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    227 W Madison St Ottawa, IL 61350

    For Sale
    $510,000

    Mixed Use - Ottawa, IL

    Type:Mixed Use
    Property size:
    6,400 SF
    Days on Market:
    90
    Last Refresh:
    Dec 14 at 9:06 am

    Property Features for 227 W Madison St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    Zoning
    COMMR
    APN
    2111401002
    Size
    6,400 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1915
    Number of units
    2
    Architectural style
    Other

    spring realty inc (815) 351-0555 [email protected]

    Listing agent Ricky Gray (815) 741-7000 License #475127902

    Listing date Sep 16, 2025

    MLS# 12471823 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Ottawa Mixed-Use Building

    Located in the historical downtown of Ottawa, Illinois, this two-story mixed-use building offers 6400 square feet of space. Situated one block from the courthouse and in the heart of Starved Rock Country, the property presents an investment opportunity. The first floor, comprising 3200 square feet, is currently vacant and features large offices, high ceilings, a conference room, an entryway, bathrooms, and a kitchen. Cosmetic work on the first floor could attract potential tenants. The second floor, also 3200 square feet, is fully leased. An elevator provides access to both floors. The building includes a full basement, with each floor having shared access for storage. The lower level is currently available for rent. Located two blocks from the Illinois and Fox Rivers, the property has possibilities for office space or apartments above a business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fuller Michael W Attorney Richard L. Burton Attorney Burton, Fuller & Associates, ... Law Firm Shannan Hermann Nurse Practitioner Eric Denny Nurse Practitioner

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ottawa
    County
    LaSalle
    State
    Illinois
    Longitude
    -88.84307
    Latitude
    41.346777

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    FAQs

    What type of property is this?
    Mixed-use property - Two-story, 6400 sq ft mixed-use building in Ottawa, Illinois.
    Where is this mixed-use property located?
    The property is located at 227 W Madison St Ottawa, IL.
    What is the asking price?
    The asking price for this property is $510,000.
    What are key features of this property?
    This property features: - 6400 sq ft two-story building in historical downtown Ottawa.; - Prime location: one block from the courthouse and in the Heart of Starved Rock Country.; - First floor (3200 sq ft) is vacant, offering immediate renovation and tenant acquisition potential.
    (815) 741-7000
    Request Owner's contact information
    227 W Madison St Ottawa, IL 61350
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    Ottawa, IL 61350
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    227 W Madison St Ottawa, IL 61350
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