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
997 S Evergreen Ave Kankakee, IL You will love the beauty of original wood work in this 4 square home. Wonderful enclosed ...	3 beds \| 1 baths \| 1,712 sq.ft.	$215,000	Airbnb cash on cash: 2.99% Traditional cash on cash: 3.16% Airbnb Rental Income: $1699 Traditional Rental Income: $1261 Airbnb ROI: 2.99% Traditional ROI: 3.16%
1581 S 4th Ave Kankakee, IL Ready for new owners!!! This remodeled home features 3 bedroom and 1.5 baths. Updates inc...	3 beds \| 1 baths \| 1,250 sq.ft.	$140,000	Airbnb cash on cash: 5.02% Traditional cash on cash: 5.88% Airbnb Rental Income: $1699 Traditional Rental Income: $1342 Airbnb ROI: 5.02% Traditional ROI: 5.88%
13 Charlton Dr Kankakee, IL Great opportunity in East Shore Acres Subdivision. This large two story home features 4 be...	5 beds \| 3 baths \| 2,400 sq.ft.	$280,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.92% Airbnb Rental Income: $null Traditional Rental Income: $2113 Airbnb ROI: N/A Traditional ROI: 4.92%
1257 E Sheridan Street Kankakee, IL Welcome to this beautiful home in Kankakee, eagerly awaiting its new owners! This exquisit...	1 beds \| 2 baths \| 1,300 sq.ft.	$225,000	Airbnb cash on cash: -0.93% Traditional cash on cash: 6.16% Airbnb Rental Income: $616 Traditional Rental Income: $1834 Airbnb ROI: -0.93% Traditional ROI: 6.16%
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.	$175,000	Airbnb cash on cash: 3.82% Traditional cash on cash: 8.25% Airbnb Rental Income: $1699 Traditional Rental Income: $1965 Airbnb ROI: 3.82% Traditional ROI: 8.25%
595 W Bridge St Kankakee, IL WELCOME HOME!!! Fall in love with this cute 2-bedroom, 1-bath home. Walk into the cozy liv...	2 beds \| 1 baths \| 700 sq.ft.	$137,000	Airbnb cash on cash: 3.45% Traditional cash on cash: 2.94% Airbnb Rental Income: $1334 Traditional Rental Income: $856 Airbnb ROI: 3.45% Traditional ROI: 2.94%
895 S Greenwood Ave Kankakee, IL Gorgeous character in the heart of the Historic District. This 2 story home is located 1 b...	3 beds \| 2 baths \| 2,602 sq.ft.	$249,900	Airbnb cash on cash: 1.08% Traditional cash on cash: 6.7% Airbnb Rental Income: $1699 Traditional Rental Income: $2553 Airbnb ROI: 1.08% Traditional ROI: 6.7%
369 S Chicago Avenue Kankakee, IL Step into timeless charm and modern versatility at 369 Chicago Ave in Kankakee! This spaci...	5 beds \| 2 baths \| 1,648 sq.ft.	$249,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.47% Airbnb Rental Income: $null Traditional Rental Income: $2344 Airbnb ROI: N/A Traditional ROI: 7.47%
378 S Evergreen Avenue Kankakee, IL Large and spacious recently rehabbed home ...featuring: New : windows, doors, roof, plumbi...	3 beds \| 3 baths \| 1,440 sq.ft.	$219,900	Airbnb cash on cash: 3% Traditional cash on cash: 6.22% Airbnb Rental Income: $1699 Traditional Rental Income: $1897 Airbnb ROI: 3% Traditional ROI: 6.22%
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: 0.83% Traditional cash on cash: 8.52% Airbnb Rental Income: $2297 Traditional Rental Income: $4931 Airbnb ROI: 0.83% Traditional ROI: 8.52%
2886 S Southbrook Drive Kankakee, IL See the potential in the large raised ranch brick home in Kankakee. This home has 3 bedroo...	3 beds \| 2 baths \| 1,500 sq.ft.	$164,754	Airbnb cash on cash: 2.41% Traditional cash on cash: 8.24% Airbnb Rental Income: $1699 Traditional Rental Income: $2144 Airbnb ROI: 2.41% Traditional ROI: 8.24%
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.	$199,900	Airbnb cash on cash: 4.13% Traditional cash on cash: 7.74% Airbnb Rental Income: $2297 Traditional Rental Income: $2409 Airbnb ROI: 4.13% Traditional ROI: 7.74%
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.	$320,000	Airbnb cash on cash: -1.55% Traditional cash on cash: 2.73% Airbnb Rental Income: $1699 Traditional Rental Income: $2516 Airbnb ROI: -1.55% Traditional ROI: 2.73%
2664 Waldron Avenue Kankakee, IL This stunning 7,700 sq ft Hemenover custom-built estate sits on 4.5 acres along the most d...	5 beds \| 7 baths \| 7,577 sq.ft.	$1,350,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.67% Airbnb Rental Income: $null Traditional Rental Income: $7264 Airbnb ROI: N/A Traditional ROI: 2.67%
863 W Williams Street Kankakee, IL 863 W Williams St, Kankakee, IL 60901, offers immediate peace of mind with virtually every...	3 beds \| 2 baths \| 1,436 sq.ft.	$169,900	Airbnb cash on cash: 3.89% Traditional cash on cash: 8.9% Airbnb Rental Income: $1699 Traditional Rental Income: $2037 Airbnb ROI: 3.89% Traditional ROI: 8.9%
59 N 2750w Road Kankakee, IL Welcome to this charming ranch-style home nestled in the scenic countryside of Kankakee Co...	3 beds \| 1 baths \| 1,200 sq.ft.	$174,900	Airbnb cash on cash: 3.76% Traditional cash on cash: 6.89% Airbnb Rental Income: $1699 Traditional Rental Income: $1748 Airbnb ROI: 3.76% Traditional ROI: 6.89%
