$20,000
●
Land -
Off Market
2943 N State Route 71 Highway
Ottawa, IL 61350
Studio
0 Bath
$183
Est. Monthly
About This Property
Discover a promising opportunity with this 0.5-acre parcel located
on IL Highway Route 71, just south of Interstate 80. Previously
home to a residential property, this site is currently zoned for
residential use and strategically neighbors Light Industrial &
Manufacturing properties, situated within both TIF and Enterprise
Zones. The parcel's advantageous zoning and proximity to key
industrial areas offer potential for diverse development options,
from residential projects to mixed-use ventures. With its prime
location and various incentives, this property presents a practical
and versatile investment opportunity. Explore the potential of this
well-positioned parcel and consider the possibilities it holds for
your next project. Contact us to learn more about this understated
yet promising real estate prospect.
Unit Size
-
Days on Market
-
Land Size
0.50 acres
Price per sqft
-
Property Type
Land
Property Taxes
$85
HOA Dues
-
Year Built
1913
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Cap Rate Calculator
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 3 years ago (MRED MLS #12086247)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 22, 2024 | Temporarily off market | - | |
| Temporarily off market | |||
| Aug 20, 2024 | Sold | ||
| Sold | |||
| Jul 9, 2024 | In contract | - | |
| In contract | |||
| Jun 17, 2024 | Listed by RE/MAX Top Properties | $20,000 | |
| Listed by RE/MAX Top Properties | |||
| Jan 4, 2024 | Listed by RE/MAX Top Properties | $28,000 | |
| Listed by RE/MAX Top Properties | |||
| | |||
|
Discover a promising opportunity with this 0.5-acre parcel located on IL Highway Route 71, just south of Interstate 80. Previously home to a residential property, this site is currently zoned for residential use and strategically neighbors Light Industrial & Manufacturing properties, situated within both TIF and Enterprise Zones. The parcel's advantageous zoning and proximity to key industrial areas offer potential for diverse development options, from residential projects to mixed-use ventures. With its prime location and various incentives, this property presents a practical and versatile investment opportunity. Explore the potential of this well-positioned parcel and consider the possibilities it holds for your next project. Contact us to learn more about this understated yet promising real estate prospect.
| |||
Property Highlights
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About LaSalle
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Listed by: David Welter, RE/MAX Top Properties
Last Updated: 3 years ago
Data Source: MRED, MLS# 12086247
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
Last Updated: 3 years ago
Data Source: MRED, MLS# 12086247
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