Real Estate Investment Properties for Sale in Kankakee, IL

Looking for investment property in Kankakee, IL with high ROI ?

Explore a variety of short-term homes & houses in Kankakee, IL. Invest wisely with VRBO & Kankakee, IL Airbnb properties available for purchase. Find your ideal investment property among our curated listings for a rewarding real estate venture.

Investment Property for Sale in Kankakee, IL

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
957 S 7th Avenue Kankakee, IL Welcome to your next home in desirable west Kankakee. This 3 bedroom, 2 bath house has a f...	3 beds \| 2 baths \| 1,248 sq.ft.	$180,000	Airbnb cash on cash: 3.77% Traditional cash on cash: 8% Airbnb Rental Income: $1715 Traditional Rental Income: $1965 Airbnb ROI: 3.77% Traditional ROI: 8%
1055 S Myrtle Avenue Kankakee, IL Welcome Home. This 4 bedroom 1.5 bath with a full Basement offers updated kitchen beautif...	4 beds \| 2 baths \| 2,000 sq.ft.	$249,000	Airbnb cash on cash: 4.19% Traditional cash on cash: 7.02% Airbnb Rental Income: $2445 Traditional Rental Income: $2514 Airbnb ROI: 4.19% Traditional ROI: 7.02%
2925 Waldron Rd Kankakee, IL Start making memories in this beautiful, 4 bedroom, 2 bath, 2 story home on an oversized c...	4 beds \| 2 baths \| 2,063 sq.ft.	$241,900	Airbnb cash on cash: 4.46% Traditional cash on cash: 5.5% Airbnb Rental Income: $2445 Traditional Rental Income: $2085 Airbnb ROI: 4.46% Traditional ROI: 5.5%
231 S Chicago Avenue Kankakee, IL Welcome to this beautiful and spacious 4-bedroom, 2-bath brick home in the heart of downto...	4 beds \| 2 baths \| 2,126 sq.ft.	$220,000	Airbnb cash on cash: 5.94% Traditional cash on cash: 7.98% Airbnb Rental Income: $2445 Traditional Rental Income: $2274 Airbnb ROI: 5.94% Traditional ROI: 7.98%
27 Marquette Lane Kankakee, IL Sprawling Ranch home! With close to 4000 Sq ft of living space, you have so many options w...	4 beds \| 5 baths \| 3,924 sq.ft.	$445,000	Airbnb cash on cash: 1.12% Traditional cash on cash: 8.52% Airbnb Rental Income: $2445 Traditional Rental Income: $4931 Airbnb ROI: 1.12% Traditional ROI: 8.52%
1095-1097 E Merchant Street Kankakee, IL Fantastic Investment Opportunity in Kankakee! This remodeled 2-unit building is ideal for ...	5 beds \| N/A baths \| N/A	$195,000	Airbnb cash on cash: N/A Traditional cash on cash: 10.89% Airbnb Rental Income: $null Traditional Rental Income: $2522 Airbnb ROI: N/A Traditional ROI: 10.89%
545 S May Avenue Kankakee, IL Recently renovated home with attached garage - just a short walk away from Small park. Bu...	2 beds \| 1 baths \| 1,390 sq.ft.	$159,900	Airbnb cash on cash: 1.46% Traditional cash on cash: 7.03% Airbnb Rental Income: $1311 Traditional Rental Income: $1754 Airbnb ROI: 1.46% Traditional ROI: 7.03%
353 S 5th Avenue S Kankakee, IL Step inside this spacious 3-story, 4-bedroom, 2-bath home that combines charm with modern ...	4 beds \| 2 baths \| 2,000 sq.ft.	$185,000	Airbnb cash on cash: 7.61% Traditional cash on cash: 11.45% Airbnb Rental Income: $2445 Traditional Rental Income: $2524 Airbnb ROI: 7.61% Traditional ROI: 11.45%
1100 W Calista Street Kankakee, IL Welcome to this beautiful and expansive 3,900 sq ft 2-story home in Kankakee, backing up t...	4 beds \| 3 baths \| 3,900 sq.ft.	$354,900	Airbnb cash on cash: 1.12% Traditional cash on cash: 4.98% Airbnb Rental Income: $2445 Traditional Rental Income: $3137 Airbnb ROI: 1.12% Traditional ROI: 4.98%
2886 S Southbrook Drive Kankakee, IL See the potential in the large raised ranch brick home in Kankakee. This home has 3 bedro...	3 beds \| 2 baths \| 1,500 sq.ft.	$164,754	Airbnb cash on cash: 2.49% Traditional cash on cash: 8.24% Airbnb Rental Income: $1715 Traditional Rental Income: $2144 Airbnb ROI: 2.49% Traditional ROI: 8.24%
1875 Notre Dame Street Kankakee, IL You won't want to miss this move in ready Ranch, tucked away in this quiet location! Lami...	3 beds \| 1 baths \| 1,120 sq.ft.	$195,000	Airbnb cash on cash: 3.89% Traditional cash on cash: 6.22% Airbnb Rental Income: $1715 Traditional Rental Income: $1673 Airbnb ROI: 3.89% Traditional ROI: 6.22%
1068 S Wildwood Avenue Kankakee, IL Welcome to this beautiful brick home located in the desirable Historic Riverview subdivisi...	4 beds \| 3 baths \| 2,367 sq.ft.	$315,000	Airbnb cash on cash: 2.91% Traditional cash on cash: 6.78% Airbnb Rental Income: $2445 Traditional Rental Income: $2995 Airbnb ROI: 2.91% Traditional ROI: 6.78%
382 S Elm Avenue Kankakee, IL Welcome to your stunning new home in Kankakee! This fully remodeled and spacious 3-bedroom...	3 beds \| 2 baths \| 1,108 sq.ft.	$225,000	Airbnb cash on cash: 3.2% Traditional cash on cash: 5.97% Airbnb Rental Income: $1715 Traditional Rental Income: $1829 Airbnb ROI: 3.2% Traditional ROI: 5.97%
