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    801 Etna Rd Ottawa, IL 61350

    Sponsored
    For Sale
    $875,000

    Multifamily development land, utilities available.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 337,594 square foot site presents a unique multifamily development opportunity in Ottawa, Illinois. Comprising two parcels, it offers significant potential for a substantial project. Parcel 1, spanning 107,047 square feet, is zoned C - Business. Parcel 2, encompassing 230,547 square feet, is zoned A-2 (allowing single-family or duplex dwellings) and B (allowing single-family, duplex, and multifamily structures). The property boasts complete annexation and zoning approvals within the City of Ottawa, eliminating significant pre-development hurdles. All essential utilities—sewer, water, storm drainage, electricity, gas, and phone lines—are already installed on-site, along with some sidewalks. Its advantageous location offers convenient access to the City of Ottawa Park. Furthermore, this prime parcel benefits from its position within the I-80 commercial Tax Increment Financing (TIF) district and the Ottawa Enterprise Zone, potentially unlocking attractive financial incentives for developers. This is a rare opportunity to acquire a fully prepared site ready for immediate development in a market with strong demand for multifamily housing. The asking price for this exceptional property is $875,000.

    Property Features for 801 Etna Rd

    General Information

    Property type
    Land

    HighLights

    • $875,000 asking price for 337,594 square feet of land.
    • Located in Ottawa, IL, at 801 E Etna Road, 61350.
    • Zoned for multifamily development; annexation and zoning complete.
    • Utilities (sewer, water, storm, electric, gas, phone) are available on‑site.
    • Situated in the City of Ottawa I‑80 commercial TIF and Ottawa Enterprise Zone.
    Property Profile Location Intelligence

    Current Use by Public Records

    Heritage Woods of Ottawa Assisted Living Facility

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Ottawa
    County
    La Salle
    State
    Illinois
    Longitude
    -88.819212
    Latitude
    41.3732835

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    FAQs

    What type of property is this?
    Land - Multifamily development land, utilities available.
    Where is this land located?
    The property is located at 801 Etna Rd Ottawa, IL.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: $875,000 asking price for 337,594 square feet of land.; Located in Ottawa, IL, at 801 E Etna Road, 61350.; Zoned for multifamily development; annexation and zoning complete.
    (630) 740-7198
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    801 Etna Rd 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
    801 Etna Rd Ottawa, IL 61350
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