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210 Tedmark Ct 58 Unit Apartment Building $4,350,000 ($75,000/Unit) Kankakee, IL 60901
Executive Summary
FOR SALE - KANKAKEE - 58 UNIT APARTMENT COMPLEX - This seller is offering the Tedmark & Cooper Apartment Complex, a 58-unit, seven building multifamily portfolio in Kankakee, IL at a purchase price of $4,350,000 equal to $75,000 per unit. The property has been operating under IHDA regulations, with extended use requirements, that ended December 2025, creating a rare and immediate market rate conversion opportunity. With rents below market rate, above normal vacancy and turnover constrained by compliance rules, the portfolio is positioned for a new owner to execute a high impact value add strategy and unlock substantial NOI growth. Also, with the IHDA expiration, this would be an opportune time for the buyer to incorporate RUBS (Ratio Utility Billing System) for additional value add income! PROPERTY OVERVIEW 58 Total Units Across Seven Buildings 210 Tedmark Ct. - 12 units 220 Tedmark Ct. - 4 units 230 Tedmark Ct. - 4 units 240 Tedmark Ct. - 8 units 2755 Cooper Dr. - 12 units 2779 Cooper Dr. - 12 units 280 Tedmark Ct. - 6 units - GREAT INVESTMENT OPPORTUNITY - CALL TODAY!
Property Facts
| Price | $4,350,000 | Building Class | C |
| Price Per Unit | $75,000 | Lot Size | 2.36 AC |
| Sale Type | Investment | Building Size | 102,802 SF |
| No. Units | 58 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 0.73/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price | $4,350,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| No. Units | 58 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.36 AC |
| Building Size | 102,802 SF |
| No. Stories | 3 |
| Year Built | 1974 |
| Parking Ratio | 0.73/1,000 SF |
| Zoning | R-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
| Studios | 1 | - | - |
| 2+1 | 43 | - | - |
| 3+1.5 | 4 | - | - |
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Property Taxes
| Parcel Number | 12-17-03-106-025 | Improvements Assessment | $120,716 |
| Land Assessment | $25,682 | Total Assessment | $146,398 |
Property Taxes
Parcel Number
12-17-03-106-025
Land Assessment
$25,682
Improvements Assessment
$120,716
Total Assessment
$146,398
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210 Tedmark Ct
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