310/312 Liberty St Morris, IL 60450
Very well maintained and total recent rehab of these two centrally located downtown Morris buildings on Liberty Street. Presently one PIN but could be separated after purchase. Currently used for food and beverage operation. Business is not included. There are kitchens in the back of both buildings and all equipment remains. 310 building includes retail space on the main floor in front and separate rented kitchen in the rear. The second floor has two additional rental spaces. One with additional ground floor exterior access. 312 building features a bar and dining area on both floors, his & her bathrooms on both floors and an additional party room on the second floor. Current use on the main floor is a very popular coffee shop. First floor features full kitchen as an additional separate rental space. Second floor also has exterior access. Finishing this building is a completely finished basement featuring walk-in coolers, freezers and dry storage. Additional kitchen prep space also. Different design elements throughout the building, such as stone fireplace, brick walls extensive use of corrugated steel and chain link fencing for a unique design feature. One of the only downtown buildings which features elevator access between floors. Current tenant would like to remain if possible.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.