513/517 Michael DrMorris, IL 60450

Property Details for 513/517 Michael Dr

Property size (Sq ft)

2,080 SF

Property type

Specialty properties

Property subtype

Land

Description

This exceptional three-unit commercial property, located at 513/517 Michael Dr. in Morris, Illinois (60450), presents a compelling investment opportunity. The 2,080 square foot brick and vinyl building enjoys high visibility from a signaled intersection on busy west Rt. 6. The property boasts two ground-floor commercial units currently leased to a beauty salon and a construction company, ensuring immediate income generation. Upstairs, a well-maintained two-bedroom apartment, complete with appliances and a deck overlooking green space, provides additional rental income. Both apartment and commercial tenants have existing leases. The property features eight designated parking spaces and has undergone significant recent improvements, including newer vinyl windows, a six-year-old high-efficiency boiler, and a water heater installed in March 2023. The building is fully depreciated, making it an attractive proposition for investors. Seller financing is available. This well-maintained property offers a blend of commercial and residential income streams in a desirable Morris location. This is a rare opportunity to acquire a three-unit income-producing property with a strong history of occupancy and significant recent upgrades.

Location Insight

City

Morris

County

Grundy

State

Illinois

Latitude

41.3723

Longitude

-88.4318

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