IL
Grundy
Morris
60450
2401 Ashland Circle, Morris, IL 60450
Share Listing
Listing Type
Multi Family
Listing Status
Active
0
$650,000

Home Details for 2401 Ashland Circle

Price
$650,000
Type
Residential Income
Bedrooms
8
Bathrooms
4.0
Square feet
NaN
Year built
1998
County
Grundy
Total rooms
24
Garage
Basement
Crawl Space
Days on site
0
MLS Listing#
12427634
Property Description

Turnkey 4-unit investment property in prime Morris location. An excellent opportunity to own a well-maintained, fully leased 4-unit apartment building in desirable north Morris - 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 separately metered and 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. This property offers strong cash flow and long-term appreciation potential - ideal for new investors entering the rental market or seasoned owners looking to expand 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 to mid-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. Current 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, US Cold Storage and the planned Canadian National Railway (CN) logistics hub development, projected to create thousands of permanent jobs. Making this an extremely strong rental market. Important: Please do not walk the property without prior notice. Showings for qualified buyers only. Broker owned. Don't let this one getaway.

Property Features
  • Heating Information
    • Natural Gas
  • Water Features
    • Public
  • Parking
    • Unassigned
  • Basement
    • Crawl Space
School Information
School Information for 2401 Ashland Circle, Morris, IL 60450
Elementary School
Saratoga Elementary School
Middle School
Saratoga Elementary School
High School
Morris Community High School
Listing Courtesy: Give Back Realty - 630-561-5989
Midwest Real Estate Data logo Based on information submitted to the MLS GRID as of 2025-12-10 13:47:04. 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.
Last Updated: 2025-12-10 13:47:04
Transportation
Check the walk, transit, and bike score for
Neighborhood Market Statistics
See average values in the proximity of this property
Median Listing Price
Median Days on Site
Median Square Feet
Market statistics compiled from data from Midwest Real Estate Data.
EXIT REALTY REDEFINED
1275 E. Butterfield Rd Suite 200, Wheaton, IL 60189
Roger Jenisch
License #: 471-013357
Broker of Record
Office
630 480 4555
Agent
773 682 8771
Request more details
Code: