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
545 S Fraser Avenue Kankakee, IL Adorable and Affordable Ranch in West Kankakee! This 2 bedroom 2 bath home has additional ...	2 beds \| 2 baths \| 1,200 sq.ft.	$159,000	Airbnb cash on cash: 1.26% Traditional cash on cash: 7.53% Airbnb Rental Income: $1334 Traditional Rental Income: $1874 Airbnb ROI: 1.26% Traditional ROI: 7.53%
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%
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: 3.92% Traditional cash on cash: 5.5% Airbnb Rental Income: $2297 Traditional Rental Income: $2085 Airbnb ROI: 3.92% 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.	$210,000	Airbnb cash on cash: 5.64% Traditional cash on cash: 8.4% Airbnb Rental Income: $2297 Traditional Rental Income: $2274 Airbnb ROI: 5.64% Traditional ROI: 8.4%
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, plumb...	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%
1470 S 5th Avenue Kankakee, IL Newly rehabbed home with some new windows, brand new roof, new Luxury Vinyl Plank Hardwood...	3 beds \| 1 baths \| 1,408 sq.ft.	$199,900	Airbnb cash on cash: 2.7% Traditional cash on cash: 5.71% Airbnb Rental Income: $1699 Traditional Rental Income: $1798 Airbnb ROI: 2.7% Traditional ROI: 5.71%
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%
1240 W Merchant Street Kankakee, IL Welcome to this beautifully updated 2 bedroom, 1 bath home featuring a full basement and d...	2 beds \| 1 baths \| 1,000 sq.ft.	$134,900	Airbnb cash on cash: 2.79% Traditional cash on cash: 9.74% Airbnb Rental Income: $1334 Traditional Rental Income: $1823 Airbnb ROI: 2.79% Traditional ROI: 9.74%
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.	$180,000	Airbnb cash on cash: 7.13% Traditional cash on cash: 11.79% Airbnb Rental Income: $2297 Traditional Rental Income: $2524 Airbnb ROI: 7.13% Traditional ROI: 11.79%
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: 2.41% Traditional cash on cash: 8.24% Airbnb Rental Income: $1699 Traditional Rental Income: $2144 Airbnb ROI: 2.41% Traditional ROI: 8.24%
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: 3.14% Traditional cash on cash: 5.97% Airbnb Rental Income: $1699 Traditional Rental Income: $1829 Airbnb ROI: 3.14% Traditional ROI: 5.97%
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.	$210,000	Airbnb cash on cash: 3.77% Traditional cash on cash: 7.3% Airbnb Rental Income: $1699 Traditional Rental Income: $1931 Airbnb ROI: 3.77% Traditional ROI: 7.3%
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: 4.01% Traditional cash on cash: 7.53% Airbnb Rental Income: $2297 Traditional Rental Income: $2409 Airbnb ROI: 4.01% Traditional ROI: 7.53%
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%
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.	$239,900	Airbnb cash on cash: 1.47% Traditional cash on cash: 7.32% Airbnb Rental Income: $1699 Traditional Rental Income: $2553 Airbnb ROI: 1.47% Traditional ROI: 7.32%
54 Cherry Drive Kankakee, IL Welcome to 54 Cherry Drive! This all brick ranch home features 3 bedrooms, 1 and a half ba...	3 beds \| 2 baths \| 1,508 sq.ft.	$190,000	Airbnb cash on cash: 3.59% Traditional cash on cash: 9.07% Airbnb Rental Income: $1699 Traditional Rental Income: $2218 Airbnb ROI: 3.59% Traditional ROI: 9.07%
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 when craftsmanship truly mattered! This beautifully preserved American F...	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%
1494 Timber Ridge Court Kankakee, IL Investors Welcome - Make an offer! Tucked on a quiet cul-de-sac, this 3-bed, 2-bath townho...	3 beds \| 2 baths \| 1,715 sq.ft.	$180,000	Airbnb cash on cash: 4.26% Traditional cash on cash: 6.92% Airbnb Rental Income: $2297 Traditional Rental Income: $2180 Airbnb ROI: 4.26% Traditional ROI: 6.92%
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.	$391,700	Airbnb cash on cash: N/A Traditional cash on cash: 5.76% Airbnb Rental Income: $null Traditional Rental Income: $3118 Airbnb ROI: N/A Traditional ROI: 5.76%
509 W Williams Street Kankakee, IL Welcome to this all brick bungalow! This home beautifully combines vintage charm with mo...	2 beds \| 2 baths \| 1,217 sq.ft.	$155,000	Airbnb cash on cash: 2.69% Traditional cash on cash: 9.97% Airbnb Rental Income: $1334 Traditional Rental Income: $2001 Airbnb ROI: 2.69% Traditional ROI: 9.97%
625 S Gordon Avenue Kankakee, IL Charming and Affordable! This adorable 2-bedroom (with potential for a 3rd) home offers co...	2 beds \| 1 baths \| 672 sq.ft.	$95,000	Airbnb cash on cash: 7.03% Traditional cash on cash: 11.67% Airbnb Rental Income: $1334 Traditional Rental Income: $1353 Airbnb ROI: 7.03% Traditional ROI: 11.67%
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.	$129,999	Airbnb cash on cash: 3.11% Traditional cash on cash: 7.36% Airbnb Rental Income: $1334 Traditional Rental Income: $1454 Airbnb ROI: 3.11% Traditional ROI: 7.36%
2940 River Bend Drive Kankakee, IL Stunning Custom-Built Home for Sale in Limestone \| Herscher Don't miss this extraor...	3 beds \| 3 baths \| 1,850 sq.ft.	$619,000	Airbnb cash on cash: -0.86% Traditional cash on cash: 1.52% Airbnb Rental Income: $1699 Traditional Rental Income: $2602 Airbnb ROI: -0.86% Traditional ROI: 1.52%
1496 Timber Ridge Court Kankakee, IL Well kept townhouse in the desirable Timber Ridge subdivision in West Kankakee. 3 bedroom ...	3 beds \| 3 baths \| 1,715 sq.ft.	$204,900	Airbnb cash on cash: 1.31% Traditional cash on cash: 6.81% Airbnb Rental Income: $1699 Traditional Rental Income: $2296 Airbnb ROI: 1.31% Traditional ROI: 6.81%

