2401 Ashland Circle

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.