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    401 S Neil St Champaign, IL 61820

    For Lease
    $20 SF/Yr

    Commercial Lease - Champaign, IL

    Days on Market:
    16
    Last Refresh:
    Dec 5 at 11:06 pm

    Property Features for 401 S Neil St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RTAIL

    Building Details

    Year built
    2026
    Architectural style
    Other

    Keller Williams The Real Estate Center of Illinois, LLC (217) 356-6100 [email protected]

    Listing agent Mark Panno (217) 356-6100 License #475164947

    Listing date Nov 20, 2025

    MLS# 12521356 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

    Champaign Commercial Land For Lease

    This commercial land is available for lease in a desirable Champaign location. Situated on a highly trafficked corner adjacent to the University of Illinois at Urbana-Champaign (UIUC) campus and on the south end of downtown Champaign, the location benefits from commuter traffic from four directions. The property is zoned CB1, which allows for medium-intensity retail, service, and office development, along with housing, parking, and institutional uses. The developable space is approximately 15,483 square feet. Traffic counts are as follows: Springfield Avenue eastbound sees 11,200 AADT, and westbound sees 12,000 AADT. Neil Street southbound sees 15,200 AADT, and northbound sees 18,500 AADT. The property is offered for build-to-suit or land lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Neil Street & Washington Parking Lot Concord Custom Cleaners Dry Cleaner

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2438432
    Latitude
    40.1123209

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    FAQs

    What type of property is this?
    Commercial land - Highly trafficked corner lot near UIUC campus available for lease.
    Where is this commercial land located?
    The property is located at 401 S Neil St Champaign, IL.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: - Highly trafficked corner location adjacent to UIUC campus and the south end of downtown Champaign.; - Located on a commuter route from four directions.; - CB1 Zoning allows for medium intensity retail, service, and office development, along with housing, parking, and institutional uses.
    (217) 356-6100
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    401 S Neil St Champaign, IL 61820
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    Champaign, IL 61820
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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
    401 S Neil St Champaign, IL 61820
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