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
1 Shannon Rd Kankakee, IL Located just outside Aroma Park, Illinois is this Amazing Waterfront home on boatable area...	3 beds \| 3 baths \| 3,200 sq.ft.	$680,000	Airbnb cash on cash: -0.76% Traditional cash on cash: 1.57% Airbnb Rental Income: $1827 Traditional Rental Income: $2812 Airbnb ROI: -0.76% Traditional ROI: 1.57%
1133 Justine Dr Kankakee, IL Beautiful 3 bedroom, 2 bath ranch home with 2 car attached garage in Riverview area near K...	3 beds \| 2 baths \| 1,285 sq.ft.	$179,800	Airbnb cash on cash: 3.92% Traditional cash on cash: 7.18% Airbnb Rental Income: $1827 Traditional Rental Income: $1892 Airbnb ROI: 3.92% Traditional ROI: 7.18%
1355 S 7th Ave Kankakee, IL Property is available for sale on it's own but has the option to be purchased with other p...	4 beds \| 1 baths \| 1,568 sq.ft.	$99,999	Airbnb cash on cash: N/A Traditional cash on cash: 9.18% Airbnb Rental Income: $null Traditional Rental Income: $1438 Airbnb ROI: N/A Traditional ROI: 9.18%
231 S Chicago Ave 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.	$190,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.36% Airbnb Rental Income: $null Traditional Rental Income: $2274 Airbnb ROI: N/A Traditional ROI: 9.36%
369 S Chicago Ave Kankakee, IL Updated 5-bedroom Colonial home for sale in Kankakee featuring two kitchens, two electric ...	5 beds \| 2 baths \| 1,648 sq.ft.	$235,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.96% Airbnb Rental Income: $null Traditional Rental Income: $2344 Airbnb ROI: N/A Traditional ROI: 7.96%
619 S Myrtle Ave Kankakee, IL Completely remodeled home, at an affordable price! LVP flooring throughout that main level...	3 beds \| 2 baths \| 1,720 sq.ft.	$192,000	Airbnb cash on cash: 4.43% Traditional cash on cash: 8.2% Airbnb Rental Income: $1827 Traditional Rental Income: $2022 Airbnb ROI: 4.43% Traditional ROI: 8.2%
1160 Westlawn Dr Kankakee, IL Great opportunity for you! Three bedroom, two bath home, located in the township with city...	3 beds \| 2 baths \| 1,440 sq.ft.	$214,900	Airbnb cash on cash: 4.5% Traditional cash on cash: 7.65% Airbnb Rental Income: $1827 Traditional Rental Income: $1974 Airbnb ROI: 4.5% Traditional ROI: 7.65%
3172 Sun Valley Dr Kankakee, IL This beautiful new construction home in the River Bend subdivision of Limestone, will be r...	4 beds \| 3 baths \| 1,950 sq.ft.	$535,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.77% Airbnb Rental Income: $null Traditional Rental Income: $2577 Airbnb ROI: N/A Traditional ROI: 3.77%
1095-1097 E Merchant St Kankakee, IL Fantastic Investment Opportunity in Kankakee! This remodeled 2-unit building is ideal for ...	5 beds \| 2 baths \| N/A	$185,000	Airbnb cash on cash: N/A Traditional cash on cash: 11.52% Airbnb Rental Income: $null Traditional Rental Income: $2522 Airbnb ROI: N/A Traditional ROI: 11.52%
2205 W Hickory St Kankakee, IL Step into this beautifully kept 3-bedroom gem located in the heart of West Kankakee! This ...	3 beds \| 1 baths \| 1,032 sq.ft.	$184,900	Airbnb cash on cash: 4.54% Traditional cash on cash: 5.83% Airbnb Rental Income: $1827 Traditional Rental Income: $1561 Airbnb ROI: 4.54% Traditional ROI: 5.83%
2886 S Southbrook Dr Kankakee, IL See the potential in the large raised ranch brick home in Kankakee. This home has 3 bedroo...	3 beds \| 2 baths \| 3,000 sq.ft.	$248,888	Airbnb cash on cash: 1.73% Traditional cash on cash: 5.18% Airbnb Rental Income: $1827 Traditional Rental Income: $2144 Airbnb ROI: 1.73% Traditional ROI: 5.18%
