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Thrush Apartments 1201-1217 Illinois Ave 7 Unit Apartment Building $1,121,604 CAD ($160,229 CAD/Unit) Ottawa, IL 61350

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INVESTMENT HIGHLIGHTS

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

EXECUTIVE SUMMARY

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!

FINANCIAL SUMMARY (ACTUAL - 2023)

ANNUAL (CAD) ANNUAL PER SF (CAD)
Gross Rental Income $80,903 $12.03
Other Income - -
Vacancy Loss - -
Effective Gross Income $80,903 $12.03
Taxes $8,929 $1.33
Operating Expenses - -
Total Expenses $8,929 $1.33
Net Operating Income - -

FINANCIAL SUMMARY (ACTUAL - 2023)

Gross Rental Income (CAD)
Annual $80,903
Annual Per SF $12.03
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $80,903
Annual Per SF $12.03
Taxes (CAD)
Annual $8,929
Annual Per SF $1.33
Operating Expenses (CAD)
Annual -
Annual Per SF -
Total Expenses (CAD)
Annual $8,929
Annual Per SF $1.33
Net Operating Income (CAD)
Annual -
Annual Per SF -

PROPERTY FACTS Under Contract

Price $1,121,604 CAD
Price Per Unit $160,229 CAD
Sale Type Investment
No. Units 7
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 0.52 AC
Building Size 6,724 SF
Average Occupancy 100%
No. Stories 1
Year Built 1966
Parking Ratio 1.04/1,000 SF

AMENITIES

UNIT AMENITIES

  • Heating
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Range
  • Dining Room

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 4 $1,092 CAD 754 - 758
2+1 3 $1,243 CAD 525 - 672

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
21-10-427011
Land Assessment
$24,716 CAD (2024)
Improvements Assessment
$59,939 CAD (2024)
Total Assessment
$84,655 CAD (2024)
Annual Taxes
$8,929 CAD ($1.33 CAD/SF)
Tax Year
2023
  • Listing ID: 33380250

  • Date on Market: 2024-10-02

  • Last Updated:

  • Address: 1201-1217 Illinois Ave, Ottawa, IL 61350

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