Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1.88 Acres Road Morris, IL 60450

    View on Map
    For Sale
    $285,000

    LAND - Morris, IL

    Lot size:
    1.88 Acres
    Added:
    Jan 26, 2026
    Days on Market:
    65
    Last Refresh:
    Apr 1 at 6:06 am

    Property Features for 1.88 Acres Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    INDUS
    Standard status
    Active
    APN
    0224100005
    Lot size
    1.88 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    895

    We can help!

    Listing Contact
    Laura Tomsa

    Listing agent Laura Tomsa License #471016446

    Listing office Brummel Properties, Inc. 58 Chicago Road, Oswego, IL

    Listing date Jan 26, 2026

    MLS# 12555399

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Industrial Land in Growing Area

    This 1.88-acre industrial site is located in unincorporated Grundy County and has a Morris mailing address. Zoned for industrial use, the property is suitable for various commercial ventures. The location provides easy access to major roadways. Buyers will need to install a private well and septic system, as public water and sewer lines are currently not available nearby. Electric service is nearby or at the street. The availability of natural gas in the vicinity is being explored. The property is offered As-Is. This lot presents an opportunity in a bustling area poised for development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Industrial land

    Map

    City
    Morris
    County
    Grundy
    State
    Illinois
    Longitude
    -88.4715
    Latitude
    41.3973

    Nearby Similar for Sale

    • $490,000

      Downtown Morris Commercial Opportunity

      Two buildings combined, approximately 14,000 sq ft in great location.
      110-112 W WASHINGTON Street, Morris, IL 60450
      View Details
    • $649,900

      Commercial Land on Route 47

      Commercial land with visibility on Route 47 and Route 80.
      Gore Road, Morris, IL 60450
      View Details
    • $130,000

      Land For Sale, Morris, IL

      Commercial land available in Morris, Illinois.
      523 Bedford Road, Morris, IL 60450
      View Details
    • $125,000

      Goose Lake Township Land Parcel

      5+ acre parcel in Goose Lake Township, Morris, IL.
      0001 N Dresden Road, Morris, IL 60450
      View Details
    • $550,000

      Versatile Building on Large Lot

      Former medical office with ample parking and excellent visibility.
      1561 N Division Street, Morris, IL 60450
      View Details
    • $125,000

      Goose Lake Township Land Parcel

      5+ acre parcel in Goose Lake Township, Morris, IL.
      N Dresden Road, Morris, IL 60450
      View Details
    • $159,900

      Secluded Wooded Lot for Hunting

      3-acre wooded lot ideal for hunting and building.
      Winterbottom Road, Morris, IL 60450
      View Details
    • $349,900

      Two-Unit Property in Morris, IL

      Two-unit property with separate basements and garages in Morris.
      1605-1607 Schubert Drive, Morris, IL 60450
      View Details
    • $55,000

      Golf Course Lot Ready

      Over 1/2 acre golf course lot for custom home.
      3865 W Nettle Creek Drive, Morris, IL 60450
      View Details
    • $47,900

      Waterfront Lot in Hidden Lakes

      Nearly 3/4 acre waterfront lot in established Hidden Lakes.
      1859 Erin Lane, Morris, IL 60450
      View Details
    • $80,000

      Residential Land in Morris, Illinois

      Residential land available in Morris, Illinois.
      3900 W Nettle Creek Drive lot: 65, Morris, IL 60450
      View Details
    • $350,000

      Waterfront Land in Morris, Illinois

      Estate lots for dream home with private boat ramp.
      Heron Lake Court lot: 3, Morris, IL 60450
      View Details

    FAQs

    What type of property is this?
    Industrial land - 1.88-acre industrial site in Grundy County with Morris address.
    Where is this industrial land located?
    The property is located at 1.88 Acres Road Morris, IL.
    What is the asking price?
    The asking price for this property is $285,000.
    What are key features of this property?
    This property features: 1.88‑acre industrial site, providing ample space for operations.; Zoned for industrial use, allowing for a diverse range of business activities.; Strategic location with easy access to major roadways, enhancing visibility and connectivity.
    (630) 551-8005
    We can help!
    Listing Contact
    Laura Tomsa
    Real Estate License ID: 471016446
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!