June 06, 2025
NewsHigh School SportseNewspaperNewslettersObituariesEvent Calendar

Jeffers’ Kankakee development nearly set

By Lee Provost
The apartment project proposed by J. Jeffers & Co. as seen from the 300 block of South Dearborn at the intersection of East Station Street in downtown Kankakee.

The apartment project proposed by J. Jeffers & Co. as seen from the 300 block of South Dearborn at the intersection of East Station Street in downtown Kankakee. (Provided by J. Jeffers & Co.)

KANKAKEE – A nearly 2-acre property in downtown Kankakee which has been largely unused for several years appears set for new life.

Following the Kankakee City Council’s approval of redevelopment plans and zoning alterations on Monday, the 2nd Ward project for a business incubator and a 47-unit, three-story, market-rate apartment by a Milwaukee, Wisconsin-based company appears about ready to begin.

The final building block is in Kankakee’s hands. The city needs to submit a certification package to the Illinois Department of Commerce and Economic Opportunity to have it eligible for state River’s Edge Redevelopment Zone inclusion.

After the council meeting, Mayor Chris Curtis said it remains his goal that all necessary papers be in the state’s hand by July 1.

The River’s Edge zoning allows for various tax incentives for developing or revitalizing properties, in this case, near the Kankakee River.

The mixed-use project carries with it a price tag of about $23 million. About $19.3 million is slated for the development of one- and two-bedroom apartments at the corner of South Dearborn Avenue and East Station Street and about $4.5 million for the rehab of the vacant Midland States Bank property, 310 S. Schuyler Ave.

The revised plans for the nearly 2-acre project were approved by a 6-0 vote on May 20 by the Kankakee Planning Board.

The project had slightly changed from its most recent version. At the planning board, Brian Loftin explained it was now being developed as a Planned Unit Development, which allows for more types of use within the development.

A PUD basically allows for different types of uses within its boundaries, meaning residential can be mixed with commercial and recreational.

The development project, known as Co.LAB Kankakee, brings long hoped for residential space and innovation to the city’s downtown.

“This public-private partnership is grounded in a long-term commitment to create spaces where people and businesses can thrive,” Josh Jeffers, president and CEO of J. Jeffers & Co., said in a news release. “We’ve remained at the table through each phase of Co.LAB’s evolution because we believe Downtown Kankakee is set for smart, inclusive growth.”

The project’s first phase focuses on the rehab of the 1958 former Kankakee Federal Bank building. The building will reopen as a business hub and community innovation center.

Approved in accordance with the U.S. Secretary of Interior’s Standards for Rehabilitation, the project will preserve key post-war modernist architectural elements, including original metal ribbon windows, interior marble and woodwork, and terrazzo flooring.

The restored two-story, 30,000-square-foot structure – to be known as the Co.LAB Accelerator – will serve as a prime employer office space and resource hub for small business owners and startups, offering:

• 10,000 square feet of second-floor Class A officer space

• Ground-floor commercial space, planned for occupancy by an apparel company

• Lower-level business accelerator space, developed in partnership with Kankakee’s Economic and Community Development Agency and other stakeholders

Co.LAB Accelerator is slated to begin construction in October 2025.

Slated for occupancy in late 2026, the 47-unit residential property is the second phase of Co.LAB Kankakee and will be known as Co.LAB Flats.

It will be constructed immediately east of the former bank property and will have an address of 250 E. Station St.

The residential project is slated to have an annual residential spending impact of $5.7 million, according to J. Jeffers.

“The crowds at our farmers market and Sunset Stroll festival this past weekend show that Downtown Kankakee is poised for the next level of revitalization,” 2nd Ward alderman Dave Baron said.

“The projects approved tonight will help achieve that by creating exciting new spaces for commercial innovation and walkable urban living not found anywhere else in the region.”