Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Ottawa IL 61350 Stevenson & Mbl Dr Ottawa, IL 61350

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    10.05 acres, I-80 access, development ready.

    Property Features for Ottawa IL 61350 Stevenson & Mbl Dr

    General Information

    Property type
    Land
    Lot Size
    437,778 SF

    We can help!

    Listing Contact
    Susan Chylek

    Listing Agency: Keller Williams Infinity Listing Agent: Susan Chylek

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 10.05-acre commercial and industrial land parcel presents a remarkable development opportunity in Ottawa, Illinois. Strategically located in the North TIF District and Enterprise Zone, this property enjoys convenient access to the I-80/Rt 23 interchange, offering unparalleled connectivity. Currently used for farming, the land is zoned for Light Industrial, Office, and Research uses (D Zoning), with Commercial zoning (C Zoning) also permitted. The property's prime location near major transportation routes makes it ideal for a variety of commercial and industrial ventures. Furthermore, the possibility of securing federal grants for manufacturing projects adds significant value. The parcel's APN is 14-36-143-000. This is a rare chance to acquire a substantial tract of land in a thriving area with excellent infrastructure and potential for significant returns. The property is situated at the Northwest corner of East Stevenson and Mable Drive, Ottawa, IL 61350 (LaSalle County, zip code 61350). Note that an additional 9.68-acre parcel is also available separately on Stevenson Road.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Ottawa
    County
    LaSalle
    State
    Illinois
    Longitude
    -88.830376103464
    Latitude
    41.379416478228

    Nearby Similar for Sale

    • $399,927
      0.16 Acres

      Ottawa Restaurant Opportunity

      Established restaurant for sale in Ottawa, Illinois.
      323 Railroad Ave, Ottawa, IL 61350
      View Details
    • $205,000
      2,680 SF

      Ottawa Duplex: Investment Opportunity

      Two-unit duplex near downtown Ottawa with long-term tenants.
      718 W Jackson St, Ottawa, IL 61350
      View Details
    • $474,900
      0.13 Acres

      Former Montgomery Ward Building

      Four-level building suitable for retail, office, and residential use.
      800 La Salle St, Ottawa, IL 61350
      View Details
    • New
      $795,000
      3.23 Acres

      New Multifamily Investment Opportunity

      Four units built in 2023, fully occupied, near downtown Ottawa.
      201 s 24Th Ave, Ottawa, IL 61350
      View Details
    • $179,000
      0.30 Acres

      Ottawa, IL Multi-Unit Building

      Three-unit apartment building in Ottawa, IL, with investment potential.
      1248 Ottawa Ave, Ottawa, IL 61350
      View Details
    • $729,900
      3.68 Acres

      Ottawa Commercial Site with Warehouse

      3.68 acre commercial site with storefront and warehouse.
      1021 Fosse Rd, Ottawa, IL 61350
      View Details
    • New
      $320,000
      1,850 SF

      New Duplex Near Downtown Ottawa

      New duplex near downtown Ottawa and Starved Rock State Park.
      201 24Th Ave, Ottawa, IL 61350
      View Details
    • $395,000
      0.32 Acres

      Ottawa Multifamily Investment Opportunity

      Four-unit multifamily property with potential for a fifth unit.
      621 Chapel St, Ottawa, IL 61350
      View Details
    • $259,000
      1.37 Acres

      Ottawa Warehouse Buildings on 1.37 Acres

      Two warehouse buildings on 1.37 acres in Ottawa, IL.
      1015 Fosse Rd, Ottawa, IL 61350
      View Details
    • New
      $194,428

      Turn-Key Ottawa Income Property

      Fully leased duplex generating immediate cash flow in Ottawa, IL.
      702 E Joliet St, Ottawa, IL 61350
      View Details
    • $510,000
      0.07 Acres

      Ottawa Commercial Building Investment Opportunity

      Two-story commercial building in Ottawa's historic downtown, near courthouse.
      227 W Madison St, Ottawa, IL 61350
      View Details
    • $449,900
      0.30 Acres

      Downtown Ottawa Commercial Building For Sale

      Three-story commercial building in downtown Ottawa with redevelopment potential.
      814 La Salle St, Ottawa, IL 61350
      View Details

    FAQs

    What type of property is this?
    Land - 10.05 acres, I-80 access, development ready.
    Where is this land located?
    The property is located at Ottawa IL 61350 Stevenson & Mbl Dr Ottawa, IL.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Excellent development opportunity near the Rt 23/I-80 interchange in Ottawa.; High-traffic location with excellent visibility.; Prime location for retail, commercial, or mixed-use development.
    (630) 778-5800 Call to check price and availability
    Request Owner's contact information
    Ottawa IL 61350 Stevenson & Mbl Dr Ottawa, IL 61350
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Ottawa IL 61350 Stevenson & Mbl Dr
    Ottawa, IL 61350
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Ottawa IL 61350 Stevenson & Mbl Dr Ottawa, IL 61350
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Susan Chylek
    Real Estate License ID: 475122825
    (630) 778-5800 (630) 240-9889
    Learn more
    Google sign-in failed. Please try again or use another login method.