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    1201-1217 Illinois Ave Ottawa, IL 61350

    Sponsored
    For Sale
    $819,000

    Seven-unit brick building, prime location. Exceptional condition.

    Property size:
    6,724 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    342
    This remarkable investment opportunity presents a meticulously maintained seven-unit brick building situated at the highly visible corner of Illinois Avenue and Leland Avenue in Ottawa, Illinois. The property boasts 6,724 square feet on a 0.52-acre lot and is priced at $819,000. Built with quality construction and boasting exceptional upkeep, this historic landmark offers a blend of charm and strong investment potential. The building comprises three two-bedroom units and four one-bedroom units, each featuring a dedicated covered parking space and access to additional off-street parking. Every unit provides private front and back entrances, showcasing original hardwood floors and beautiful natural woodwork. Some units retain their original vintage chandeliers, adding to the property's unique character. Residents enjoy access to a partial basement with individual storage bays and shared laundry facilities. The property benefits from a new rubber roof installed in 2017 and features a secure back courtyard equipped with dusk-to-dawn and motion-sensor lighting. Heating is provided by hot water heat. The building's long-term tenants contribute to its financial stability, making this a truly exceptional opportunity for discerning investors seeking a well-maintained, historically significant property with strong rental income.

    Property Features for 1201-1217 Illinois Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,724 SF
    Lot Size
    22,651 SF

    Building Details

    Year Built
    1966
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Ottawa
    County
    LaSalle
    State
    Illinois
    Longitude
    -88.85623
    Latitude
    41.34382

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    FAQs

    What type of property is this?
    Commercial real estate - Seven-unit brick building, prime location. Exceptional condition.
    Where is this commercial real estate located?
    The property is located at 1201-1217 Illinois Ave Ottawa, IL.
    What is the asking price?
    The asking price for this property is $819,000.
    (815) 433-5501
    Request Owner's contact information
    1201-1217 Illinois Ave 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
    1201-1217 Illinois Ave Ottawa, IL 61350
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