Log In/Sign Up
Your email has been sent.
Canal Quarters at Heritage Harbor Resort 4 Multifamily Properties Offered at $4,650,000 in Ottawa, IL



Investment Highlights
- *Dividable* 16-unit portfolio across four newer (2023) buildings, each on its own parcel with separate utilities and low-maintenance construction
- Located within Heritage Harbor Resort, a growing waterfront destination near Starved Rock State Park with ongoing investment and future development
- Proven income stream with ~$315K annual gross revenue and additional upside through occupancy optimization and operational efficiencies
Executive Summary
**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.
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.
Data Room Click Here to Access
Taxes & Operating Expenses (Actual - 2025) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
| Price | $4,650,000 | Status | Active |
| Price / SF | $364.42 / SF | Number of Properties | 4 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 4.25% | Total Building Size | 12,760 SF |
| Sale Type | Investment | Total Land Area | 0.26 AC |
| Price | $4,650,000 |
| Price / SF | $364.42 / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 4.25% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 12,760 SF |
| Total Land Area | 0.26 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 200 Great Lp dr, Ottawa, IL 61350 | Multifamily | 3,480 SF | 2023 | - |
| 202 Great Lp dr, Ottawa, IL 61350 | Multifamily | 3,480 SF | 2023 | - |
| 212 Great Lp Dr, Ottawa, IL 61350 | Multifamily | 3,480 SF | 2023 | - |
| 214 Great Lp dr, Ottawa, IL 61350 | Multifamily | 2,320 SF | 2023 | - |
1 1
1 of 27
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Contact the Sale Advisor
Canal Quarters at Heritage Harbor Resort
