Courtesy: Give Back Realty
630-561-5989
Excellent opportunity to own a turn-key, well-maintained, fully leased 4-unit apartment building in a quite north Morris neighborhood - just minutes from the I-80/IL-47 interchange, making it a commuter-friendly location for tenants. Built in 1998, this low-maintenance property features four clean and spacious 2-bedroom, 1-bath units with a solid tenant base and minimal turnover. All utilities are paid by tenants. The owner covers only common area electric, gas, and water - keeping overhead very low. Each floor features a coin-operated laundry room, providing additional passive income. Recent improvements include newer water heaters in all units and a new roof in 2017. Central heat and A/C throughout. Positioned in a tight rental market with limited competition for quality workforce housing, the property offers stable cash flow with long-term upside potential-well-suited for first-time investors, experienced owners, or 1031 exchange buyers seeking a reliable addition to their portfolio. With minimal local competition for quality multifamily rentals, the property offers both stability and upside. The current owner has explored converting one or two units into short-term rentals to further boost returns. Morris is a charming and growing town supported by a robust and diverse employer base, thanks in part to the highly effective Grundy County Economic Development Council. Major area employers include Morris Hospital, Constellation, D Construction, Procter & Gamble, Costco (meat processing & distribution), Trader Joe's, Walmart, Grainger, LyondellBasell, PLZ Corp, Kellogg's, and US Cold Storage, among others - making this an extremely strong rental market. Please refer to the "Additional Information" section for a detailed overview of the property and the strong economic growth driving the Morris/Minooka area. Important: Please do not walk the property without prior notice. Showings for qualified buyers only. Broker owned.
Morris is located in Illinois. Morris, Illinois has a population of 14,601. Morris is less family-centric than the surrounding county with 29.97% of the households containing married families with children. The county average for households married with children is 37%.
The median household income in Morris, Illinois is $65,911. The median household income for the surrounding county is $81,764 compared to the national median of $69,021. The median age of people living in Morris is 37.8 years.
The average high temperature in July is 84.5 degrees, with an average low temperature in January of 15.3 degrees. The average rainfall is approximately 37.6 inches per year, with 22.4 inches of snow per year.
