$40,000
SOLD FEB 4, 2025

1517 La Salle St Ottawa, IL 61350

1 Bed
1 Bath
1,230 Sq Ft
5,998 Sq Ft Lot

Recently Sold

$33 Per Sq Ft

20% Below List Price

22 Days on Market

Highlights

  • Ranch Style House
  • 1 Car Attached Garage
  • Laundry Room
  • Heated Enclosed Porch
  • Living Room
  • Bathroom on Main Level

About This Home

As of February 2025

Exciting opportunity at the infamous "Rainbow House"! This 1,230 sq. ft. ranch home, bursting with potential, is ready for its next chapter! Featuring 1 bedroom, 1 bathroom, and located just minutes from downtown restaurants and shopping, this property offers incredible flexibility. Whether you're envisioning it as a rental, a starter home, or even a business space (as it has been used before), the possibilities are endless. While the home needs some updates and TLC, its unique charm and prime location make it a diamond in the rough. With a little creativity, you can transform this iconic property into something truly special. Don't miss your chance to bring new life to the "Rainbow House"! Can be purchased as a package with 1507 La Salle (MLS 12257016) for 310,000.

Last Agent to Sell the Property

George Shanley

Coldwell Banker Real Estate Group License #475092481 Listed on: 12/17/2024

Coldwell Banker Real Estate Group

Last Buyer's Agent

George Shanley

Coldwell Banker Real Estate Group License #475092481 Listed on: 12/17/2024

Coldwell Banker Real Estate Group

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,028

Year Built

  • Built in 1911

Lot Details

  • 5,998 Sq Ft Lot
  • Lot Dimensions are 40x150
  • Level Lot

Parking

  • 1 Car Attached Garage
  • Driveway
  • Off-Street Parking
  • Off Alley Parking
  • Parking Included in Price

Home Design

  • Ranch Style House
  • Asphalt Roof
  • Vinyl Siding

Interior Spaces

  • 1,230 Sq Ft Home
  • Family Room
  • Living Room
  • Dining Room
  • Heated Enclosed Porch
  • Unfinished Basement
  • Partial Basement
  • Laundry Room

Flooring

  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Potential Bedroom
  • Bathroom on Main Level
  • 1 Full Bathroom

Schools

  • Jefferson Elementary: K-4Th Grad
  • Shepherd Middle School
  • Ottawa Township High School

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,028

Year Built

Built in 1911

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential
  • Property Type: Detached Single
  • Type Detached: 1 Story
  • Ownership: Fee Simple
  • ArchitecturalStyle: Ranch
  • New Construction: No
  • Property Sub-Type: 1 Story
  • Year Built: 1911
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • Disability Access and/or Equipped: No
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Basement: Partial
  • Full Bathrooms: 1
  • Total Bathrooms: 1
  • Total Bedrooms: 1
  • Interior Amenities: First Floor Bedroom, First Floor Full Bath
  • LivingArea: 1230
  • Room Type: Other Room, Enclosed Porch Heated
  • Estimated Total Finished Sq Ft: 1230
  • Assessed Sq Ft: 684
  • Basement Description: Unfinished
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Total Sq Ft: 1230
  • Square Footage Comments: All information deemed highly reliable but not guaranteed, buyer to verify all information.
  • Total Sq Ft: 1230
  • Main Level Sq Ft: 1230
  • Flooring: Wood Laminate
  • ResoLivingAreaSource: Appraiser

Exterior Features

  • List Price: 50000
  • Lot Features: Level
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding

Garage/Parking

  • Garage Spaces: 1
  • Parking Features: Off Alley, Off Street
  • ParkingTotal: 3
  • Driveway: Concrete
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Attached
  • Parking: Garage,Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air
  • Electric: Circuit Breakers
  • Heating: Natural Gas, Forced Air
  • Water Source: Public

Condo/Co-op/Association

  • Association Fee Frequency: Not Applicable
  • Master Association Fee: No
  • Master Association Fee Frequency: Not Required

