Office Building with
227 W Madison Street, Ottawa, IL 61350
For Sale
New
$499,900
Commercial Sale, Ottawa, IL
Property Size6,400 SF
Lot Size0.07 Acres
Price / SF$78.11
Days on Market7
Property Features for 227 W Madison Street
General Information
Property type
Property subtype
Zoning
Directions
Subdivision
Standard status
APN
Lot size
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Cooling system
Amenities
conference room
kitchen
bathrooms
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
Spring Realty
(815) 741-7000
Listed By:
Ricky Gray · License IL #475127902
(815) 351-0555
Added: Nov 3
Changed: Nov 5
Last Checked: Nov 9 at 10:06AM
MLS# 12800525
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.
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Investment Insights
Based on property information with market context.
This 6,400-square-foot office building, constructed in 1915, has two floors of 3,200 square feet each. The first floor is vacant and includes multiple offices, a conference room, entry area, kitchen, and bathrooms. The second floor is fully leased. An elevator serves both levels, and a full basement is split between the floors for storage. The lower level is available for rent, with the owner willing to consider a tenant buildout.
The property is in downtown Ottawa, one block from the courthouse and two blocks from the Illinois and Fox rivers. Its zoning is COMMR.
The property is in downtown Ottawa, one block from the courthouse and two blocks from the Illinois and Fox rivers. Its zoning is COMMR.
Key Highlights
- 6,400‑square‑foot building with 3,200 square feet on each of two floors
- Vacant first floor has offices, a conference room, kitchen, bathrooms, and entry area
- Second floor is fully leased
Property Analytics
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Current Use
Lease Details
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - The second floor is leased, while the first-floor offices are vacant.
Where is this office building located?
The property is located at 227 W Madison Street Ottawa, IL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 6,400‑square‑foot building with 3,200 square feet on each of two floors; Vacant first floor has offices, a conference room, kitchen, bathrooms, and entry area; Second floor is fully leased
