Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    315 Mckinley Rd Ottawa, IL 61350
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    315 Mckinley Rd Ottawa, IL 61350

    View on Map
    • Commercial real estate
    • 12,748 SF
    • 1.24 lot acres
    Off-Market
    Property ID
    US28-4313907
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Gonzalo German MD / Physician
    • Dr. Michael K. Harney, MD / Pediatrician / Physician
    • Great Heights Medical - Best Weight Loss Program / Medical Clinic
    • Adeyemi Fatoki / Pediatrician / Physician

    Property Details for 315 Mckinley Rd

    Lot size
    1.24 lot acres
    Property size
    12,748 SF
    Property type
    Commercial real estate
    APN
    22-24-117-000
    APU
    2224117000

    Description

    This exceptional 12,953 square-foot mixed-use property in Ottawa, Illinois presents a compelling investment opportunity. Strategically located at 315 E McKinley Road, this seven-unit strip center enjoys unparalleled visibility and accessibility. Situated adjacent to a major national grocery store and near the busy intersection of IL Route 23 and McKinley Road, the property benefits from a high volume of traffic, boasting 10,900 AADT on IL 23. Currently, six of the seven units are occupied by long-term tenants, generating a consistent income stream. The C-3 zoning allows for a diverse range of uses, including retail, office, and restaurant spaces, providing flexibility for future development. The well-maintained building offers significant upside potential for investors seeking a strong return on investment or owner-occupants looking to establish their business in a high-traffic location. The property's prime location and established tenant base make it an attractive prospect for those seeking to capitalize on the growing commercial market in Ottawa. Seller financing is available for qualified buyers, making this an even more accessible opportunity. This is a rare chance to acquire a well-positioned, income-producing commercial property in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ottawa
    County
    Lasalle
    State
    Illinois
    Longitude
    -88.8354
    Latitude
    41.3238
    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
    $11,924
    $16,899
    $95,987
    $112,886
    -
    $50,697
    $287,961
    $338,658

    Comparable in this City

    • Value Estimation by Request

      Ottawa, IL 61350

      COMMERCIAL (GENERAL)
      Ottawa, IL 61350
      View Details
    • Value Estimation by Request

      508 Illinois Ave

      COMMERCIAL (GENERAL)
      508 Illinois Ave, Ottawa, IL 61350
      View Details
    • Value Estimation by Request

      222 Joliet

      COMMERCIAL (GENERAL)
      222 Joliet, Ottawa, IL 61350
      View Details
    • Value Estimation by Request

      110 Joliet St

      COMMERCIAL (GENERAL)
      110 Joliet St, Ottawa, IL 61350
      View Details
    • Value Estimation by Request
      1.29 Acres

      3303 State Rte 71

      COMMERCIAL (GENERAL) • 1.29 Acres
      3303 State Rte 71, Ottawa, IL 61350-9482
      View Details
    • Value Estimation by Request
      1.00 Acre

      Ottawa, IL 61350

      COMMERCIAL (GENERAL) • 1.00 Acre
      Ottawa, IL 61350
      View Details

    Similar Nearby for Sale

    • $819,000
      6,724 SF

      Historic Ottawa Multi-Family Investment

      Seven-unit brick building, prime location. Exceptional condition.
      1201-1217 Illinois Ave, Ottawa, IL 61350
      View Details
    • $729,900
      3.68 Acres

      Ottawa Commercial Site with Warehouse

      3.68 acre commercial site with storefront and warehouse.
      1021 Fosse Rd, Ottawa, IL 61350
      View Details
    • $40,900
      0.41 Acres

      Residential Lot in Pembrook Subdivision

      Residential lot in Ottawa, IL, with access to recreational park.
      1402 Shaws Ln, Ottawa, IL 61350
      View Details
    • $40,900
      0.27 Acres

      Residential Lot in Pembrook Subdivision

      Residential land in Ottawa, IL, with recreational park access.
      1410 Pembrook Ln, Ottawa, IL 61350
      View Details
    • $65,900
      1.34 Acres

      Wooded Land Opportunity in Ottawa

      Two wooded lots available, ideal for building with walkout basement.
      2970 E 1489Th Rd, Ottawa, IL 61350
      View Details
    • Contact for pricing

      SWC E Stevenson & Burmac Rd Ottawa, IL 61350 USA, Ottawa, IL 61350

      Industrial land
      61350 Usa, Ottawa, IL 61350
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Kroger-Anchored North Ottawa Plaza

      Located off I-80, newly renovated shopping center with retail spaces.
      2709 Columbus St, Ottawa, IL 61350
      View Details
    • $15 SF/Yr

      Retail Space Near Walmart Supercenter

      Retail leasing opportunity with high visibility near I-80.
      333 W Stevenson Rd, Ottawa, IL 61350
      View Details
    • Contact for pricing
      7,200 SF

      Industrial Space with Concrete Pavement

      Industrial property featuring concrete pavement, roll-up doors, and fenced yard.
      200 W Stevenson Rd, Ottawa, IL 61350
      View Details
    • Contact for pricing
      24,394 SF

      Ottawa Commercial Space For Rent

      Commercial flex space available for rent in Ottawa, Illinois.
      1400 Columbus St, Ottawa, IL 61350
      View Details
    • Contact for pricing

      General Office Space Available

      645 SF office space for rent, utilities included.
      1400 Columbus St, Ottawa, IL 61350
      View Details
    • Contact for pricing

      Ottawa Retail Development Opportunity

      Outlots and pad site available for ground lease near Walmart.
      333 W Stevenson Rd, Ottawa, IL 61350
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    315 Mckinley Rd
    Ottawa, IL 61350
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!