Real Estate investment in Kankakee, IL

There are 34 properties for sale in the city of Kankakee . The median list price in Kankakee is $179,950 and the average price per square foot is $107. In December 2025, the average monthly cash on cash return in Kankakee is 8.00%. The average monthly rental income in Kankakee is $2,107.

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

There are 34 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 $2,107.

Your search for investment property begins and ends here

Investment Property for Sale in Kankakee, IL

545 S Fraser Avenue

Kankakee, IL

2 beds | 2 baths | 1,200 sq.ft.

$159,000

Airbnb cash on cash: 1.26%

Traditional cash on cash: 7.53%

Airbnb Rental Income: $1334

Traditional Rental Income: $1874

Airbnb ROI: 1.26%

Traditional ROI: 7.53%

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%

2925 Waldron Rd

Kankakee, IL

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

$241,900

Airbnb cash on cash: 3.92%

Traditional cash on cash: 5.5%

Airbnb Rental Income: $2297

Traditional Rental Income: $2085

Airbnb ROI: 3.92%

Traditional ROI: 5.5%

231 S Chicago Avenue

Kankakee, IL

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

$210,000

Airbnb cash on cash: 5.64%

Traditional cash on cash: 8.4%

Airbnb Rental Income: $2297

Traditional Rental Income: $2274

Airbnb ROI: 5.64%

Traditional ROI: 8.4%

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

Traditional ROI: 7.47%

378 S Evergreen Avenue

Kankakee, IL

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%

1470 S 5th Avenue

Kankakee, IL

3 beds | 1 baths | 1,408 sq.ft.

$199,900

Airbnb cash on cash: 2.7%

Traditional cash on cash: 5.71%

Airbnb Rental Income: $1699

Traditional Rental Income: $1798

Airbnb ROI: 2.7%

Traditional ROI: 5.71%

27 Marquette Lane

Kankakee, IL

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%