Canal Quarters at Heritage Harbor Resort Multi-Family FOR SALE


Ottawa, IL
$4,650,000 USD
815-403-7185
, Ottawa, IL for Sale
$4,650,000 USD
Multi-Family - FOR SALE
1/27
null | 4.25% Cap Rate

Canal Quarters at Heritage Harbor Resort
Ottawa, IL


HIGHLIGHTS

  • *Dividable* 16-unit portfolio across four newer (2023) buildings, each on its own parcel with separate utilities and low-maintenance construction
  • Proven income stream with ~$315K annual gross revenue and additional upside through occupancy optimization and operational efficiencies
  • Located within Heritage Harbor Resort, a growing waterfront destination near Starved Rock State Park with ongoing investment and future development

OVERVIEW

**Willing to divide portfolio** Exceptional opportunity to acquire a 16-unit portfolio comprised of four newer four-unit buildings, each situated on its own separate lot and PIN within Heritage Harbor in Ottawa, Illinois. Built in 2023, these properties offer modern construction with durable, low-maintenance materials designed for efficient ownership and long-term performance. All units are fully furnished and turnkey, with each unit individually metered for utilities-supporting clean operations and flexible rental management. The buildings are well-positioned to serve a range of rental uses, including short-term vacation stays, weekend getaways, group accommodations, corporate housing, and longer-term tenancy. Thoughtful design elements such as inviting front porches and convenient rear parking enhance the overall guest and resident experience, while two of the buildings capture attractive water and sunset views. Located within Heritage Harbor, a growing marina resort community along the Illinois River, the portfolio benefits from a setting designed around lifestyle and recreation. Owners and guests enjoy access to amenities including a pool, fire pits, activity cabins, open green space, marina access, boat rentals, and on-site dining and entertainment. Ongoing investment and expansion within the resort continue to increase visibility, traffic, and overall appeal. On-site management through Harbor Inn supports consistent operations, while The Vue, a new 250-person event venue opening Fall 2026, reflects continued investment in the growth and evolution of the community. Beyond the resort itself, the property is positioned within the Starved Rock region-one of Illinois' most visited outdoor destinations. Located approximately 90 minutes from Chicago, the area draws consistent tourism with four state parks within a 15-minute drive, including Starved Rock State Park, known as the most visited state park in Illinois. The combination of natural beauty, recreation, and proximity to a major metro area supports year-round appeal. With scale, modern construction, and a location embedded within both a destination resort and a high-traffic tourism corridor, this portfolio presents a compelling opportunity for investors seeking stable income today with the ability to further refine and evolve the asset over time.

ASK ABOUT THIS PROPERTY

Jacob ValleHeritage Select RealtyMore Info
815-403-7185

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Jacob ValleHeritage Select RealtyMore Info
815-403-7185

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