Ottawa Multifamily Investment
621 Chapel Street Ottawa, IL 61350
For Sale
Under Contract
$360,000
MULTI_FAMILY - Ottawa, IL
Lot Size0.32 Acres
Days on Market184
Property Features for 621 Chapel Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 4, Bedroom 7, Bathroom 2, Bedroom 3, Utility Room, Bedroom 4, Bathroom 3, Bedroom 1, Bedroom 6, Laundry Room, Bedroom 2, Bedroom 5
- Patio and Porch features
- Porch
- Exterior features
- Balcony
- Basement
- Crawl Space
- Standard status
- Active Under Contract
- APN
- 2112138003
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 4290
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1900
- Building materials
- Brick
- Roof type
- Flat, Asphalt
Listing Agency:
Keller Williams Innovate
(630) 423-8223
Listed By:
Phil Makarewicz · License #475138878
(630) 423-8223
Added: Jan 23
Changed: Jul 13
Last Checked: Jul 26 at 6:06PM
MLS# 12551792
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
This four-unit multifamily property, zoned for multi-family use, presents an investment opportunity with the potential for a fifth unit. The property is currently producing an 8.7% capitalization rate, with opportunities for improvement through long-term tenants or short-term rentals. Situated in the historic district of Ottawa, Illinois, it is within walking distance of downtown, offering a variety of restaurants and shopping options. Recent improvements, completed in 2024-25, include a newly renovated unit, a new roof, gutters, soffit, fascia, and exterior paint. The property is located on a 0.32-acre lot. Two units have separate utilities, while the other two share utilities.
Key Highlights
- 4‑unit multi‑family building zoned for multi‑family, with potential for a 5th unit
- Currently producing an 8.7 cap rate, with room for improvement for long‑term tenants or Airbnb use
- Recent upgrades in 2024–2025: newly renovated unit, new roof, gutters, soffit, fascia, and exterior paint
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit multifamily property with potential for a fifth unit.
Where is this quadplex located?
The property is located at 621 Chapel Street Ottawa, IL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 4‑unit multi‑family building zoned for multi‑family, with potential for a 5th unit; Currently producing an 8.7 cap rate, with room for improvement for long‑term tenants or Airbnb use; Recent upgrades in 2024–2025: newly renovated unit, new roof, gutters, soffit, fascia, and exterior paint
