REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Mario Bilotas

mario@fourdaughtersrealestate.com +1(847) 910-5022

$ 650,000

Est. payment -/mo

Save

Active Under Contract

2401 Ashland CIR Morris, IL 60450

8 Beds

4 Baths

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID 12630069

Bedrooms 8

Year Built 1998

Annual Tax Amount $9,800

Tax Year 2024

Lot Dimensions 140x100x115x110

Property Sub-Type Two to Four Units

Property Description

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.

Location

State IL

County Grundy

Area Morris

Rooms

Basement Crawl Space

Interior

Heating Natural Gas

Fireplace N

Exterior

Community Features Curbs, Sidewalks, Street Lights, Street Paved

Building

Dwelling Type Two to Four Units

Building Description Vinyl Siding, No

Sewer Public Sewer

Water Public

Structure Type Vinyl Siding

New Construction false

Schools

Elementary Schools Saratoga Elementary School

Middle Schools Saratoga Elementary School

High Schools Morris Community High School

School District 60C , 60C, 101

Others

Ownership Fee Simple

Special Listing Condition List Broker Must Accompany

Listed by Kelly Farley of Give Back Realty

Nearby School & Business

AFFORDABILITY CALCULATOR

Use this calculator to determine how much house you can afford. By entering details about your income, down payment, and monthly debts, you can estimate the mortgage amount that works with your budget.

You can afford a home up to: $0

Your debt-to-income ratio is 36%
Quite affordable.

View Affordable Properties

Payment Breakdown：

$0 Month

Get more info from a local expert!

MY BLOGS

Vacant Land Scams are REAL

My Recent Experience with an Unauthorised Land Seller About 6 months ago, I received an email from (let's call him) Charlie. A "nothing out of the ordinary" email from a common (and mildly validating) charlie.....@hotmail stating: "I have owned the lot for many years, but a couple of years ago I moved from Illinois to California, and I would like to sell the lot. If you could please provide me with a market valuation, that would be great. We are looking to make a quick decision on this. Thank you, Charlie"

THE FRONT PORCH SWING

Oh, the memories. I remember my girls spending countless hours swinging front to back and side to side, hanging out with the neighborhood kids, splashing with the water hose, or crafting top-secret plans with their imaginations. It was awesome. How times have changed. With my two youngest girls slowly nearing college graduation and my older girls working hard in their careers, the days of simple life are taken over by group texts and long-distance daily check-ins. It's just not the same.

less is more, unless, it's for less.

Each day, I'd get my MLS home showing sheets ready, the electronic key card that opens lock-boxes, get dressed with minutes turning into seconds frantically starring at the time ticking away. All ready but just need to ...find ....one matching sock.

Contact Us

Phone

+1(847) 910-5022

mario@fourdaughtersrealestate.com

Address

205 W. Miner Street, Arlington Heights, IL, 60005, USA