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    316/318 Liberty St Morris, IL 60450

    For Sale
    $980,000

    15,000 sq ft Mixed-Use Building

    Property size:
    15,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    The Gebhard Building, a stunning example of 1885 architecture, presents a rare investment opportunity in the heart of Morris, IL's historic downtown district. This three-story, 15,000 square foot mixed-use property boasts a blend of historic charm and modern functionality. Originally constructed by Louis Gerhard, founder of the Gerhard Brewery, the building stands as a testament to the town's rich history. Currently, the building houses a diverse tenant mix, including seven commercial and office spaces, and six residential apartments, all generating consistent rental income. The long-term tenants ensure a stable cash flow, making this an attractive investment for those seeking a reliable return. Recent updates have been implemented to maintain the building's architectural integrity while enhancing its functionality and appeal. The property's prime location within Morris' vibrant downtown area, surrounded by thriving shops, restaurants, and community events, guarantees high visibility and accessibility. The flexible use potential allows for a variety of income-generating strategies, catering to retail, office, or residential needs. This is an exceptional opportunity to acquire a historically significant property with established tenants in a thriving community, offering both financial stability and a piece of Morris' legacy. The building's size and diverse tenant base provide a strong foundation for future growth and potential appreciation.

    Property Features for 316/318 Liberty St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    15,000 SF

    Building Details

    Year Built
    1885
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morris
    County
    Grundy
    State
    Illinois
    Longitude
    -88.4113
    Latitude
    41.3744

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    FAQs

    What type of property is this?
    Mixed-use property - 15,000 sq ft Mixed-Use Building
    Where is this mixed-use property located?
    The property is located at 316/318 Liberty St Morris, IL.
    What is the asking price?
    The asking price for this property is $980,000.
    (815) 942-9190
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    316/318 Liberty St Morris, IL 60450
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    Morris, IL 60450
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    Realmo Value Estimation

    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.

    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.

    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
    316/318 Liberty St Morris, IL 60450
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