1201-1217 Illinois Ave - Apartments FOR SALE


Ottawa, IL 61350
$850,000 USD
815-228-1859

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$850,000 USD
Apartments - FOR SALE
null | Request Cap Rate

1201-1217 Illinois Ave
Ottawa, IL 61350


HIGHLIGHTS

  • Historic 7-unit brick building at the corner of Illinois Avenue and Leland Avenue in Ottawa.
  • Long-term tenants provide stable rental income.
  • New rubber roof installed in 2017, the units showcase pride of ownership and meticulous maintenance.
  • 3 two-bedroom units and 4 one-bedroom units, each with private front and back entrances.
  • Original hardwood floors, natural woodwork, and vintage chandeliers in some units.
  • Dedicated covered parking for each unit, with additional off-street parking available; partial basement includes individual storage bays and shared la

OVERVIEW

Attention Investors! If you value quality construction and exceptional maintenance, this is your chance to own a historic Ottawa landmark. Located at the corner of Illinois Avenue and Leland Avenue, this 7-unit brick residence offers both charm and investment appeal. Pride of ownership is evident, with a new rubber roof installed in 2017 and a meticulously maintained building. Many long-term tenants have made this their home, adding stability to your investment. The property features 3 two-bedroom units and 4 one-bedroom units, each with a dedicated covered parking space and additional off-street parking. Each unit also features private front and back entrances, natural woodwork, original hardwood floors, and some even still have their original, vintage chandeliers. Tenants enjoy access to a partial basement with individual storage bays and shared laundry facilities. For added security, the back courtyard is equipped with dusk-to-dawn and motion sensor lighting. Units are heated with hot water heat. Don't miss this rare investment opportunity to own a well-maintained brick building with amazing tenants!

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$126 USD /SF

# OF UNITS

7

PRICE/UNIT

$121,429

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Thrush Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1966

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,500 SF

ZONING

-

APN/PARCEL ID

21-10-427011

ASK ABOUT THIS PROPERTY

George ShanleyColdwell BankerMore Info
815-228-1859

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George ShanleyColdwell BankerMore Info
815-228-1859

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.