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Ottawa Multifamily Investment Opportunity

621 Chapel Street, Ottawa, IL 61350

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For Sale

Under Contract

$360,000

MULTI_FAMILY - Ottawa, IL

Lot size:

0.32 Acres

HighLights

Zoned multi‑family 4‑unit property with potential for a 5th unit
Currently producing an 8.7 cap rate, with room for improvement
New roof, gutters, soffit, fascia, and exterior paint completed in 2024‑25
2 units have separate utilities; 2 units share utilities
Brick construction with flat and asphalt roofing
Balcony and porch; public water and public sewer

We can help!

Listing Contact

Phil Makarewicz

For Sale

Under Contract

$360,000

MULTI_FAMILY - Ottawa, IL

Lot size:

0.32 Acres

Added:: Jan 23, 2026
Days on Market:: 141
Last Refresh:: Jun 13 at 6:06 am

Property Features for 621 Chapel Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 7
Bathrooms: 4
Rooms: Bathroom 1, Bedroom 3, Bathroom 2, Utility Room, Bathroom 4, Bedroom 7, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Laundry Room
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: Forced Air, Natural Gas
Water source: Public

Building Details

Year built: 1900
Building materials: Brick
Roof type: Flat, Asphalt

We can help!

Listing Contact

Phil Makarewicz

Listing agent Phil Makarewicz License #475138878

Listing office Keller Williams Innovate 2430 W. Indian Trail Rd #203, Aurora, IL

Listing date Jan 23, 2026

MLS# 12551792 Listing URL

HighLights

Zoned multi‑family 4‑unit property with potential for a 5th unit
Currently producing an 8.7 cap rate, with room for improvement
New roof, gutters, soffit, fascia, and exterior paint completed in 2024‑25
2 units have separate utilities; 2 units share utilities
Brick construction with flat and asphalt roofing
Balcony and porch; public water and public sewer

Overview

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.

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

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Local Demand

City: Ottawa
County: LaSalle
State: Illinois
Longitude: -88.83204
Latitude: 41.348118

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For sale
Quadplexes
IL
Ottawa
61350
621 Chapel Street

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: Zoned multi‑family 4‑unit property with potential for a 5th unit; Currently producing an 8.7 cap rate, with room for improvement; New roof, gutters, soffit, fascia, and exterior paint completed in 2024‑25

621 Chapel Street, Ottawa, IL 61350

MULTI_FAMILY - Ottawa, IL

Property Features for 621 Chapel Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Versatile Commercial Facility in Ottawa

Commercial Property in Ottawa, IL

Ottawa Commercial Site with Warehouse

New Multifamily Investment Opportunity

Two-Unit Residential Income Duplex

Three-Unit Multifamily Building

Ottawa, IL Multi-Family Property

Starved Rock Commercial Opportunity

Versatile Commercial Property in Ottawa

Historical Ottawa Mixed-Use Building

Two-Unit Duplex with Separate Entrances

Riverfront Office Building For Sale

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