245 N 6th Avenue Kankakee, IL Completely recently renovated home, all within the last few years! Tastefully updated incl...	2 beds \| 2 baths \| 720 sq.ft.	$120,000	Airbnb cash on cash: 3.21% Traditional cash on cash: 9% Airbnb Rental Income: $1311 Traditional Rental Income: $1573 Airbnb ROI: 3.21% Traditional ROI: 9%
428 W Williams Street Kankakee, IL So much space in this move in condition 2 Story with 4-5 Bedrooms! On the main level ther...	5 beds \| 2 baths \| 1,916 sq.ft.	$215,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.84% Airbnb Rental Income: $null Traditional Rental Income: $2514 Airbnb ROI: N/A Traditional ROI: 8.84%
1405 Navajo Court Kankakee, IL This stunning 2024 new build located in the prestigious Limestone area within the highly s...	3 beds \| 3 baths \| 1,777 sq.ft.	$350,000	Airbnb cash on cash: -0.77% Traditional cash on cash: 3.52% Airbnb Rental Income: $1715 Traditional Rental Income: $2648 Airbnb ROI: -0.77% Traditional ROI: 3.52%
1575 S 5th Avenue Kankakee, IL Welcome to this beautifully maintained 3 bedroom, 1 bathroom ranch located in West Kankake...	3 beds \| 1 baths \| 1,000 sq.ft.	$170,000	Airbnb cash on cash: 3.49% Traditional cash on cash: 5.26% Airbnb Rental Income: $1715 Traditional Rental Income: $1528 Airbnb ROI: 3.49% Traditional ROI: 5.26%
370 S Albert Boulevard Kankakee, IL Completely Renovated & Move-In Ready! This stunning 5-bedroom, 2 full bath home has been f...	3 beds \| 2 baths \| 1,260 sq.ft.	$220,000	Airbnb cash on cash: 3.62% Traditional cash on cash: 6.94% Airbnb Rental Income: $1715 Traditional Rental Income: $1931 Airbnb ROI: 3.62% Traditional ROI: 6.94%
824 S Mckinley Avenue Kankakee, IL Welcome to your dream home in West Kankakee! This spacious 4-bedroom, 2.5-bath residence o...	4 beds \| 3 baths \| 1,664 sq.ft.	$205,000	Airbnb cash on cash: 4.64% Traditional cash on cash: 7.53% Airbnb Rental Income: $2445 Traditional Rental Income: $2409 Airbnb ROI: 4.64% Traditional ROI: 7.53%
643 S Elm Avenue Kankakee, IL Stunning Fully Renovated Riverview Home on a Spacious Lot This home offers four bedrooms...	4 beds \| 2 baths \| 1,344 sq.ft.	$194,900	Airbnb cash on cash: 6.39% Traditional cash on cash: 7.34% Airbnb Rental Income: $2445 Traditional Rental Income: $2025 Airbnb ROI: 6.39% Traditional ROI: 7.34%
1855 Notre Dame Kankakee, IL Step inside this beautifully remodeled Ranch home and enjoy all of the fresh modern update...	3 beds \| 1 baths \| 1,120 sq.ft.	$184,900	Airbnb cash on cash: 3.98% Traditional cash on cash: 6.93% Airbnb Rental Income: $1715 Traditional Rental Income: $1759 Airbnb ROI: 3.98% Traditional ROI: 6.93%
187 E Water Street Kankakee, IL Discover the ultimate riverfront retreat in Kankakee! This magnificent custom-built three-...	3 beds \| 2 baths \| 1,550 sq.ft.	$340,000	Airbnb cash on cash: -1.48% Traditional cash on cash: 2.52% Airbnb Rental Income: $1715 Traditional Rental Income: $2516 Airbnb ROI: -1.48% Traditional ROI: 2.52%
1442 Budd Boulevard Kankakee, IL Gracefield Brick Ranch full of charm and warmth. This home offers a lovely formal Living ...	3 beds \| 3 baths \| 1,767 sq.ft.	$249,900	Airbnb cash on cash: 1.43% Traditional cash on cash: 6.99% Airbnb Rental Income: $1715 Traditional Rental Income: $2553 Airbnb ROI: 1.43% Traditional ROI: 6.99%
456 S Wall Street Kankakee, IL Riverfront Living Awaits! No flood insurance needed. A wonderful opportunity to own a bric...	3 beds \| 2 baths \| 1,527 sq.ft.	$229,900	Airbnb cash on cash: 0.91% Traditional cash on cash: 6.15% Airbnb Rental Income: $1715 Traditional Rental Income: $2380 Airbnb ROI: 0.91% Traditional ROI: 6.15%
55 Cherry Drive Kankakee, IL **** WELCOME HOME!!!!! * MOVE RIGHT IN to your BRICK RANCH HOME!!!! ******** BEAUT...	3 beds \| 2 baths \| 1,368 sq.ft.	$199,888	Airbnb cash on cash: 4.15% Traditional cash on cash: 8.56% Airbnb Rental Income: $1715 Traditional Rental Income: $2077 Airbnb ROI: 4.15% Traditional ROI: 8.56%
971 N Cleveland Street Kankakee, IL Welcome to this adorable 3-bedroom, 2-bath home in Kankakee! Bursting with old-world charm...	3 beds \| 2 baths \| 1,540 sq.ft.	$140,000	Airbnb cash on cash: 4.43% Traditional cash on cash: 11.67% Airbnb Rental Income: $1715 Traditional Rental Income: $2213 Airbnb ROI: 4.43% Traditional ROI: 11.67%
2089 Sunset View Lane Kankakee, IL From the moment you pull up, this all-brick custom ranch feels like home. The curb appeal ...	4 beds \| 5 baths \| 4,191 sq.ft.	$595,000	Airbnb cash on cash: 0.5% Traditional cash on cash: 6.25% Airbnb Rental Income: $2445 Traditional Rental Income: $5038 Airbnb ROI: 0.5% Traditional ROI: 6.25%

