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Property profile & analytics

1507 La Salle St Ottawa, IL 61350

  • Commercial real estate
Value Estimation
Last Sale
Apr 21, 2025
$240,000
Location Intelligence
Property ID
US28-4020212
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Commercial real estate

Property Details for 1507 La Salle St

Property type
Commercial real estate
APN
21-02-424-006
APU
2102424006

Description

This exceptional 5,351 square foot mixed-use property at 1507 La Salle Street in Ottawa, Illinois presents a unique investment opportunity. Ideally situated minutes from Route 6 and I-80, with easy access to downtown Ottawa's vibrant restaurants and shopping, this building offers unparalleled versatility. The main level boasts a welcoming reception area and six office spaces, one highlighted by a captivating wood-rounded vault ceiling, uplighting, granite tile floors, and custom cabinetry. An original bank vault, measuring 20x11 feet, provides secure storage or a creative workspace. Further enhancing the commercial space are a spacious work/conference room, a large open computer room with patio access, a half bathroom, and ample storage. A remarkable feature is the separate residential unit accessed from the alley. This private living space includes an open-concept area with stone and wood accents, a full kitchen with laundry facilities, a comfortable bed nook, a private office, and a spiral staircase leading to a second-level private room complete with a walk-in closet. This property's blend of historic character, modern conveniences, and adaptable spaces makes it ideal for a business, a live-work arrangement, or a multi-purpose operation. The property is also available for purchase as a package with 1517 La Salle Street (MLS 12257659) for a combined price of $310,000.

Value Estimation

by Realmo proprietary methodology Last update: July 3, 2025
  • AI approach

    CAP return
    Estimation
    Estimation
    $230,000
  • CAP approach

    CAP return
    Estimation
    6%
    $230,000
    6.5%
    $230,000
    7%
    $245,000
  • Comparable approach

    Method
    Estimation
    Relative Method
    $220,000
    Geo Method
    $240,000
  • Alternative Use

    Use
    Estimation
    Distribution
    $195,000
    Retail
    $255,000
    Mixed-Use
    $220,000
    Hospitality
    $270,000
    Educational
    $270,000
    Residential Income
    $200,000
    Energy
    $250,000
    Income-Based Land
    $260,000
    Food Service
    $275,000

Location Insight

  • Map
  • Local Demand
City
Ottawa
County
Lasalle
State
Illinois
Longitude
-88.8431
Latitude
41.3555
CBSA code
36837
CBSA name
OTTAWA, IL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$3,429
$10,618
$21,940
$32,558
-
$31,854
$65,820
$97,674
More about this property
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