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DESCRIPTION

This is your chance to own one of the rare strip centers near campus that features plenty of parking! This multi-tenant strip center has around 21,800 vehicles pass by per day and is a short distance from OSF Medical Center; a 210-bed comprehensive medical facility, and Carle Foundation; a 345-bed regional care hospital. Other surrounding property uses include a 500+ bed student housing development located directly across University Avenue. This building benefits from high visibility and easy accessibility, and is conducive to a wide variety of commercial uses including retail and office space. It is within walking distance to campus with 60% occupancy which includes Two Roads Wellness, Champaign Liquor, and JB Hawk. The two middle units 507 Suite 1 and Suite 2 share a commons entrance and waiting area with a demising door separating the two spaces. Suite 2 has been newly remodeled and is set up for a small medical clinic with a sink in each room. This building has a lot of potential and there are no city set backs for exciting possibilities for expansion or building new. View it today!

KEY DETAILS
  • Price:
  • $18
  • Bedrooms:
  • 0
  • Full Baths:
  • 0
  • Square Footage:
  • n/a
  • Acreage:
  • 0.80
  • MLS #:
  • MRD11666214
  • Street Address:
  • 505 E University Ave 505-519
  • City:
  • Champaign
  • State:
  • IL
  • Postal Code:
  • 61820
  • County:
  • Champaign
  • Area:
  • Champaign/ Savoy
  • Listing Status:
  • For Sale - Active

Building

  • Leasable Square Feet:
  • 13050
  • Stories:
  • 1

Business

  • Annual Electric Expenses:
  • 7235
  • Annual Insurance Expenses:
  • 3408
  • Annual Trash Expenses:
  • 174
  • Annual Water/Sewer Expenses:
  • 1934
  • Net Operating Income:
  • 85000
  • Operating Expense:
  • 59207

Land

  • Conforms To Zoning:
  • Commr
  • Existing Land Use:
  • Commercial
  • Lot Frontage:
  • City Street, Paved
  • Lot Square Footage:
  • 34848

Listing

  • Days On Market:
  • 40
  • Lease Rate:
  • 18
  • Originating Mls:
  • Mred

Money

  • Property Taxes:
  • $37,538
  • Tax Year:
  • 2021
  • Tenant Pays:
  • Air Conditioning, Common Area Maintenance, Electricity, Heat, Taxes, Repairs, Sewer

Systems

  • Cooling System:
  • Central Air, Zoned
  • Electricity:
  • Separate Meters

Source

  • Listing Provided By: Shannon Collins with Green Street Realty

    ILMRED
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NOTES

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