863 W Williams St Kankakee, IL Experience total peace of mind in this 3-bedroom, 1.1-bathroom home where every major upda...	3 beds \| 1 baths \| 1,436 sq.ft.	$169,900	Airbnb cash on cash: 4.55% Traditional cash on cash: 8.9% Airbnb Rental Income: $1827 Traditional Rental Income: $2037 Airbnb ROI: 4.55% Traditional ROI: 8.9%
206 Julie Dr Kankakee, IL Discover your dream home in this beautifully updated residence, perfectly situated on a sp...	5 beds \| 2 baths \| 2,400 sq.ft.	$379,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.97% Airbnb Rental Income: $null Traditional Rental Income: $3118 Airbnb ROI: N/A Traditional ROI: 5.97%
682 S Osborn Ave Kankakee, IL 2 bedroom (possibly 3) 1 bathroom home with a partially finished basement. House is need o...	2 beds \| 1 baths \| 890 sq.ft.	$119,900	Airbnb cash on cash: 2.1% Traditional cash on cash: 7.86% Airbnb Rental Income: $1172 Traditional Rental Income: $1454 Airbnb ROI: 2.1% Traditional ROI: 7.86%
194 N Entrance Ave Kankakee, IL 194 N Entrance Ave, Kankakee, IL 60901 \| Single Family Residential	5 beds \| 3 baths \| 2,600 sq.ft.	$359,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.43% Airbnb Rental Income: $null Traditional Rental Income: $2679 Airbnb ROI: N/A Traditional ROI: 4.43%
5690 W State Route 17 Kankakee, IL 5690 W State Route 17, Kankakee, IL 60901 \| Single Family Residential	4 beds \| 1 baths \| 2,012 sq.ft.	$179,900	Airbnb cash on cash: N/A Traditional cash on cash: 9.93% Airbnb Rental Income: $null Traditional Rental Income: $2345 Airbnb ROI: N/A Traditional ROI: 9.93%
838 N Rosewood Ave Kankakee, IL	2 beds \| 1 baths \| 780 sq.ft.	$160,000	Airbnb cash on cash: 1.33% Traditional cash on cash: 3.06% Airbnb Rental Income: $1172 Traditional Rental Income: $1052 Airbnb ROI: 1.33% Traditional ROI: 3.06%
312 Stone St Kankakee, IL 312 Stone St, Kankakee, IL 60901 \| Single Family Residential	3 beds \| 2 baths \| 1,020 sq.ft.	$169,900	Airbnb cash on cash: 4.44% Traditional cash on cash: 5.74% Airbnb Rental Income: $1827 Traditional Rental Income: $1544 Airbnb ROI: 4.44% Traditional ROI: 5.74%
2775 E Riverview Dr Kankakee, IL 2775 E Riverview Dr, Kankakee, IL 60901 \| Single Family Residential	3 beds \| 2 baths \| 2,030 sq.ft.	$269,900	Airbnb cash on cash: 1.63% Traditional cash on cash: 4.48% Airbnb Rental Income: $1827 Traditional Rental Income: $2057 Airbnb ROI: 1.63% Traditional ROI: 4.48%
6340 E River Court Kankakee, IL	4 beds \| 2 baths \| 2,016 sq.ft.	$299,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.43% Airbnb Rental Income: $null Traditional Rental Income: $2633 Airbnb ROI: N/A Traditional ROI: 6.43%
1824 Cobb Blvd Kankakee, IL 1824 Cobb Blvd, Kankakee, IL 60901 \| Single Family Residential	4 beds \| 2 baths \| 2,103 sq.ft.	$399,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.43% Airbnb Rental Income: $null Traditional Rental Income: $2221 Airbnb ROI: N/A Traditional ROI: 2.43%
1905 Indian Trl Kankakee, IL	N/A beds \| N/A baths \| N/A	$185,900	Airbnb cash on cash: -0.02% Traditional cash on cash: -0.16% Airbnb Rental Income: $1018 Traditional Rental Income: $636 Airbnb ROI: -0.02% Traditional ROI: -0.16%
1917 Indian Trl Kankakee, IL	N/A beds \| N/A baths \| N/A	$185,900	Airbnb cash on cash: -0.02% Traditional cash on cash: 0.33% Airbnb Rental Income: $1018 Traditional Rental Income: $722 Airbnb ROI: -0.02% Traditional ROI: 0.33%
