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    1507 La Salle St Ottawa, IL 61350

    Sponsored
    For Sale
    $275,000

    Historic Charm, Modern Amenities, Endless Potential

    Property size:
    5,351 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 5,351 square foot mixed-use property at 1507 La Salle Street in Ottawa, Illinois presents a unique investment opportunity. Ideally situated minutes from Route 6 and I-80, with easy access to downtown Ottawa's vibrant restaurants and shopping, this building offers unparalleled versatility. The main level boasts a welcoming reception area and six office spaces, one highlighted by a captivating wood-rounded vault ceiling, uplighting, granite tile floors, and custom cabinetry. An original bank vault, measuring 20x11 feet, provides secure storage or a creative workspace. Further enhancing the commercial space are a spacious work/conference room, a large open computer room with patio access, a half bathroom, and ample storage. A remarkable feature is the separate residential unit accessed from the alley. This private living space includes an open-concept area with stone and wood accents, a full kitchen with laundry facilities, a comfortable bed nook, a private office, and a spiral staircase leading to a second-level private room complete with a walk-in closet. This property's blend of historic character, modern conveniences, and adaptable spaces makes it ideal for a business, a live-work arrangement, or a multi-purpose operation. The property is also available for purchase as a package with 1517 La Salle Street (MLS 12257659) for a combined price of $310,000.

    Property Features for 1507 La Salle St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    5,351 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Ottawa
    County
    LaSalle
    State
    Illinois
    Longitude
    -88.8431
    Latitude
    41.35547

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    FAQs

    What type of property is this?
    Mixed-use property - Historic Charm, Modern Amenities, Endless Potential
    Where is this mixed-use property located?
    The property is located at 1507 La Salle St Ottawa, IL.
    What is the asking price?
    The asking price for this property is $275,000.
    (815) 433-5501
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    1507 La Salle 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
    1507 La Salle St Ottawa, IL 61350
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