments The Renaissance Center Apartments is a well-positioned multifamily community in Kankakee, Illinois consisting of a total ten residential buildings across two convenient locations. The property includes eight 4-unit buildings and two 10-unit buildings offering a total of 52 units. A key feature of Renaissance Center Apartments is its longterm Housing and Urban Development (HUD) contract, which secures attractive rental rates through August 3, 2029. This contract provides reliable income stability and strong appeal for both residents and investors.

Kankakee, Illinois Kankakee is the county seat of Kankakee County, in northeastern Illinois. It lies along the Kankakee River, about 60 miles (roughly 100 km) south of Chicago. The city was founded in the mid-1800s, growing around the railroad development and later diversifying into agriculture, manufacturing, and trade. Kankakee serves as a regional hub for commerce, transportation, services, and culture for Kankakee County. The broader county has a population around 100-110,000.

Renaissance Center Apartments : The Center encompasses ten buildings in total. The addresses include: 1725 & 1775 E Cedar St. Kankakee, IL. Which are Two, 10 unit buildings. Then the addresses of 311, 321, 341, 355, 359, 371, 385, 395 N Harrison Ave. Kankakee, IL 60901 which are Eight, 4 unit buildings.

Listing Contacts

MM
471.006713, IL
RE/MAX Premier
Listed by RE/MAX Premier

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$423,675.00
$35,306.25/mo

Valuation Metrics

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DSCR
8.15%
Cap Rate
8.15%
ROI

Map

Zoning

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R-3 ResidentialMulti FamilyMultifamily Residential
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Last updated Mar 6, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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