286 S Barbara Dr Kankakee, IL Well-located 3-bedroom, 1-bath ranch in the Hillside Manor Subdivision, served by the desi...	3 beds \| 1 baths \| 1,014 sq.ft.	$219,900	Airbnb cash on cash: 4.42% Traditional cash on cash: 6.07% Airbnb Rental Income: $1827 Traditional Rental Income: $1676 Airbnb ROI: 4.42% Traditional ROI: 6.07%
1119 S Curtis Ave #A-1 Kankakee, IL 1119 S Curtis Ave #A-1, Kankakee, IL 60901 \| Condo/Coop	1 beds \| 1 baths \| 900 sq.ft.	$45,000	Airbnb cash on cash: 3.82% Traditional cash on cash: 11.54% Airbnb Rental Income: $1070 Traditional Rental Income: $1060 Airbnb ROI: 3.82% Traditional ROI: 11.54%
2008 Indian Trl Kankakee, IL 2008 Indian Trl, Kankakee, IL 60901 \| Other	N/A beds \| N/A baths \| N/A	$49,900	Airbnb cash on cash: 8.03% Traditional cash on cash: 7.56% Airbnb Rental Income: $1018 Traditional Rental Income: $636 Airbnb ROI: 8.03% Traditional ROI: 7.56%
1268 Deer Path Kankakee, IL 1268 Deer Path, Kankakee, IL 60901 \| Other	N/A beds \| N/A baths \| N/A	$49,900	Airbnb cash on cash: 8.03% Traditional cash on cash: 9.26% Airbnb Rental Income: $1018 Traditional Rental Income: $722 Airbnb ROI: 8.03% Traditional ROI: 9.26%
475 Riverstone Pkwy Kankakee, IL 475 Riverstone Pkwy, Kankakee, IL 60901 \| Other	N/A beds \| N/A baths \| N/A	$300,000	Airbnb cash on cash: -1.24% Traditional cash on cash: -0.95% Airbnb Rental Income: $1018 Traditional Rental Income: $739 Airbnb ROI: -1.24% Traditional ROI: -0.95%
504 S Schuyler Ave Kankakee, IL 504 S Schuyler Ave, Kankakee, IL 60901 \| Other	N/A beds \| N/A baths \| N/A	$179,000	Airbnb cash on cash: 0.1% Traditional cash on cash: -0.04% Airbnb Rental Income: $1018 Traditional Rental Income: $636 Airbnb ROI: 0.1% Traditional ROI: -0.04%
12.32 acres Eastgate Court St Kankakee, IL 12.32 acres Eastgate Court St, Kankakee, IL 60901 \| Other	N/A beds \| N/A baths \| N/A	$299,900	Airbnb cash on cash: -1.23% Traditional cash on cash: -0.94% Airbnb Rental Income: $1018 Traditional Rental Income: $743 Airbnb ROI: -1.23% Traditional ROI: -0.94%
590 S Washington Ave Kankakee, IL 590 S Washington Ave, Kankakee, IL 60901 \| Other	N/A beds \| N/A baths \| N/A	$125,000	Airbnb cash on cash: 1.5% Traditional cash on cash: 1.08% Airbnb Rental Income: $1018 Traditional Rental Income: $608 Airbnb ROI: 1.5% Traditional ROI: 1.08%
505 S Chicago Ave Kankakee, IL 505 S Chicago Ave, Kankakee, IL 60901 \| Multi Family	6 beds \| 2 baths \| N/A	$191,000	Airbnb cash on cash: -0.1% Traditional cash on cash: 6.84% Airbnb Rental Income: $1018 Traditional Rental Income: $1919 Airbnb ROI: -0.1% Traditional ROI: 6.84%
5101 W 1000 Rd N Kankakee, IL 5101 W 1000 Rd N, Kankakee, IL 60901 \| Single Family Residential	4 beds \| 2 baths \| 1,700 sq.ft.	$259,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.3% Airbnb Rental Income: $null Traditional Rental Income: $1941 Airbnb ROI: N/A Traditional ROI: 4.3%
1496 W Lotus Ln Kankakee, IL Well-maintained and thoughtfully updated, this 4 Bedroom, 2 Bath Tri-Level offers the peac...	4 beds \| 2 baths \| 2,149 sq.ft.	$315,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.27% Airbnb Rental Income: $null Traditional Rental Income: $2475 Airbnb ROI: N/A Traditional ROI: 5.27%
702 S Lincoln Ave Kankakee, IL 702 S Lincoln Ave, Kankakee, IL 60901 \| Single Family Residential	4 beds \| 2 baths \| 1,600 sq.ft.	$244,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.93% Airbnb Rental Income: $null Traditional Rental Income: $1982 Airbnb ROI: N/A Traditional ROI: 4.93%

