Starved Rock Commercial
For Sale
$145,000
1313 Chestnut St, Ottawa, IL 61350
Established bike shop near Starved Rock State Park for sale.
Property Size1,325 SF
Price / SF$109.43
Days on Market193
Property Features for 1313 Chestnut St
General Information
Standard status
Active
Size
1,325 SF
Building Details
Year Built
2006
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
George Shanley · License #475092481
(815) 228-1859
Source:
Bktchicago
Added: Mar 27
Changed: Oct 5
Last Checked: Oct 4 at 12:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Real Estate Group
Investment Insights
Based on property information with market context.
This unique commercial property is located in the "Town of Two Rivers," near the Illinois & Michigan Canal and close to Starved Rock State Park and other state parks. Currently operating as a bike shop offering sales, rentals, and repairs, the property is positioned to attract outdoor enthusiasts year-round. The main building includes a lobby, office space, service area, kitchen, and two bathrooms, making it suitable for various business needs. In 2014, a 13' x 24' Morton building was added, providing additional space for storage, workspace, or future expansion. The property offers possibilities to continue the bike business, convert to retail or office space, or bring your own vision to life. The building has a total size of 1325 square feet.
Key Highlights
- Prime location in Starved Rock Country, a major tourist destination.
- Established business opportunity as a well‑regarded bike shop with sales, rentals, and repairs.
- High‑visibility, high‑traffic location in the 'Town of Two Rivers', near bike paths and scenic routes.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,020
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,400
$240.4K
Cap Rate 7%
$171,714
$171.7K
Cap Rate 9%
$133,556
$133.6K
Market Conditions
NOI Build-Up for 1,325 SF
Gross rent
$19.1K $14.40/SF
− Vacancy
−$1.9K −$1.44/SF
EGI
$17.2K $12.96/SF
− OpEx
−$5.2K −$3.89/SF
NOI
$12.0K $9.07/SF
Area
LaSalle, IL
La Salle County, LA
Vacancy
10.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,400
Cap Rate 7%
$171,714
Cap Rate 9%
$133,556
Alternative Uses
Best Use
Retail
$171.7K
$150.3K – $200.3K
NOI $12,020 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.6K
$290.2K – $386.9K
NOI $23,214 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 61350, IL
23,997
Population
10,853
Households
2.2
Avg Household Size
43
Median Age
22%
College-Educated
93%
High-School Grad
152.5 sq mi
ZIP Area
157
Density / Sq Mi
$77,562
Median Household Income
$43,042
Median Earnings
$940
Median Rent
$157,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Established bike shop near Starved Rock State Park for sale.
Where is this retail space located?
The property is located at 1313 Chestnut St Ottawa, IL.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Prime location in Starved Rock Country, a major tourist destination.; Established business opportunity as a well‑regarded bike shop with sales, rentals, and repairs.; High‑visibility, high‑traffic location in the 'Town of Two Rivers', near bike paths and scenic routes.
