316/318 Liberty St Morris, IL 60450
- Mixed-use properties
- 15,000 SF
Current Use by Public Records
- Mixed-use properties
Property Details for 316/318 Liberty St
- Year built
- 1885
- Property size
- 15,000 SF
- Property type
- Mixed-use properties
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Morris
- County
- Grundy
- State
- Illinois
- Longitude
- -88.4113
- Latitude
- 41.3744
