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It is not much like Iowa City in terms of having the University, but there are some similarities. Big nuclear plant supports the town. In Illinois property taxes are the main way schools are funded and nuclear plants are about the most expensive thing that can be built, so schools are much better than one would expect.
Surrounded by farms morphing into suburbs Morris is not real exciting though it does have some small town charm. Back in the pre-civil war period the town was selected as the county seat and had some development including a brick manufacturer, which greatly improved the quality of the housing.
Being on the Illinois river, downstream of the I&M canal made it a port town for agriculture. As towns further north like Joliet industrialized and then went into decline Morris relied more on farming. Recent shifts in demographics have put it more in the suburban fringe.
It is close to some State Parks and convenient to I-80 so most Chicagoans at least know how to get there. Some bicycle events (like century rides) use it as a turn point or finish.
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