878 S Wildwood Avenue Kankakee, IL Step back in time to an era when craftsmanship truly mattered. Located in the Historical D...	4 beds \| 3 baths \| 2,380 sq.ft.	$229,000	Airbnb cash on cash: 4.1% Traditional cash on cash: 10.12% Airbnb Rental Income: $2297 Traditional Rental Income: $3030 Airbnb ROI: 4.1% Traditional ROI: 10.12%
206 Julie Drive Kankakee, IL Discover your dream home in this beautifully updated residence, perfectly situated on a sp...	5 beds \| 3 baths \| 2,400 sq.ft.	$385,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.87% Airbnb Rental Income: $null Traditional Rental Income: $3118 Airbnb ROI: N/A Traditional ROI: 5.87%
682 S Osborn Avenue Kankakee, IL 2 bedroom (possibly 3) 1 bathroom home on with a huge fenced in yard and a partially finis...	2 beds \| 1 baths \| 890 sq.ft.	$119,999	Airbnb cash on cash: 3.44% Traditional cash on cash: 8.03% Airbnb Rental Income: $1334 Traditional Rental Income: $1454 Airbnb ROI: 3.44% Traditional ROI: 8.03%
1195 S Myrtle Avenue Kankakee, IL Charming Tudor Style brick home located across street from the Kankakee River & close to p...	4 beds \| 2 baths \| 1,696 sq.ft.	$193,900	Airbnb cash on cash: 4.17% Traditional cash on cash: 7.06% Airbnb Rental Income: $2297 Traditional Rental Income: $2256 Airbnb ROI: 4.17% Traditional ROI: 7.06%
681 S Tanner Avenue Kankakee, IL Location Location!! This is a wonderful 3 bedroom, 2 bathroom home, just needs a little TL...	3 beds \| 2 baths \| 1,338 sq.ft.	$158,000	Airbnb cash on cash: 5.44% Traditional cash on cash: 10.81% Airbnb Rental Income: $1699 Traditional Rental Income: $2037 Airbnb ROI: 5.44% Traditional ROI: 10.81%
316 S 4000 W Road Kankakee, IL Lots of good things in the 4 bed 1 bath home in Limestone. Open floorplan with the living ...	4 beds \| 1 baths \| 1,000 sq.ft.	$179,900	Airbnb cash on cash: 7.1% Traditional cash on cash: 8.27% Airbnb Rental Income: $2297 Traditional Rental Income: $1926 Airbnb ROI: 7.1% Traditional ROI: 8.27%
1809 E Eagle Street Kankakee, IL This fully remodeled 3-bedroom, 1-bath home is truly move-in ready and designed to fit a v...	3 beds \| 1 baths \| 972 sq.ft.	$165,000	Airbnb cash on cash: 4.32% Traditional cash on cash: 4.88% Airbnb Rental Income: $1699 Traditional Rental Income: $1316 Airbnb ROI: 4.32% Traditional ROI: 4.88%
635 S Alma Avenue Kankakee, IL Welcome to this beautiful 1 story ranch w/ finished basement that was just renovated! this...	2 beds \| 2 baths \| 1,710 sq.ft.	$224,000	Airbnb cash on cash: 0.22% Traditional cash on cash: 6.28% Airbnb Rental Income: $1334 Traditional Rental Income: $2207 Airbnb ROI: 0.22% Traditional ROI: 6.28%
1320 S 3rd Ave Kankakee, IL 1320 S 3rd Ave, Kankakee, IL 60901 \| Single Family Residential	3 beds \| 1 baths \| 1,188 sq.ft.	$199,000	Airbnb cash on cash: 2.78% Traditional cash on cash: 3.25% Airbnb Rental Income: $1699 Traditional Rental Income: $1316 Airbnb ROI: 2.78% Traditional ROI: 3.25%
1096 S Wildwood Ave Kankakee, IL 1096 S Wildwood Ave, Kankakee, IL 60901 \| Single Family Residential	3 beds \| 2 baths \| 1,920 sq.ft.	$255,900	Airbnb cash on cash: 1.46% Traditional cash on cash: 4.05% Airbnb Rental Income: $1699 Traditional Rental Income: $1853 Airbnb ROI: 1.46% Traditional ROI: 4.05%
309 N Greenwood Ave Kankakee, IL	5 beds \| 1 baths \| 1,757 sq.ft.	$144,500	Airbnb cash on cash: N/A Traditional cash on cash: 5.62% Airbnb Rental Income: $null Traditional Rental Income: $1316 Airbnb ROI: N/A Traditional ROI: 5.62%
323 N Illinois Ave Kankakee, IL	3 beds \| 1 baths \| 1,008 sq.ft.	$149,500	Airbnb cash on cash: 4.71% Traditional cash on cash: 5.33% Airbnb Rental Income: $1699 Traditional Rental Income: $1316 Airbnb ROI: 4.71% Traditional ROI: 5.33%
312 Stone St Kankakee, IL	3 beds \| 2 baths \| 1,020 sq.ft.	$174,900	Airbnb cash on cash: 3.58% Traditional cash on cash: 4.12% Airbnb Rental Income: $1699 Traditional Rental Income: $1316 Airbnb ROI: 3.58% Traditional ROI: 4.12%
827 S Mckinley Ave Kankakee, IL 827 S Mckinley Ave, Kankakee, IL 60901 \| Single Family Residential	4 beds \| 2 baths \| 2,323 sq.ft.	$250,000	Airbnb cash on cash: 3.68% Traditional cash on cash: 5.93% Airbnb Rental Income: $2297 Traditional Rental Income: $2256 Airbnb ROI: 3.68% Traditional ROI: 5.93%
540 S Osborn Ave Kankakee, IL 540 S Osborn Ave, Kankakee, IL 60901 \| Single Family Residential	2 beds \| 1 baths \| 826 sq.ft.	$75,900	Airbnb cash on cash: 7.9% Traditional cash on cash: 10.21% Airbnb Rental Income: $1334 Traditional Rental Income: $1096 Airbnb ROI: 7.9% Traditional ROI: 10.21%

