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$260,000 -$25,000 (-8.77%) Price Reduced

  • For Sale
  • Active
  • Business
  • 8,700 Sq. Ft.
  • Updated 2 days ago
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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.

Full Property Details for 481 N Schuyler Ave N

General

  • Price: $260,000
  • Taxes: $5,456 (2024)
  • Status: Active
  • Type: Business
  • Source: MRED
  • MLS ID: 12402492
  • Updated: 6/12/2026
  • Added to Site: 353 day(s) ago

Business

  • Business Type: Bar/Tavern/Lounge

Interior

  • Interior Features: Accessible Entrance, Public Restroom(s)

Location

  • Area: Kankakee
  • County: Kankakee
  • Driving Directions: N. Schuyler 1/2 mile North of Court Street.
  • Location Details: Freestanding/Urban, In City Limits

Heating & Cooling

  • Cooling Type: Central Air Conditioning
  • Heating Type: Forced Air

Utilities

  • Onsite: Electricity to Site, Natural Gas Available, Sewer Connected

Structural Information

  • Construction: Wood
  • Exterior Const.: Wood
  • Roof: Composition
  • Stories/Levels: 2
  • Square Feet: 8,700
  • Current Bldg. Use: Commercial

Lot Features

  • Lot Size (Sq. Ft.): 8,700
  • Lot Size Range: .25 to .49 Acre
  • Lot Dimensions: 60 x 145
  • Frontage: City Street
  • Potential Use: Commercial, Liquor License, Residential
  • Zoning: COMMR

Financial Considerations

  • For Sale/Rent/Lease: For Sale Only
  • Tax Amount: $5,456.66
  • Tax Year: 2024
  • Tenant Pays: Electricity, Heat, Other

Disclosures and Reports

  • Ownership: LLC
  • Property ID: 16093240401000
Buyer's Brokerage Compensation: Contact Listing Agent
Not binding unless confirmed by separate agreement among applicable parties.

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— 481 N Schuyler Ave N —

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Schools serving 481 N Schuyler Ave N

School District:Kankakee School District 111
NameGradesDistance
John Kennedy Middle Grade School
1550 West Calista Street, Kankakee, IL 60901
3-61.4 mi
Taft Primary School
1155 West Hawkins Street, Kankakee, IL 60901
K-31.5 mi
Kankakee Junior High School
2250 East Crestwood Street, Kankakee, IL 60901
7-81.7 mi
Kankakee High School
1200 West Jeffery Street, Kankakee, IL 60901
9-121.9 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 481 N Schuyler Ave N Get Price Alerts and Save Property

Date
Details
Price
Change
Source
6/12/2026
Price Reduced
$260,000
-8.77%
MLS
11/12/2025
Price Reduced
$285,000
-14.93%
MLS
6/26/2025
Listed
$335,000
570%
MLS
7/17/2015
Sold
$50,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 481 N Schuyler Ave N

Year
Property Taxes
Change
Tax Assessment
Change
2024
$5,539
-8%
$46,154
—
2023
$5,990
-4%
$46,154
—
2022
$6,272
-4%
$46,154
—
2021
$6,541
-3%
$46,154
—
2020
$6,751
-2%
$46,154
—
2019
$6,916
-4%
$46,154
—
2018
$7,192
-13%
$46,154
—
2017
$8,236
5%
$46,154
—
2016
$7,873
6%
$46,154
—
2015
$7,453
—
$46,154
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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481 N Schuyler Avenue N, Kankakee, IL 60901 (MLS# 12402492) is a Business property. 481 N Schuyler Avenue N is currently listed for $260,000 and was received on June 26, 2025. This property is listed by Brenda Ervin from our Bradley Office.Want to learn more about 481 N Schuyler Avenue N? Do you have questions about finding other Business real estate for sale in Kankakee? You can browse all Kankakee real estate or contact a Coldwell Banker agent to request more information.

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