Mixed-Use Multifamily with
1015 douglas Street E Morris, IL 60450
For Sale
$600,000
MULTI_FAMILY - Morris, IL
Property Size2,400 SF
Price / SF$250
Days on Market49
Property Features for 1015 douglas Street E
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- COMMR
- Bedrooms
- 11
- Bathrooms
- 6
- Rooms
- Bedroom 8, Bedroom 9, Bathroom 4, Bedroom 2, Bathroom 5, Bedroom 1, Bedroom 10, Bedroom 11, Bedroom 6, Bedroom 3, Bedroom 4, Bathroom 6, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 7, Bathroom 1
- Standard status
- Active
- APN
- 0503405004
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 5353
Utilities
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1950
- Floors in Building
- 2
- Number of units
- 5
- Building materials
- Wood
Listing Agency:
Crosstown REALTORS Inc
(815) 249-1018
Listed By:
Karen Robertson · License #471002185
(708) 949-4379
Added: Jun 8
Changed: Jul 13
Last Checked: Jul 26 at 6:06PM
MLS# 12632988
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.
Investment Insights
Based on property information with market context.
This for-sale property in Morris, IL includes five income-producing apartments along with a large storage garage with approximately 2,400 square feet. The storage space has overhead doors in front and back for easy in-and-out access, plus a side entry. The building is currently fully rented.
The main level features a refreshed 1-bedroom, 1-bath unit (Apt 5), described as the former shop office, with utilities included in the rent and electric baseboard heat. Upstairs, there is another 1-bedroom, 1-bath residence (Apt 4) with utilities included in the rent and electric baseboard heat. Also upstairs are two additional 3-bedroom, 1-bath units (Apts 1 and 2) where tenants pay for electric and gas forced air heat, along with one 3-bedroom, 2-bath unit (Apt 3) where the tenant pays for gas forced air heat.
The owner pays water/sewer/dumpster expenses averaging $660 per month, along with electric for common areas and the units described as Apts 3, 4, and 5. The property is listed under zoning labeled COMMR.
The main level features a refreshed 1-bedroom, 1-bath unit (Apt 5), described as the former shop office, with utilities included in the rent and electric baseboard heat. Upstairs, there is another 1-bedroom, 1-bath residence (Apt 4) with utilities included in the rent and electric baseboard heat. Also upstairs are two additional 3-bedroom, 1-bath units (Apts 1 and 2) where tenants pay for electric and gas forced air heat, along with one 3-bedroom, 2-bath unit (Apt 3) where the tenant pays for gas forced air heat.
The owner pays water/sewer/dumpster expenses averaging $660 per month, along with electric for common areas and the units described as Apts 3, 4, and 5. The property is listed under zoning labeled COMMR.
Key Highlights
- 5 income‑producing apartments in Morris, currently fully rented
- Includes a large storage garage (~2,400 SF) for cars, boats, RVs, jet skis, and motorcycles, with overhead doors front and back plus a side entry
- Main level: refreshed 1 bed/1 bath apartment (Apt 5), formerly shop office, with utilities included and electric baseboard heat
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.4k | $22.68 |
| − Vacancy | −$3.8k | −$1.59 |
| EGI | $50.6k | $21.09 |
| − OpEx | −$22.8k | −$9.49 |
| NOI | $27.8k | $11.60 |
2,400 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$397.7K
$348.0K – $464.0K
NOI $27,842 @ 7.0% cap · market cap 4.64%
Second Best
Self Storage
$320.7K
$280.6K – $374.2K
NOI $22,450 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$828.6K
$725.0K – $966.7K
NOI $58,003 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Self storage facilities
FAQs
What type of property is this?
Apartment building - Fully rented multifamily property includes multiple apartments plus a storage garage with overhead doors at both ends.
Where is this apartment building located?
The property is located at 1015 douglas Street E Morris, IL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 5 income‑producing apartments in Morris, currently fully rented; Includes a large storage garage (~2,400 SF) for cars, boats, RVs, jet skis, and motorcycles, with overhead doors front and back plus a side entry; Main level: refreshed 1 bed/1 bath apartment (Apt 5), formerly shop office, with utilities included and electric baseboard heat