Real Estate investment in Kankakee, IL

There are 45 properties for sale in the city of Kankakee . The median list price in Kankakee is $185,000 and the average price per square foot is $105. In October 2025, the average monthly cash on cash return in Kankakee is 8.00%. The average monthly rental income in Kankakee is $2,077.

Kankakee, IL Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 45 investment properties available for sale in Kankakee.

In 2025, the best neighborhood to buy investment property is Kankakee.

The ROI for Long-Term is higher than the Short-Term in Kankakee with average rental income of $2,077.

Your search for investment property begins and ends here

Investment Property for Sale in Kankakee, IL

957 S 7th Avenue

Kankakee, IL

3 beds | 2 baths | 1,248 sq.ft.

$180,000

Airbnb cash on cash: 3.77%

Traditional cash on cash: 8%

Airbnb Rental Income: $1715

Traditional Rental Income: $1965

Airbnb ROI: 3.77%

Traditional ROI: 8%

1055 S Myrtle Avenue

Kankakee, IL

4 beds | 2 baths | 2,000 sq.ft.

$249,000

Airbnb cash on cash: 4.19%

Traditional cash on cash: 7.02%

Airbnb Rental Income: $2445

Traditional Rental Income: $2514

Airbnb ROI: 4.19%

Traditional ROI: 7.02%

2925 Waldron Rd

Kankakee, IL

4 beds | 2 baths | 2,063 sq.ft.

$241,900

Airbnb cash on cash: 4.46%

Traditional cash on cash: 5.5%

Airbnb Rental Income: $2445

Traditional Rental Income: $2085

Airbnb ROI: 4.46%

Traditional ROI: 5.5%

231 S Chicago Avenue

Kankakee, IL

4 beds | 2 baths | 2,126 sq.ft.

$220,000

Airbnb cash on cash: 5.94%

Traditional cash on cash: 7.98%

Airbnb Rental Income: $2445

Traditional Rental Income: $2274

Airbnb ROI: 5.94%

Traditional ROI: 7.98%

27 Marquette Lane

Kankakee, IL

4 beds | 5 baths | 3,924 sq.ft.

$445,000

Airbnb cash on cash: 1.12%

Traditional cash on cash: 8.52%

Airbnb Rental Income: $2445

Traditional Rental Income: $4931

Airbnb ROI: 1.12%

Traditional ROI: 8.52%

1095-1097 E Merchant Street

Kankakee, IL

5 beds | N/A baths | N/A

$195,000

Airbnb cash on cash: N/A

Traditional cash on cash: 10.89%

Airbnb Rental Income: $null

Traditional Rental Income: $2522

Airbnb ROI: N/A

Traditional ROI: 10.89%

545 S May Avenue

Kankakee, IL

2 beds | 1 baths | 1,390 sq.ft.

$159,900

Airbnb cash on cash: 1.46%

Traditional cash on cash: 7.03%

Airbnb Rental Income: $1311

Traditional Rental Income: $1754

Airbnb ROI: 1.46%

Traditional ROI: 7.03%

353 S 5th Avenue S

Kankakee, IL

4 beds | 2 baths | 2,000 sq.ft.

$185,000

Airbnb cash on cash: 7.61%

Traditional cash on cash: 11.45%

Airbnb Rental Income: $2445

Traditional Rental Income: $2524

Airbnb ROI: 7.61%