Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    227 W Madison St Ottawa, IL 61350

    For Lease
    $5 SF/Yr

    Office - Ottawa, IL

    Type:Office
    Days on Market:
    84
    Last Refresh:
    Dec 8 at 2:06 pm

    Property Features for 227 W Madison St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    Zoning
    COMMR

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1915
    Number of units
    2
    Flooring type
    Vinyl
    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# 12472931 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

    Prime Commercial Space in Ottawa

    Located in downtown Ottawa, IL, this commercial space offers 3200 sq. ft. on the main floor. The property features multiple offices (6), a reception area, open desk spaces, and an entryway. The front offices benefit from abundant natural light. Suitable for multiple uses, including offices, restaurants, or retail, the location is one block from the LaSalle County Courthouse and City Hall, and two blocks from the Illinois and Fox Rivers. New floors have been installed throughout the space. The building is also available for purchase.
    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

    Nearby Similar for Lease

    • $10 SF/Yr
      11,000 SF

      Remodeled Commercial Space For Lease

      3947 SF remodeled commercial space suitable for retail/distribution/manufacturing.
      300 W Joliet St, Ottawa, IL 61350
      View Details
    • $26 SF/Yr
      24,394 SF

      General Office Space Available

      645 SF office space with shared amenities in Ottawa.
      1400 Columbus St, Ottawa, IL 61350
      View Details
    • $16 SF/Yr
      35,000 SF

      North Ottawa Plaza Office Suites

      Prime Ottawa Office Space Available
      2709 Columbus St, Ottawa, IL 61350
      View Details
    • Contact for pricing
      24,000 SF

      Prime Ottawa Office Space Available

      Downtown Ottawa office, 2,000-3,000 sqft
      1124 Columbus St, Ottawa, IL 61350
      View Details
    • $7 SF/Yr
      7,200 SF

      Industrial Space with Concrete Pavement

      Industrial property featuring concrete pavement, roll-up doors, and fenced yard.
      200 W Stevenson Rd, Ottawa, IL 61350
      View Details
    • $15 SF/Yr
      2,400 SF

      Retail Space Near Walmart Supercenter

      Retail spaces available near I-80 and Walmart Supercenter.
      4030-4036 Veterans Dr, Ottawa, IL
      View Details

    FAQs

    What type of property is this?
    Office space - 3200 sq. ft. commercial space in downtown Ottawa, IL.
    Where is this office space located?
    The property is located at 227 W Madison St Ottawa, IL.
    What is the lease rate?
    The lease rate is $5 SF/Yr.
    What are key features of this property?
    This property features: - Prime downtown Ottawa commercial location.; - 3200 sq.ft. main floor space suitable for offices, restaurants, or retail.; - Features multiple offices (6), reception area, and open desk spaces.
    (815) 741-7000
    Request Owner's contact information
    227 W Madison St Ottawa, IL 61350
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    227 W Madison St
    Ottawa, IL 61350
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.