316/318 Liberty St Morris, IL 60450
- Specialty properties
- 15,000 SF
Current Use by Public Records
- Specialty properties
Property Details for 316/318 Liberty St
- Property size
- 15,000 SF
- Property type
- Specialty properties
- Property subtype
- Land
Description
This exceptional investment opportunity presents the Gebhard Building, a meticulously maintained landmark in Morris, Illinois' vibrant downtown historic district. Built in 1885, this three-story, 15,000 square foot property boasts a rich history and a prime location. Currently housing a diverse mix of seven commercial/office spaces and six residential apartments, the building offers established rental income and flexible use potential. Long-term tenants contribute to a reliable cash flow stream, making this an attractive proposition for investors seeking a stable return. Recent updates have preserved the building's architectural integrity while enhancing its functionality, ensuring it remains a desirable location for both businesses and residents. Situated amidst bustling shops, restaurants, and community events, the Gebhard Building offers a unique blend of historical charm and modern practicality. The property's size and diverse tenant base provide significant upside potential for future growth and development. This is a rare chance to acquire a piece of Morris' history and capitalize on its thriving downtown area. The asking price is $980,000. The property is classified as Special Purpose Land and is located at 316/318 Liberty St, Morris, IL 60450.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Morris
- County
- Grundy
- State
- Illinois
- Longitude
- -88.4242
- Latitude
- 41.3588
