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    41 E University Ave Champaign, IL 61820

    For Sale
    $3,850,000

    Mixed Use - Champaign, IL

    Type:Mixed Use
    Property size:
    22,052 SF
    Days on Market:
    85
    Last Refresh:
    Dec 11 at 8:06 am

    Property Features for 41 E University Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    Zoning
    COMMR
    APN
    422012479002
    Size
    22,052 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1913
    Number of units
    12
    Flooring type
    Carpet, Concrete, Tile, Vinyl, Wood
    Roof type
    Membrane, Rubber
    Architectural style
    Other

    Ward & Associates, Realtors, Inc. (217) 355-1000 [email protected]

    Listing agent Debby Auble (217) 355-1000 License #471013006

    Listing date Sep 18, 2025

    MLS# 12212107 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

    Historic Downtown Champaign Mixed-Use Building

    Located in the heart of Downtown Champaign, the historic Illinois Traction Building offers high visibility and traffic. Constructed in 1913 and designed by architect Joseph Royer in the Contemporary Commercial Style, the building features large windows providing natural light and city views. Originally housing railway offices and serving as the Champaign interurban station until 1936, it later housed the offices of the Illinois Power Company. The building was added to the National Register of Historic Places in 2006. The property provides a blend of retail, residential, and office space, along with off-street parking. The west side has outdoor paved space currently used for off-street parking, but it could be transformed into outdoor patio and/or dining areas with access to the first floor. The location across Market Street from the Illinois Terminal hub provides easy access to the University of Illinois and its over 55,000 students. Downtown Champaign features restaurants, microbreweries, pubs, and a cultural and arts scene. The area has mixed-use properties and multi-family developments, creating a residential population and a daytime employment base for businesses. The property has 22,052 square feet of space and is zoned COMMR.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Whole Body Health ... Naturopathic Practitioner TLT Properties Property Management Company Lynda Alper Counselor Blue Frog Restorations Building Restoration Service Champaign Van Rental Van Rental Agency

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.24219
    Latitude
    40.116035

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    FAQs

    What type of property is this?
    Mixed-use property - Historic mixed-use building in downtown Champaign with retail, office, residential.
    Where is this mixed-use property located?
    The property is located at 41 E University Ave Champaign, IL.
    What is the asking price?
    The asking price for this property is $3,850,000.
    What are key features of this property?
    This property features: - High-visibility location in the heart of Downtown Champaign with high traffic count.; - Versatile space suitable for retail, residential, and office use with off-street parking.; - Potential for outdoor patio/dining area on the west side, increasing business visibility.
    (217) 355-1000
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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
    41 E University Ave Champaign, IL 61820
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