Real Estate investment in Kankakee, IL

There are 102 properties for sale in the city of Kankakee . The median list price in Kankakee is $151,409 and the average price per square foot is $94. In August 2026, the average monthly cash on cash return in Kankakee is 8.00%. The average monthly rental income in Kankakee is $1,492.

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

There are 102 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 $1,492.

Your search for investment property begins and ends here

Investment Property for Sale in Kankakee, IL

1 Shannon Rd

Kankakee, IL

3 beds | 3 baths | 3,200 sq.ft.

$680,000

Airbnb cash on cash: -0.76%

Traditional cash on cash: 1.57%

Airbnb Rental Income: $1827

Traditional Rental Income: $2812

Airbnb ROI: -0.76%

Traditional ROI: 1.57%

1133 Justine Dr

Kankakee, IL

3 beds | 2 baths | 1,285 sq.ft.

$179,800

Airbnb cash on cash: 3.92%

Traditional cash on cash: 7.18%

Airbnb Rental Income: $1827

Traditional Rental Income: $1892

Airbnb ROI: 3.92%

Traditional ROI: 7.18%

1355 S 7th Ave

Kankakee, IL

4 beds | 1 baths | 1,568 sq.ft.

$99,999

Airbnb cash on cash: N/A

Traditional cash on cash: 9.18%

Airbnb Rental Income: $null

Traditional Rental Income: $1438

Airbnb ROI: N/A

Traditional ROI: 9.18%

231 S Chicago Ave

Kankakee, IL

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

$190,000

Airbnb cash on cash: N/A

Traditional cash on cash: 9.36%

Airbnb Rental Income: $null

Traditional Rental Income: $2274

Airbnb ROI: N/A

Traditional ROI: 9.36%

369 S Chicago Ave

Kankakee, IL

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

$235,000

Airbnb cash on cash: N/A

Traditional cash on cash: 7.96%

Airbnb Rental Income: $null

Traditional Rental Income: $2344

Airbnb ROI: N/A

Traditional ROI: 7.96%

619 S Myrtle Ave

Kankakee, IL

3 beds | 2 baths | 1,720 sq.ft.

$192,000

Airbnb cash on cash: 4.43%

Traditional cash on cash: 8.2%

Airbnb Rental Income: $1827

Traditional Rental Income: $2022

Airbnb ROI: 4.43%

Traditional ROI: 8.2%

1160 Westlawn Dr

Kankakee, IL

3 beds | 2 baths | 1,440 sq.ft.

$214,900

Airbnb cash on cash: 4.5%

Traditional cash on cash: 7.65%

Airbnb Rental Income: $1827

Traditional Rental Income: $1974

Airbnb ROI: 4.5%

Traditional ROI: 7.65%

3172 Sun Valley Dr

Kankakee, IL

4 beds | 3 baths | 1,950 sq.ft.

$535,000

Airbnb cash on cash: N/A

Traditional cash on cash: 3.77%

Airbnb Rental Income: $null

Traditional Rental Income: $2577

Airbnb ROI: N/A