Urbana, IL Commercial Real Estate for Sale

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Updated: Aug 4, 2025

Medical Office Property with Expansion Parcel

1209 E Colorado Avenue, Urbana, IL 61801

$725,000

4,312 sqft 0.87 AC lot

Two contiguous parcels totaling 37,806 SF
4,312 SF medical office building at 1209 E Colorado Avenue
Adjacent vacant parcel at 1207 E Colorado Avenue
Suite 101: 2,262 SF leased through 3/31/2029 with a 5‑year renewal option
27 surface parking spaces and shared waiting area

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This listing looks promising.

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1209 E Colorado Avenue, Urbana, IL 61801

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Est. Cap Rate

7%
Above avg (5.9%)
Est. NOI

$51K
Annual
Price @ 7% Cap

$726K
Above asking

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Updated: Apr 14

Downtown Grocery Market

306 W Springfield Avenue W, Urbana, IL 61801

$1,300,000

0.61 AC lot

Freestanding grocery and convenience property in Downtown Urbana
Expansive refrigeration and dedicated frozen storage
Bakery and commercial kitchen areas
Café component with retail food aisles
Zoned COMMR

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Assembled Mixed-Use Development Site

507 Springfield Avenue, Urbana, IL 61801

$550,000

0.54 AC lot

Two parcels combine an office building, on-grade parking, and zoning supporting residential and commercial development.

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For-Sale Office Property

507 S Broadway Avenue, Urbana, IL 61801

$970,000

0.46 AC lot

For-sale office property offered with an approximately 0.46-acre lot.

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Multi-Tenant Administrative Office Campus

1776 E Washington St, Urbana, IL 61802

$3,300,000

93,000 sqft 20.00 AC lot

Adaptable office campus remodeled from institutional administrative use on a large, multi-tenant site.

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B-3 Zoned Commercial Vacant Lot

1009 N Cunningham Avenue, Urbana, IL 61802

$225,000

0.36 AC lot

Vacant 0.36-acre B-3 lot in Urbana suited for general business development.

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Mixed-Use Property with Shop Area

507 Crystal Lake Drive, Urbana, IL 61802

$139,900

0.32 AC lot

Existing improvements combine an apartment with a dedicated shop area.

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Commercial Land with Highway Visibility

2005 N Kenyon Road, Urbana, IL 61802

$355,000

1.80 AC lot

1.8-acre commercial land parcel located near the I-74 and US 45/Cunningham Ave exit.

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Commercial Land Near Interstate

905 W Killarney Street, Urbana, IL 61801

$475,000

1.06 AC lot

B-3 General Business zoning and interstate access define the site’s commercial profile.

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Two-Story Brick Restaurant Building

114 S Race, Urbana, IL 61801

$475,000

0.06 AC lot

Downtown Urbana restaurant property with an unfinished upper level and central air conditioning.

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Urbana Land Ready to Build

1011 and 1101 Bradley Avenue, Urbana, IL 61801

$2,654,894

11 sqft

Land for sale in Urbana, Illinois, with interstate access.

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Urbana Land For Sale

402 W Griggs Street, Urbana, IL 61801

$400,000

1.08 AC lot

Commercial land available in Urbana, Illinois.

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Prime Land Near University

1301 N Lincoln Avenue, Urbana, IL 61801

$1,200,000

3.12 AC lot

3.12-acre parcel near the University of Illinois.

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Industrial Property with Office Suites

3509 N Cunningham Ave, Urbana, IL 61802

Contact for pricing

7,674 sqft

Steel buildings with concrete floors plus a remodeled office suite on adjoining parcels.

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Renovated Downtown Storefront

110 W Main Street, Urbana, IL 61801

$459,900

Retail condominium offers hardwood flooring, high ceilings, and south-facing storefront windows.

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One-Story Retail Laundromat Building

402 N Broadway, Urbana, IL 61801

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4,400 sqft

Single-story brick retail building currently operating as a laundromat, with 2020 roof and gutter improvements.

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Retail Building in Urbana

1110 S Philo Rd, Urbana, IL 61801

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9,180 sqft 1.17 AC lot

9,180 SF retail building on 1.17 acres.

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Renovated Mixed-Use Building with Retail

218 W Main Street, Urbana, IL 61801

$995,000

7,750 sqft

Historic Stephen's Building offers two leased ground-floor retail spaces and four fully renovated apartments.

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Urbana Pad Site For Sale

2002 E Windsor Rd, Urbana, IL 61802

$785,000

155 sqft

3.56 AC pad site in Southeast Urbana for development.

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Warehouse and Office Facility

1717 S Philo Rd, Urbana, IL 61802

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75,276 sqft 5.35 AC lot

Concrete block warehouse with wet-sprinkler system, mezzanine office space, and asphalt surface parking.

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Downtown Restaurant with Patio

201 N Broadway Ave, Urbana, IL 61801

$550,000

Turnkey restaurant space includes built-in seating, an art deco back bar, and a front patio for additional guests.

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Downtown Urbana Office/Warehouse Building

508 S Broadway Ave Urbana IL, Urbana, IL 61801

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9,251 sqft 0.63 AC lot

Professional office building with warehouse space in downtown Urbana.

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Remodeled Bar & Karaoke Venue

214 W Main St, Urbana, IL

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8,800 sqft 0.11 AC lot

Turnkey bar and karaoke venue with leaseback opportunity.

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Turn-Key Restaurant and Bar

1309 East Washington Street, Urbana, IL 61802

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4,923 sqft

Turn-key restaurant and bar available for sale in Urbana, IL.

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Urbana, IL Commercial Real Estate Market Trends and Statistics

Explore 72 commercial real estate for sale in Urbana, IL, showcased through 51 active listings on our real estate platform. These investment opportunities span a total of 1,150,057 square feet of properties for sale, with an estimated market value of $19,749,494.

Sale prices for business properties in Urbana, IL start at $110,000, averaging $789,979, and reaching up to $3,300,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Demographics Overview

Population 47K

Population Growth (5Y) -5.1%

Median Household Income $46,466

College Educated 55.8%

High-Yield Neighborhoods for Investment

Identify Urbana submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
61801	$782.6K
61802	$862.2K

Taxes & Financing

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Champaign County

New Delisted

Property Size Breakdown

The majority of commercial real estate listings in Urbana fall within the 25,000 to 50,000 square foot range.

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