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    Downtown Urbana Commercial Building

    114 S Race Urbana, IL 61801

    Claim this Listing
    Picture of Storefront properties at 114 S Race, Urbana, IL
    For Sale
    $475,000

    COMMERCIAL - Urbana, IL

    Type:Retail
    Lot size:
    0.06 Acres
    Added:
    Sep 26, 2025
    Days on Market:
    292
    Last Refresh:
    Jul 14 at 12:06 am

    Property Features for 114 S Race

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    RTAIL
    Standard status
    Active
    APN
    922117206023
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    R
    Tax Annual Amount
    7795

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Floors in Building
    2

    Listing agent Jonah Weisskopf License #475155882

    Listing office Weiner Co., Ltd. 211 E. Green, Urbana, IL

    Listing date Sep 26, 2025

    MLS# 12481559

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Investment Insights

    Based on property information with market context.

    Located in the heart of downtown Urbana, this two-story brick building features a first-floor restaurant. The second floor is currently unfinished. The adjacent building to the South is being developed into a live music venue, with an anticipated opening in early Fall 2026. The current first-floor rents are $3,500 per month, with tenants responsible for utilities and repairs up to $10,000. The property benefits from a low tax assessment. Urbana is experiencing growth, with multiple new businesses opening in the past two years. This property is suitable for an owner-operator or a value-add investor interested in converting the second floor into a loft. The lot size is 0.061 acres.

    Key Highlights

    • Prime downtown Urbana location.
    • Existing first‑floor restaurant generating $3,500/month rental income.
    • Unfinished second floor offers 'value add' opportunity for conversion.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Tres nopales Restaurant

    Suggested Use

    Real Estate Agency Dental Office Kitchen & Bath Showroom Big Box & Wholesale Store Nail Salon Plumbing Service Furniture & Home Goods Hair Salon Accounting Firm Veterinary Clinic

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Storefront property - Two-story commercial building with first-floor restaurant in downtown Urbana.
    Where is this storefront property located?
    The property is located at 114 S Race Urbana, IL.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Prime downtown Urbana location.; Existing first‑floor restaurant generating $3,500/month rental income.; Unfinished second floor offers **'value add' opportunity for conversion**.
    Contact an agent
    (217) 972-8413
    We can help!
    Contact an agent
    Jonah Weisskopf
    Real Estate License ID: 475155882
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