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Listing provided courtesy of Coldwell Banker RealtyMREDas Distributed by MLSGrid- MLS# 12402492MLS Provider

481 N Schuyler Avenue NKankakee, IL 60901

Commercial · 8,700 Sq. ft.
$260,000 Active

481 N Schuyler Avenue N Overview

Time on Site:
369 days
Visits:
8

Price Reduced - Now $285,000 This exceptional commercial offering near downtown Kankakee presents over 5,000 sq ft of versatile space formerly used as a successful bar and banquet hall. Features include three full-service bars (one with nostalgic aluminum ceiling), dance floor with stage & lighting, his & hers multi-stall restrooms, walk-in pantry, private office with vault, full security camera system (equipment owned), basement storage, wheelchair access, and a 2-3 bedroom apartment upstairs (needs work - terrific potential for added income). Equipment, furnishings and fixtures are included-tables, bar stools, pool table, commercial coolers & ice machines, ceiling & floor speakers. Outside you'll find two rear decks for outdoor seating, a detached garage for storage/utility use, and a roof replaced in 2015. Liquor and video-gaming licenses were held by owner (buyer must reapply). Selling AS IS. Motivated Seller. REALTOR-owned. Rare find at this new price.

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481 N Schuyler Avenue N Facts & Features

  • Type Commercial
  • Sq. ft. 8,700
  • Price/Sq.ft. $30

Details

General

Income/Expenses

  • Operating Expense: 0

Business Information

  • Business Type: Bar/Tavern/Lounge
  • Current Use: Commercial

Location/Region

  • County Or Parish: Kankakee
  • MLS Area Major: Kankakee

Rent/Lease Information

  • Tenant Pays: Electricity, Heat, Other

Tax Information

  • Tax Annual Amount: $5,456.66
  • Tax Year: 2024

General Information

  • New Construction: No
  • Parcel Number: 16093240401000
  • Possible Use: Commercial,Liquor License,Residential
  • Property Type: Business Opportunity
  • Zoning: COMMR

Interior

Building Interior

  • Building Area Total: 8700

General Information

  • Cooling: Central Air
  • Stories: 2

Unit Information

  • Unit SqFt.: 8700

Exterior

Lot Information

  • Additional Parcels: No
  • Frontage Type: City Street
  • Lot Size Dimensions: 60X145
  • Lot Size Square Feet: 8700

Waterfront/View

  • Waterfront: No

Building Exterior/Construction

  • Construction Materials: Wood
  • Roof: Composition

General Information

  • Utilities: Electric to Site,Natural Gas Available,Sewer Connected

481 N Schuyler Avenue N Neighborhood

Community

60901 (KANKAKEE) Demographics

37
Median Age
362
Population Density (per sq. mile)
23%
College Educated
$49,090
Estimated Median Income
7,844
Estimated Total Home Owners
5,518
Estimated Total Renters
59% / 41%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

481 N Schuyler Avenue N Monthly Cost

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$ %
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Corinne Guerra
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

481 N Schuyler Avenue N Market Data

Based on the last 30 days in this zip code

$225,943
Average List Price
$132
Average Price per Square Foot
16
Properties Sold
88
Average Days on Market
97
Properties for Sale
Calculations provided by Reliance Network

481 N Schuyler Avenue N History

Date Event Value Agent
6/18/2026Source: MRED Status Change
Active
6/12/2026Source: MRED Price Reduction
$260,000 -8.8%
6/12/2026Source: MRED Status Change
Re-activated
11/17/2025Source: MRED Status Change
Active
11/12/2025Source: MRED Price Reduction
$285,000 -14.9%
11/12/2025Source: MRED Status Change
Price Change
7/31/2025Source: MRED Status Change
Active
6/26/2025Source: MRED Added to Database
June 26, 2025
6/20/2022Source: MRED Added to Database
January 27, 2022