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    41 E University Ave Champaign, IL 61821

    For Lease
    $17 SF/Yr

    Other - Champaign, IL

    Days on Market:
    175
    Last Refresh:
    Dec 6 at 7:06 am

    Property Features for 41 E University Ave

    General Information

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

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1913
    Flooring type
    Tile, Vinyl, Wood
    Architectural style
    Other

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

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

    Listing date Jun 15, 2025

    MLS# 12080025 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

    Downtown Champaign Retail Opportunity

    Located in the heart of Downtown Champaign, the historic Traction Building offers a high-visibility space with substantial traffic. The available space, formerly a salon, is suitable for restaurant, retail, or business use. The approximately 3400-square-foot area includes a reception area, storage room, dressing room, two restrooms, four treatment rooms, and a kitchen. Flooring consists of maple, ceramic, and vinyl tile. The space is fully HDA compliant. Large east and north-facing windows provide natural light and city views. Downtown Champaign features a variety of restaurants, microbreweries, and pubs, along with a vibrant cultural and arts scene. The area is characterized by mixed-use properties and multi-family developments, creating a significant residential population that combines with strong daytime employment, establishing a solid customer and client base. The property is across the street from the Illinois Terminal hub, which provides a consolidated terminal for inter-city bus service, rail passenger service, and a major transfer point for local mass transit service. It also offers easy access to the University of Illinois with over 55,000 students. Public parking is available across the street, and private lease parking is also an option.
    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?
    Retail space - Prime retail space in the historic Traction Building.
    Where is this retail space located?
    The property is located at 41 E University Ave Champaign, IL.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: - Prime Downtown Champaign location with high visibility and traffic.; - Versatile 3400 s.f. space suitable for restaurant, retail, or business.; - Abundant natural light and city views from large east and north windows.
    (217) 355-1000
    Request Owner's contact information
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    Champaign, IL 61821
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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 61821
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