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$985,000

  • Sold
  • Closed
  • Commercial
  • 15,000 Sq. Ft.
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The Gebhard Building - A Historic Gem in Downtown Morris, IL! Built in 1885 by Louis Gebhard, founder of Gebhard 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.

Full Property Details for 316-318 Liberty St

General

  • Sold For: $985,000
  • Taxes: $12,031 (2023)
  • Status: Closed
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12191549
  • Added to Site: 448 day(s) ago

Interior

  • Interior Features: Private Restroom(s), Public Restroom(s)
  • Flooring: Varies

Additional Information

  • Security/Safety: Fire Extinguisher(s), Carbon Monoxide Detector(s)

Location

  • Area: Morris
  • County: Grundy
  • Driving Directions: I55 to I80 W to Rt 47 S to North St E to Liberty St S to building on the right.
  • Location Details: Southwest Suburban, Central Business District, In City Limits, High Traffic Area

Heating & Cooling

  • Cooling Type: Central Air Conditioning, Window Unit(s)
  • Heating Type: Electric, Forced Air, Gas, Wall Unit

Utilities

  • Onsite: Electricity Available, Natural Gas Available

Structural Information

  • Construction: Brick, Concrete, Stone, Wood, Frame, Block
  • Exterior Const.: Brick, Concrete, Stone, Wood, Frame, Block
  • Foundation: Concrete Perimeter, Stone
  • Sub-Flooring: Varies
  • Stories/Levels: 3
  • Square Feet: 15,000
  • Current Bldg. Use: Commercial
  • # of Stores: 1
  • Year Built: 1885
  • Built Before 1978: Yes

Unit Information

  • # Tenants: 12
  • Units w/Refrigerators: 6
  • Units w/Range/Oven: 5
  • # Dryers: 1

Lot Features

  • Lot Size (Sq. Ft.): 6,600
  • Lot Dimensions: 60 x 110
  • Frontage: City Street
  • Zoning: COMMR

Financial Considerations

  • Operating Expenses: $43,209
  • Security Deposit: Fire Extinguisher/s, Carbon Monoxide Detector(s)
  • Assessment Year: 1885
  • Tax Amount: $12,031
  • Tax Year: 2023

Disclosures and Reports

  • Documents Avail.: Rent Roll, Leases, Floor Plan
  • Property ID: 504485007

Listed and Sold by Century 21 Coleman-Hornsby

Listing agent

— 316-318 Liberty St —

  • Century 21 Coleman-Hornsby

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 316-318 Liberty St

School Districts:Morris Community High School District 101, Morris School District 54
NameGradesDistance
White Oak Elementary School
2001 Dupont Avenue, Morris, IL 60450
PK-51.6 mi
Shabbona Middle School
725 School Street, Morris, IL 60450
6-80.9 mi
Morris Community High School
1000 Union Street, Morris, IL 60450
9-120.7 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 316-318 Liberty St

Date
Details
Price
Change
Source
8/06/2025
Sold
$985,000
0.51%
MLS
10/25/2024
Listed
$980,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed and Sold by Century 21 Coleman-Hornsby

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316/318 Liberty Street, Morris, IL 60450 (MLS# 12191549) is a Commercial property that was sold at $985,000 on August 06, 2025. Want to learn more about 316/318 Liberty Street? Do you have questions about finding other Commercial real estate for sale in Morris? You can browse all Morris real estate or contact a Coldwell Banker agent to request more information.