1507 La Salle St Ottawa, IL 61350
- Commercial real estate
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
-
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