112 Madison St, Ottawa, IL 61350-5006
This exceptional mixed-use property at 112 W Madison Street, Ottawa, IL, presents a compelling redevelopment opportunity in a thriving downtown area. Located adjacent to the historic LaSalle County Courthouse, this site benefits from its central location within walking distance of the Fox and Illinois Rivers. The property is surrounded by a bustling mix of restaurants, unique retail shops, entertainment venues, and professional offices, creating a vibrant and dynamic environment. Ottawa's strong community spirit is evident in its year-round festivals and active lifestyle, enhanced by nearby boating opportunities and proximity to Starved Rock State Park. Residents and visitors enjoy extensive walkability, access to bike trails including the I&M Canal trail, and the renowned Washington Square Park, historically significant as the site of the first Lincoln-Douglas senatorial debate. The property's convenient location just off I-80 provides easy access to major transportation routes, including a 90-minute drive to downtown Chicago and O'Hare and Midway International Airports. This location offers the best of both worlds – a thriving small-town atmosphere with easy access to a major metropolitan area. The property is being sold "as is," presenting a unique chance to shape the future of this dynamic downtown location. The 0-acre lot offers significant potential for a variety of development projects. The property's size is not specified, presenting an opportunity for buyers to assess the potential based on their specific development plans.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.