Address
513/517 Michael Drive # 513, Morris, IL
Price
$ 289,500
Property Attributes
  • MLS#11875775
  • TypeCommercial
  • CountyGRUNDY
  • CityMorris
  • AreaMorris
  • NeighborhoodLisbon North
  • Zip60450
  • StyleCommercial
  • Year Built1966
  • Taxes$ 4187
  • Price$ 289,500
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage2080
  • Lot Size5,478 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description

This brick and vinyl commercial building is highly visible from a signaled intersection on busy west Rt.6 in Morris. This property has been owned by the seller for 31 years. It is fully depreciated so it is time for the next investor to add it to their portfolio. This attractive building has two commercial units on the first floor leased by a beauty salon and a construction company. The entire second floor is a two bedroom apartment, in very good condition, with a deck that overlooks green space. The appliances in the apartment are included in the sale. The parking lot is striped for 8 spaces. This building has been well maintained and features newer vinyl windows, a high efficiency boiler that is 6 years old, a water heater installed March 2023, and many other recent improvements. Apartment tenant and beauty shop tenant have leases in place. This is your chance to own a three unit income producing property in a great location in Morris!

Price History
9/2/2023 Listed $329,000
11/1/2023 5% - $314,900
3/8/2024 9% - $289,500

General Features

Cooling Window Unit(s)
Utilities Electric to Site,Gas to Site,Sanitary Sewer,Water-Municipal
Possession Tenant's Rights
Roof Composition
Zoning COMMR
Construction Materials Brick,Block
Year Built 1966
Electric Service - 101 to 200 Amps
Stories 2
Township Saratoga
Unit Number 513
Property SubType Mixed Use
Tax Year 2022
Current Use Commercial
Gross Income 30000
County Grundy
Insurance Expense 1800
Property Type Commercial Sale
Status Active
Directions I-80 to RT.47 south to Rt.6 west to Michael Dr. north to property on left. Can easily be seen from the intersection of Rt.6 and Michael Drive.
City Morris
Total Units 3
MLS Area Morris
Lot Size Square Feet 5478
Street Name Michael
Tax Annual Amount 4187.52
Electric Expense 1200
Fuel Expense 1200
Water Sewer Expense 1620
Additional Parcels Y/N No
Days on Market 238
Standard Status Active
Property Type Mixed Use
Total Actual Rent 2500

Interior Features

Flooring Carpet,Tile,Varies
Street Suffix Drive

Exterior Features

Building Area Total 2080
Lot Dimensions 84X66
Exterior Vinyl Siding,Brick

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 60450

Price
AVG $310K
$290K
Taxes
AVG $16,729
$4,187
Visits
AVG 55
67
Data Provided by Inside Real Estate®
Year Built
AVG 1943
1966

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