* Under the rear cargo area: This is the most common location. Look for a panel or cover in the floor of the cargo area, usually carpeted. The jack and lug wrench are usually stored underneath this panel.
* Under the front passenger seat: Less common, but sometimes the jack and wrench are stored under the front passenger seat. Check for a compartment or a space under the seat where they might fit.
If you can't find them in either of these locations, consult your owner's manual. It should have a diagram showing the exact location. A quick online search for "2001 Jeep Cherokee jack location" with images might also help.