316-318 Liberty Street

Morris, IL 60450

$980,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

The Gebhard Building - A Historic Gem in Downtown Morris, IL! Built in 1885 by Louis Gerhard, founder of Gerhard Brewery, the Gebhard Building is a timeless landmark located in the heart of the Morris Downtown Historic District. Spanning approximately 15,000 square feet across three floors, this property blends historic charm with modern amenities, making it an excellent investment opportunity. The building features a diverse mix of long-term tenants, including 7 commercial and office spaces and...The Gebhard Building - A Historic Gem in Downtown Morris, IL! Built in 1885 by Louis Gerhard, founder of Gerhard Brewery, the Gebhard Building is a timeless landmark located in the heart of the Morris Downtown Historic District. Spanning approximately 15,000 square feet across three floors, this property blends historic charm with modern amenities, making it an excellent investment opportunity. The building features a diverse mix of long-term tenants, including 7 commercial and office spaces and 6 residential apartments. It offers flexible use potential, making it ideal for retail, office, or residential rental income. Recent updates ensure the building is well-maintained, preserving its architectural integrity while enhancing functionality. With a prime location in Morris' vibrant downtown, known for its bustling shops, restaurants, and events, the Gebhard Building presents a unique chance to own a piece of local history with reliable cash flow potential. This is a rare opportunity for investors or business owners seeking a historically significant property with established tenants in a thriving community.
  1. Listed by Tom Wawczak • Century 21 Coleman-Hornsby

Property Details for 316-318 Liberty Street

Area
Morris
Township
Morris
Zoning
COMMR
LISTING UPDATED: 10/31/2024 12:06 AM

Property Details for 316-318 Liberty Street

StatusActive
MLS #12191549
Days on Market23
Taxes$12,031 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1885
Lot Size0.15 AC / 6,600 SF
CountyGrundy County

Building Information for 316-318 Liberty Street

Stories3Residences12Year Built1885Lot Size0.15 AC / 6,600 SF

Property Information for 316-318 Liberty Street

General Information
Location and General Information
  • Frontage Type: City Street
  • Geographic Locale: Southwest Suburban
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air, Window Unit(s)
  • Electric: Circuit Breakers
  • Flooring: Varies
  • # Of Washers: 1
  • Heat/Ventilation: Electric,Forced Air,Gas,Wall Unit
  • # Of Refrigerators: 6
  • Misc Inside: Private Restroom/s,Public Restroom/s
  • # Of Dryers: 1
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 6
Utilities / Equipment
  • Utilities: Electric to Site, Gas to Site
Property/Lot Information
  • Owners Association: No
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 60X110
  • Lot Size Square Feet: 6600.0
  • Stories: 3
  • Exterior Building Type: Brick, Frame, Block, Stone
  • Construction: Brick, Concrete, Stone, Wood Frame
  • Fire Protection: Fire Extinguisher/s,Carbon Monoxide Detector(s)
  • Foundation Details: Concrete Perimeter, Stone
  • Building Area Total: 15000
  • # Of Offices: 5
  • # Of Ranges: 5
  • # Of Stores: 1
  • Property Sub Type: Mixed Use
  • MRD_UNC: No
Property and Assessments
  • Buyer Financing: Conventional
  • Documents Available: Rent Roll,Leases,Floor Plan
  • Public Document Count: 0
  • Photos Count: 44
Miscellaneous
  • Current Use: Commercial
  • Location: Central Business District,In City Limits,High Traffic Area
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 12
Income & Expenses
  • Electric Expense: $7,735.00
  • Fuel Expense: $3,827.00
  • Gross Income: $120,840.00
  • Gross Scheduled Income: $120,840.00
  • Insurance Expense: $5,015.00
  • Electric Expense Source: Combination
  • Known Encumbrances: None Known
  • Expense Year: 2024
  • Total Annual Expense Source: Combination
  • Fuel Expense Source: Combination
  • Insurance Expense Source: Combination
  • Other Expense Source: Combination
  • Trash Expense Source: Actual
  • Total Monthly Income: 10070
  • Water Expense Source: Combination
  • Operating Expense: $43,209.00
  • Other Expense: $10,000.00
  • Trash Expense: $1,126.00
  • Water Sewer Expense: $3,475.00

Property History for 316-318 Liberty Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 316-318 Liberty Street

This home is within Morris School District 54.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Private - PK to 8
Rating
School
Distance
White Oak Elementary School
PublicPK to 5

Shabbona Middle School
Public6 to 8

Morris Community High School
Public9 to 12

Morris Christian School
PrivatePK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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316-318 Liberty Street is a mixed use property for sale in Morris, IL 60450. This property was listed for sale on October 25, 2024 by Century 21 Coleman-Hornsby, it's currently listed at $980,000. This listing's school districts are Morris School District 54, Morris Chsd 101 School District. Nearby schools include White Oak Elementary School, Shabbona Middle School and Morris Community High School. 316-318 Liberty Street is a 0-bed, 0-bath, mixed use property built in 1885.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Century 21 Coleman-Hornsby

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 10/31/2024 12:06 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.