Fee Information

  • Association Fee Includes: None

Schools

  • Elementary School: Jefferson Elementary: K-4th Grad
  • High School: Ottawa Township High School
  • Middle/Junior School: Shepherd Middle School
  • Middle/Junior School District: 141
  • Elementary School #2: CENTRAL ELEMENTARY: 5TH AND 6TH GRADE

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.1377
  • Lot Dimensions: 40X150
  • Rural (Y/N): N
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N
  • Zero Lot Line: No

Rental Info

  • Board Number: 10
  • Is Parking Included in Price: Yes

Tax Info

  • Tax Annual Amount: 2027.84
  • Tax Year: 2023
  • Tax Exemptions: None

MLS Schools

  • Other Public Sch Dist: 513
  • Othr Public Sch: IVCC

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 17, 2024
Closed on
Feb 4, 2025
Sold by
Orr Carrie and Michael Carretto Last Will & Testament Michae
Bought by
Rosencrans Rod
Seller's Agent
George Shanley
Coldwell Banker Real Estate Group
Buyer's Agent
George Shanley
Coldwell Banker Real Estate Group
List Price
$50,000
Sold Price
$40,000
Premium/Discount to List
-$10,000
-20%
Views
83
Current Estimated Value
$65,882

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$25,882
Avg. Annual Appreciation
108.30%

Purchase Details

Listed on
Nov 16, 2017
Closed on
Nov 29, 2017
Sold by
Illinois Brothers Country Supply Inc
Bought by
Carretto Michael
Seller's Agent
Mary Eichelkraut
Lloyd Chapman Realty Co.
Buyer's Agent
Mary Eichelkraut
Lloyd Chapman Realty Co.
List Price
$69,900
Sold Price
$45,000
Premium/Discount to List
-$24,900
-35.62%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-1.62%

Purchase Details

Listed on
Sep 18, 2013
Closed on
Jan 8, 2014
Sold by
Chapman Gina and Liebe Rose M
Bought by
Brothers Country Supply Of Illinois Inc
Seller's Agent
George Shanley
Coldwell Banker Real Estate Group
Buyer's Agent
Mary Eichelkraut
Lloyd Chapman Realty Co.
List Price
$39,900
Sold Price
$33,500
Premium/Discount to List
-$6,400
-16.04%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.86%
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Executors Deed $40,000 None Available
Deed $45,000 --
Executors Deed $33,500 None Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
02/04/2025 02/04/25 Sold $40,000 -20.0% $33 / Sq Ft
01/08/2025 01/08/25 Pending -- -- --
01/03/2025 01/03/25 For Sale $50,000 0.0% $41 / Sq Ft
12/24/2024 12/24/24 Pending -- -- --
12/17/2024 12/17/24 For Sale $50,000 +11.1% $41 / Sq Ft
03/01/2018 03/01/18 Off Market $45,000 -- --
11/30/2017 11/30/17 Sold $45,000 -35.6% $52 / Sq Ft View Prior Sale
11/21/2017 11/21/17 Pending -- -- --
11/16/2017 11/16/17 For Sale $69,900 +108.7% $81 / Sq Ft
01/08/2014 01/08/14 Sold $33,500 -16.0% $39 / Sq Ft View Prior Sale
12/20/2013 12/20/13 Pending -- -- --
10/24/2013 10/24/13 Price Changed $39,900 0.0% $46 / Sq Ft
10/24/2013 10/24/13 For Sale $39,900 -5.0% $46 / Sq Ft
10/14/2013 10/14/13 Pending -- -- --
09/18/2013 09/18/13 For Sale $42,000 -- $49 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $2,215 $21,511 $5,506 $16,005
2023 $2,028 $19,253 $4,928 $14,325
2022 $1,866 $17,474 $5,903 $11,571
2021 $1,761 $16,378 $5,533 $10,845
2020 $1,664 $15,558 $5,256 $10,302
2019 $1,704 $15,399 $5,202 $10,197
2018 $1,661 $15,029 $5,077 $9,952
2017 $1,852 $16,818 $4,921 $11,897
2016 $1,779 $16,097 $4,710 $11,387
2015 $1,691 $15,355 $4,493 $10,862
2012 -- $16,787 $4,913 $11,874
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12257659

Midwest Real Estate Data (MRED)

APN: 21-02-424004