513-517 Michael Drive, Unit 513

Morris, IL 60450

$289,500
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

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....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!
  1. Listed by Shawn Hornsby • Century 21 Coleman-Hornsby

Property Details for 513-517 Michael Drive, Unit 513

Area
Morris
Township
Saratoga
Zoning
COMMR

Location

Listing Courtesy of Century 21 Coleman-Hornsby
Add your commute
LISTING UPDATED: 04/25/2024 12:07 AM

Property Details for 513-517 Michael Drive, Unit 513

StatusActive
MLS #11875775
Days on Market240
Taxes$4,188 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1966
Lot Size0.13 AC / 5,478 SF
CountyGrundy County

Location

Listing Courtesy of Century 21 Coleman-Hornsby
Add your commute

Building Information for 513-517 Michael Drive, Unit 513

Stories-Residences3Year Built1966Lot Size0.13 AC / 5,478 SF

Payment Calculator

$1,929 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,580

Property Taxes

$349

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 513-517 Michael Drive, Unit 513

General Information
Addtl Parking Information
  • Outdoor Parking: 6-12 Spaces
  • Open Parking Spaces: 8.0
Location and General Information
  • Geographic Locale: Far West
  • Information: Standard
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Service - 101 to 200 Amps
  • Flooring: Carpet, Tile, Varies
  • # Of Washers: 1
  • Heat/Ventilation: Hot Water
  • # Of Window/Ac: 5
  • # Of Refrigerators: 1
  • # Of Dryers: 1
  • # Of Dishwashers: 1
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 1
Utilities / Equipment
  • Utilities: Electric to Site, Gas to Site, Sanitary Sewer, Water-Municipal
Property/Lot Information
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 84X66
  • Lot Size Square Feet: 5478.0
  • Stories: 2
  • Exterior Building Type: Vinyl Siding, Brick
  • Construction: Brick, Block
  • Roof Type: Composition
  • Fire Protection: Other,Carbon Monoxide Detector(s)
  • Roof Structure: Hip
  • Building Area Total: 2080
  • # Of Offices: 1
  • Office SqFt: 540
  • Other SqFt: 1040
  • Retail SqFt: 500
  • # Of Ranges: 1
  • # Of Stores: 1
  • Property Sub Type: Mixed Use
  • MRD_UNC: No
Property and Assessments
  • Public Document Count: 1
  • Document Date: 2023-09-03T02:02:09
  • Photos Count: 29
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: 3
Income & Expenses
  • Electric Expense: $1,200.00
  • Fuel Expense: $1,200.00
  • Gross Income: $30,000.00
  • Gross Scheduled Income: $30,000.00
  • Insurance Expense: $1,800.00
  • Electric Expense Source: Owner Projection
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Trash Expense Source: Owner Projection
  • Total Monthly Income: 2500
  • Water Expense Source: Owner Projection
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $1,620.00

Property History for 513-517 Michael Drive, Unit 513

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 513-517 Michael Drive, Unit 513

This home is within Saratoga Central Consolidated School District 60c.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Private - PK to 8
Rating
School
Distance
Saratoga Elementary School
PublicPK to 8

Morris Community High School
Public9 to 12

Immaculate Conception 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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513-517 Michael Drive, Unit 513 is a mixed use property for sale in Morris, IL 60450. This property was listed for sale on September 1, 2023 by Century 21 Coleman-Hornsby, it's currently listed at $289,500. This listing's school districts are Saratoga Central Consolidated School District 60c, Morris Chsd 101 School District. Nearby schools include Saratoga Elementary School, Morris Community High School and Immaculate Conception School. 513-517 Michael Drive, Unit 513 is a 0-bed, 0-bath, mixed use property built in 1966.

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. 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.