626 Madison St Ottawa, IL 61350
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Retail properties & Spaces
Property Details for 626 Madison St
- Year built
- 1866
- Property type
- Retail properties & Spaces
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property, located at 626 W Madison St in Ottawa, Illinois, presents a compelling investment opportunity. The 6,288 square foot building, constructed in 1866 and situated on a 22,500 square foot lot, boasts seven units: two 1,250 square foot retail spaces and five apartments (three two-bedroom and two one-bedroom). Apartment #5 offers a unique feature – a private yard and entry. The property includes a detached four-stall garage totaling 1,000 square feet and provides 20 parking spaces. All apartments are larger than average, promising strong rental income. The building benefits from a 2018 roof and other recent improvements. Ottawa's strategic location near I-80 and I-39/51, coupled with its revitalized downtown area, thriving riverfront, and expanding amenities (including new housing, shopping, dining, and marinas), makes this a highly desirable location. The property is conveniently located within walking distance of Ottawa's downtown core. The asking price is $300,000, translating to $47.71 per square foot. Financial details, including the rent roll, are available upon request and a contract must be executed before property tours are permitted. The property is offered as-is. The APN is 2111144018.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ottawa
- County
- LaSalle
- State
- Illinois
- Longitude
- -88.85
- Latitude
- 41.3471
