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    114 South Race St Urbana, IL 61801

    Picture of Restaurants at South Race St 114, Urbana, IL
    For Sale
    $515,000

    Restaurant - Urbana, IL

    Property size:
    4,040 SF
    Days on Market:
    73
    Last Refresh:
    Dec 7 at 2:06 am

    Property Features for 114 South Race St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RTAIL
    APN
    922117206023
    Size
    4,040 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Architectural style
    Other

    The Weiner Companies, Ltd. (217) 972-8413 [email protected]

    Listing agent Jonah Weisskopf (217) 972-8413 License #475155882

    Listing date Sep 26, 2025

    MLS# 12481559 Listing URL

    Copyright © 2025 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.

    Overview

    Urbana Restaurant Opportunity For Sale

    Located in the heart of downtown Urbana, this two-story brick building features a first-floor restaurant. The second floor is currently unfinished, presenting a potential opportunity for development. The adjacent building to the South is undergoing development 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. With multiple new businesses opening in the past two years, Urbana is experiencing growth. The property, totaling 4,040 square feet, is suitable for an owner-operator or a value-add investor interested in converting the second floor into a loft. The zoning is RTAIL, allowing for retail and restaurant uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tres nopales Mexican Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Similar Places Nearby

    Hendrick House, Afghan Cuisine Restaurant

    Location Insight

    • Map
    • Local Demand
    City
    Urbana
    County
    Champaign
    State
    Illinois
    Longitude
    -88.209749
    Latitude
    40.112975

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    FAQs

    What type of property is this?
    Restaurant - Two-story building with first-floor restaurant in downtown Urbana.
    Where is this restaurant located?
    The property is located at 114 South Race St Urbana, IL.
    What is the asking price?
    The asking price for this property is $515,000.
    What are key features of this property?
    This property features: - Prime downtown Urbana location.; - Existing first-floor restaurant generating $3,500 per month in rental income.; - Low tax assessment.
    (217) 972-8413
    Request Owner's contact information
    114 South Race St Urbana, IL 61801
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    Urbana, IL 61801
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    114 South Race St Urbana, IL 61801
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