227 W Madison Street Ottawa, IL $ 510,000
227 W Madison Street
$ 510,000
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227 W Madison Street

Ottawa, IL, 61350
$ 510,000
Bedrooms-- Baths-- Sq 6,400

Monthly Estimate*

$ 3,182

227 W Madison Street, Ottawa, IL 61350 - Image 1
227 W Madison Street, Ottawa, IL 61350 - Image 2
227 W Madison Street, Ottawa, IL 61350 - Image 3
227 W Madison Street, Ottawa, IL 61350 - Image 4
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227 W Madison Street, Ottawa, IL 61350 - Image 9

Commercial Property for sale in Ottawa, IL

for $510,000. This 6,400 square foot building was built in 1915 on a lot size of 0.073462.

Attention Owners/Investors, Don't miss out on this 6400 sq ft 2 story building investment opportunity in historical downtown Ottawa and located one block from the courthouse and in the Heart of Strarved Rock Country. The first floor is 3200 sq ft and is currently vacant. Offering lots of large offices, soaring ceilings, conference room, entryway for that perfect greeter. Bathrooms and kitchen all on the first floor. A little elbow grease and some cosmetic work will have potential tenants knocking down the door. The second floor is 3200 sq ft and is fully leased at. After your facelift of the first floor, the building value and income will increase. There is an elevator servicing both first and second floors. The building also has a full basement, half shared by each floor for more storage opportunity. Lower level currently available for rent. Two blocks from Illinois and Fox Rivers. This building has lots of possibilities such as office or possibly apts above a business. Come and check it out today!

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Commercial Active

Price

$ 510,000

Property Type

Commercial

Taxes

$ 11,835

Style

Office

Lot Size

0.073462

Year Built

1915

Town/City

Ottawa

County/Region

La Salle

MLS | Web ID

12471823

Features
General
Cooling Central Air
Zoning COMMR
Year Built 1915
Electric Circuit Breakers
Tenant Pays Other
Stories Count 2
Township Ottawa
Property Subtype Mixed Use
Tax Year 2024
Current Use Office
Gross Income 2432
County LaSalle
Net Operating Income 0
Operating Expense 0
Insurance Expense 0
Property Type Commercial Sale Mixed Use
Status Active
Directions Rt 23 south to Madison St west to property.
City Ottawa
Number Of Units Total 2
MLS Area Danway / Dayton / Naplate / Ottawa / Prairie Cent
Lot Size Square Feet 3200
Tax Annual Amount 11835
Electric Expense 0
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 0
Additional Parcels Y/N N
Standard Status Active
Cap Rate 5.75
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Exterior
Building Area Total 6400
Lot Dimensions 40X80
Frontage Type City Street
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* Excluded Features
List By
Spring Realty

Broker

thegrayteamsells@gmail.com;thegrayteamsells@gmail.com

Email

Affordability Calculator

$4,168
Per Month
76%
24%
0%
Monthly Principal & Interest
$3,182
Monthly Property Taxes
$986
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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THE TIME TO SELL IS NOW! What's my home worth?
Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
9/16/2025$510,000 Listed Price

Map


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227 W Madison Street, Ottawa, IL, 61350 is a Commercial Property for sale at $510,000 with 6,400 sqft and a lot size of 0.073462. 227 W Madison Street was built in 1915. The property's zip code is 61350 which is in Ottawa, IL