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    505 E University Ave Champaign, IL 61820

    For Sale
    $3,000,000

    Commercial Sale - Champaign, IL

    Property size:
    13,050 SF
    Days on Market:
    133
    Last Refresh:
    Dec 9 at 3:06 pm

    Property Features for 505 E University Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    APN
    462107380003
    Size
    13,050 SF

    Utilities

    Cooling system
    Central Air, Zoned

    Building Details

    Number of units
    5
    Architectural style
    Other

    The Real Estate Group LLC (217) 898-9204 [email protected]

    Listing agent Carol Meinhart (217) 898-9204 License #475127814

    Listing date Jul 30, 2025

    MLS# 12402207 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

    Versatile Multi-Tenant Building in Champaign

    Located at 505-507 E. University Avenue in Champaign, Illinois, this 3,600-square-foot multi-tenant building offers a versatile investment opportunity. The property is currently occupied by a liquor store, an international fast-food restaurant, and a therapy center. The available space is delivered in vanilla box condition, allowing future tenants to customize the interior. The site offers visibility along University Avenue, one of the busiest east-west thoroughfares in the area, providing exposure and consistent vehicle and pedestrian traffic. On-site parking enhances accessibility for both tenants and customers, making it a convenient destination for retail, service, or professional office users. The property's location near the University of Illinois campus, Carle Foundation Hospital, and OSF Heart of Mary Medical Center attracts a diverse population of students, medical professionals, and visitors. With a CG - Commercial General zoning designation, this property supports a range of commercial uses. Its central location in a densely populated area surrounded by businesses and residential neighborhoods makes it suitable for both owner-users and investors looking to capitalize on Champaign's economic and demographic growth. The property size is 13,050 Square Feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Brave Beginnings Counseling, ... Mental Health Service Kallembach & Associates Tax Preparation Service Fida Abdelrasoul Counselor Laurie Gilbert Social Worker Lauren Kampwirth Social Worker

    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
    -88.231379
    Latitude
    40.116059

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    FAQs

    What type of property is this?
    Retail space - 3,600 SF multi-tenant building with diverse tenant mix.
    Where is this retail space located?
    The property is located at 505 E University Ave Champaign, IL.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: - Prime location on University Avenue with high visibility and traffic.; - Versatile 3,600 sq ft multi-tenant building with diverse tenant mix.; - Ample on-site parking for tenants and customers.
    (217) 898-9204
    Request Owner's contact information
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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
    505 E University Ave Champaign, IL 61820
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