227 W Madison Street Ottawa, IL $ 499,900
227 W Madison Street
$ 499,900
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227 W Madison Street

Ottawa, IL, 61350
$ 499,900
Bedrooms-- Baths-- Sq 6,400
227 W Madison Street, Ottawa, IL 61350 - Image 1
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Property for Rent in Ottawa, IL

for $499,900. This 6,400 square foot property 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. If interested in leasing, Owner will consider a buildout. 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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Rental Active

Price

$ 499,900

Taxes

$ 11,528

Style

Office

Lot Size

0.073462

Year Built

1915

Town/City

Ottawa

County/Region

La Salle

MLS | Web ID

12800525

Features
General
Cooling Central Air
Zoning COMMR
Year Built 1915
Electric Circuit Breakers
Tenant Pays Other
Stories Count 2
Township Ottawa
Property Subtype Office
Tax Year 2024
Current Use Office
Gross Income 2432
County LaSalle
Net Operating Income 0
Operating Expense 0
Property Type Commercial Sale Office/Tech
Status New
Directions Rt 23 south to Madison St west to property.
City Ottawa
Number Of Units Total 2
MLS Area Danway / Dayton / Naplate / Ottawa / Prairie Center
Lot Size Square Feet 3200
Tax Annual Amount 11528
Additional Parcels Y/N N
Leasable Area 3200
Lease Type Net
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

Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
11/3/2026$499,900 Listed Price

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227 W Madison Street, Ottawa, IL, 61350 is a Property for Rent at $499,900 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