Real Estate investment in Kankakee, IL

There are 80 properties for sale in the city of Kankakee . The median list price in Kankakee is $129,925 and the average price per square foot is $80. In January 2026, the average monthly cash on cash return in Kankakee is 9.00%. The average monthly rental income in Kankakee is $1,300.

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

There are 80 investment properties available for sale in Kankakee.

In 2026, 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 $1,300.

Your search for investment property begins and ends here

Investment Property for Sale in Kankakee, IL

997 S Evergreen Ave

Kankakee, IL

3 beds | 1 baths | 1,712 sq.ft.

$215,000

Airbnb cash on cash: 2.99%

Traditional cash on cash: 3.16%

Airbnb Rental Income: $1699

Traditional Rental Income: $1261

Airbnb ROI: 2.99%

Traditional ROI: 3.16%

1581 S 4th Ave

Kankakee, IL

3 beds | 1 baths | 1,250 sq.ft.

$140,000

Airbnb cash on cash: 5.02%

Traditional cash on cash: 5.88%

Airbnb Rental Income: $1699

Traditional Rental Income: $1342

Airbnb ROI: 5.02%

Traditional ROI: 5.88%

13 Charlton Dr

Kankakee, IL

5 beds | 3 baths | 2,400 sq.ft.

$280,000

Airbnb cash on cash: N/A

Traditional cash on cash: 4.92%

Airbnb Rental Income: $null

Traditional Rental Income: $2113

Airbnb ROI: N/A

Traditional ROI: 4.92%

1257 E Sheridan Street

Kankakee, IL

1 beds | 2 baths | 1,300 sq.ft.

$225,000

Airbnb cash on cash: -0.93%

Traditional cash on cash: 6.16%

Airbnb Rental Income: $616

Traditional Rental Income: $1834

Airbnb ROI: -0.93%

Traditional ROI: 6.16%

957 S 7th Avenue

Kankakee, IL

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

$175,000

Airbnb cash on cash: 3.82%

Traditional cash on cash: 8.25%

Airbnb Rental Income: $1699

Traditional Rental Income: $1965

Airbnb ROI: 3.82%

Traditional ROI: 8.25%

595 W Bridge St

Kankakee, IL

2 beds | 1 baths | 700 sq.ft.

$137,000

Airbnb cash on cash: 3.45%

Traditional cash on cash: 2.94%

Airbnb Rental Income: $1334

Traditional Rental Income: $856

Airbnb ROI: 3.45%

Traditional ROI: 2.94%

895 S Greenwood Ave

Kankakee, IL

3 beds | 2 baths | 2,602 sq.ft.

$249,900

Airbnb cash on cash: 1.08%

Traditional cash on cash: 6.7%

Airbnb Rental Income: $1699

Traditional Rental Income: $2553

Airbnb ROI: 1.08%

Traditional ROI: 6.7%

369 S Chicago Avenue

Kankakee, IL

5 beds | 2 baths | 1,648 sq.ft.

$249,000

Airbnb cash on cash: N/A

Traditional cash on cash: 7.47%

Airbnb Rental Income: $null

Traditional Rental Income: $2344

Airbnb ROI: N/A