P
Seller's Agent in 2022
Phil Makarewicz
RE/MAX
301-305 W Main St Ottawa, IL 61350
13
Beds
16
Baths
12,600
Sq Ft
6,302
Sq Ft Lot
Highlights
- Water Views
- Corner Lot
- 3-minute walk to Vietnam Veteran's Plaza
- Property is near a park
- Forced Air Heating System
About This Home
As of August 2022Rare opportunity to own part of history in downtown Ottawa in this 12,600sf 3 story building with Illinois River views composed of 16 units with 4 ground units used for retail/restaurant and 2nd/3rd floor composed of 12 residential units. Currently grossing $105,000 per year with under market rents, this building holds tremendous future value with an upcoming approx. 35million investment going in south of building composed of upcoming YMCA(approx. 25mil) and Ottawa Riverfront development(approx. 10mil). 11 of the 12 apartments are 1 bed, 1 bath, and one with 2bed, 1bath. Tenant pays all utilities except water, sewer, and gas for hot water heaters. Apartments are all electric heating, lower commercial units are equipped with forced air heating & A/C. NEW roof is in the works. DO NOT DISTURB TENANTS. Click the virtual tour link to view property in 3D.
Last Agent to Sell the Property
Phil Makarewicz
RE/MAX 1st Choice License #475138878 Listed on: 04/20/2022
Last Buyer's Agent
Non Member
NON MEMBER
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,696
Year Built
- Built in 1885
Lot Details
- 6,302 Sq Ft Lot
- Lot Dimensions are 60x100
- Corner Lot
Home Design
- Mixed Use
- Brick Exterior Construction
- Brick Foundation
Interior Spaces
- 12,600 Sq Ft Home
- 3-Story Property
- Water Views
- Unfinished Basement
Bedrooms and Bathrooms
- 13 Bedrooms
- 16 Bathrooms
Location
- Property is near a park
Utilities
- Partial Air Conditioning Available
- Window Unit Cooling System
- Forced Air Heating System
- Heating System Uses Gas
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 16 Units
Building Details
- Electric Expense $1,112
- Insurance Expense $4,424
- Water Sewer Expense $2,400
- Operating Expense $22,439
- Gross Income $105,000
- Net Operating Income $82,561
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 20, 2022
Closed on
Aug 1, 2022
Sold by
Grundy Bank
Bought by
Greener Properties Llc
Seller's Agent
Phil Makarewicz
RE/MAX 1st Choice
Buyer's Agent
Non Member
NON MEMBER
List Price
$950,000
Sold Price
$825,000
Premium/Discount to List
-$125,000
-13.16%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$660,000
Outstanding Balance
$629,667
Interest Rate
5.25%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 29, 2011
Sold by
Zenke Mark and Zenke Roshanna
Bought by
Grundy Bank
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Greener Properties Llc | $825,000 | None Available | |
| Grundy Bank | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Greener Properties Llc | $660,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/01/2022 08/01/22 | Sold | $825,000 | -13.2% | $65 / Sq Ft |
| 05/17/2022 05/17/22 | Pending | -- | -- | -- |
| 04/20/2022 04/20/22 | For Sale | $950,000 | -- | $75 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
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 | $23,342 | $226,654 | $18,754 | $207,900 |
| 2023 | $23,872 | $226,654 | $18,754 | $207,900 |
| 2022 | $10,677 | $100,000 | $18,754 | $81,246 |
| 2021 | $10,752 | $100,000 | $18,754 | $81,246 |
| 2020 | $10,696 | $100,000 | $18,754 | $81,246 |
| 2019 | $11,064 | $100,000 | $18,754 | $81,246 |
| 2018 | $11,052 | $100,000 | $18,754 | $81,246 |
| 2017 | $11,011 | $100,000 | $18,754 | $81,246 |
| 2016 | $11,051 | $100,000 | $18,754 | $81,246 |
| 2015 | $5,506 | $100,000 | $18,754 | $81,246 |
| 2012 | -- | $100,000 | $18,754 | $81,246 |
Source: Public Records
Agents Affiliated with this Home
-
-
N
Buyer's Agent in 2022
Non Member
NON MEMBER
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11379698
APN: 21-11-406006
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