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$899,000 -$101,000 (-10.1%) Price Reduced

  • For Sale
  • Active
  • Business
  • 17,000 Sq. Ft.
  • Updated 3 days ago
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Seize the opportunity to own a profitable, established business in the heart of Wilmington! Milltown Market & Storage features a spacious 17,000 sq ft building that houses 50+ vendor booths, making it a regional destination for antiques, collectibles, vintage decor, and one-of-a-kind finds. The marketplace has a loyal customer base and a steady stream of visitors year-round. Adding to the income potential, the property includes 39 outdoor storage units, all with paying tenants, providing reliable monthly rental revenue. This dual-income model-retail vendor space plus storage rental-makes Milltown Market & Storage a unique and stable investment. With a strong vendor community, consistent rental income, and an expansive building in a prime location, this is a rare chance to acquire a turnkey business with growth potential.

Full Property Details for 508 N Kankakee St

General

  • Price: $899,000
  • Taxes: $3,468 (2024)
  • Status: Active
  • Type: Business
  • Source: MRED
  • MLS ID: 12458780
  • Updated: 1/13/2026
  • Added to Site: 137 day(s) ago

Business

  • Name: MILLTOWN MARKET & STORAGE
  • Business Type: Retail
  • Years in Business: 11 or More

Interior

  • Interior Features: Freight Elevator(s), Public Restroom(s), Storage Inside, Laundry Room

Location

  • Area: Wilmington
  • County: Will
  • Driving Directions: From Joliet .. Rt. 53 into Wilmington .. Turn right on Kankakee Street to property: Milltown Market and Storage
  • Location Details: Central Business District

Heating & Cooling

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

Structural Information

  • Stories/Levels: 2
  • Square Feet: 17,000
  • Current Bldg. Use: Commercial

Lot Features

  • Lot Size (Sq. Ft.): 37,026
  • Lot Size Range: .50 to .99 Acre
  • Lot Dimensions: 193 x 226 x 153 x 226
  • Zoning: COMMR

Financial Considerations

  • For Sale/Rent/Lease: For Sale Only
  • Operating Expenses: $30,000
  • Tax Amount: $3,468
  • Tax Year: 2024

Disclosures and Reports

  • Ownership: Sole Proprietor
  • Property ID: 317253290120000

Listed by Village Realty, Inc.

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— 508 N Kankakee St —

  • Village Realty, Inc.

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Schools serving 508 N Kankakee St

School District:Wilmington Community Unit School District 209u
NameGradesDistance
L J Stevens Intermediate School
221 Ryan Street, Wilmington, IL 60481
2-50.8 mi
Bruning Elementary School
1910 Bruning Drive, Wilmington, IL 60481
PK-12.1 mi
Wilmington Middle School
715 South Joliet Street, Wilmington, IL 60481
6-80.7 mi
Wilmington High School
209 Wildcat Court, Wilmington, IL 60481
9-121 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 508 N Kankakee St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
1/13/2026
Price Reduced
$899,000
-10.1%
MLS
9/02/2025
Listed
$1,000,000
—
MLS
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.

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508 N Kankakee Street, Wilmington, IL 60481 (MLS# 12458780) is a Business property. 508 N Kankakee Street is currently listed for $899,000 and was received on September 02, 2025. Want to learn more about 508 N Kankakee Street? Do you have questions about finding other Business real estate for sale in Wilmington? You can browse all Wilmington real estate or contact a Coldwell Banker agent to request more information.

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