Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3002 N Brickhouses Rd Urbana, IL 61802

    Sponsored
    For Sale
    $150,000

    LAND - Urbana, IL

    Lot size:
    0.88 Acres
    Days on Market:
    83
    Last Refresh:
    Feb 3 at 6:06 pm

    Property Features for 3002 N Brickhouses Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    251535300018
    Lot size
    0.88 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Septic Needed

    We can help!

    Listing Contact
    Kimberly Krisman-Clark

    RE/MAX Realty Associate (217) 373-4964

    Listing agent Kimberly Krisman-Clark (217) 352-5700

    Listing date Nov 13, 2025

    MLS# 12513851 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Urbana, IL Land For Sale

    Located in Champaign County, this 0.88-acre property is part of the Brickhouses Road Subdivision, a country retreat characterized by mature trees and rolling hills. The area is known for its sunrises and sunsets, offering a blend of quiet country living with convenient access to city amenities. The subdivision features paved streets with curbs and storm drains, Ameren gas and electric services, and Illinois American Water. A standard septic system is required. Accessory dwellings are permitted. Developer approval is required for home designs, with free design assistance available. The property offers a setting close to town.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Skin Care Clinic Food Market Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Urbana
    County
    Champaign
    State
    Illinois
    Longitude
    -88.158546
    Latitude
    40.144479

    Nearby Similar for Sale

    • $410,000
      0.24 Acres

      Urbana Multifamily Investment Opportunity

      Fully leased 5-unit building with parking and coin laundry.
      212 W High St, Urbana, IL 61801
      View Details
    • $125,000
      0.09 Acres

      Urbana Duplex Investment Opportunity

      Fully rented duplex in Urbana, near the University of Illinois.
      401 S Maple St, Urbana, IL 61801
      View Details
    • $271,900

      Urbana Duplex Near Park

      Brick and vinyl duplex near park, ideal for owner occupant.
      1003 E Mchenry St, Urbana, IL 61801
      View Details
    • $975,000
      0.23 Acres

      Tudor Multifamily Near University of Illinois

      Charming, fully leased multifamily property near downtown Urbana and University.
      603 W Green St, Urbana, IL 61801
      View Details
    • $250,000

      Urbana Duplex Near Campus

      Investment duplex near campus with furnished units and parking.
      812 W Main St, Urbana, IL 61801
      View Details
    • $450,000
      0.52 Acres

      Boomerangs Bar & Grill Building

      Well-known bar and grill with potential for new owners.
      1309 E Washington St, Urbana, IL 61802
      View Details
    • $175,000
      0.41 Acres

      Urbana Commercial Property For Sale

      Versatile commercial building with workshop and office space in Urbana.
      4904 N Cunningham Ave, Urbana, IL 61802
      View Details
    • $615,000
      0.18 Acres

      Urbana Multifamily Investment Opportunity

      Well-maintained 5-unit property near University of Illinois campus.
      709 W Nevada St, Urbana, IL 61801
      View Details
    • $275,000
      0.23 Acres

      Fully Leased Urbana Multifamily Property

      Five-unit building near downtown Urbana, fully leased with remodeling.
      202 S Grove St, Urbana, IL 61802
      View Details
    • Contact for pricing
      1,043 SF

      New Dutch Bros Drive-Thru

      Brand new Dutch Bros with drive-thru near University of Illinois.
      809 W Green St, Urbana, IL 61801
      View Details
    • $5,800,000
      600 SF

      Urbana Multifamily Portfolio

      Six-building, 77-unit multifamily portfolio in Urbana, Illinois.
      2008 Vawter Ave, Urbana, IL 61801
      View Details
    • $800,000
      2 SF

      Urbana Redevelopment Opportunity For Sale

      Redevelopment opportunity on a hard corner in Urbana, Illinois.
      2702-2708 N Cunningham Ave, Urbana, IL 61802
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land in a tranquil country setting near city amenities.
    Where is this residential land & home lot located?
    The property is located at 3002 N Brickhouses Rd Urbana, IL.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: - Scenic country setting with mature trees, rolling hills, and abundant wildlife.; - Conveniently located close to city amenities.; - Low county taxes.
    (217) 352-5700
    Request Owner's contact information
    3002 N Brickhouses Rd Urbana, IL 61802
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3002 N Brickhouses Rd
    Urbana, IL 61802
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    3002 N Brickhouses Rd Urbana, IL 61802
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Kimberly Krisman-Clark
    Real Estate License ID: 475132428
    (217) 352-5700
    Learn more
    Google sign-in failed. Please try again or use another login method.