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505 E University Ave Champaign, IL 61820

Sponsored
For Sale
Under Contract
$3,000,000

COMMERCIAL - Champaign, IL

Type:Retail
Lot size:
0.21 Acres
Days on Market:
7
Last Refresh:
Jan 19 at 11:06 am

Property Features for 505 E University Ave

General Information

Property type
Commercial Sale
Property subtype
Retail
Standard status
Active Under Contract
Zoning
COMMR
APN
462107380003
Lot size
0.21 Acres

Utilities

Cooling system
Zoned, Central Air

Building Details

Floors in Building
1
Number of units
5

We can help!

Listing Contact
Carol Meinhart
Carol Meinhart

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

Listing agent Carol Meinhart (217) 840-3328

Listing date Jan 13, 2026

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

Versatile Multi-Tenant Investment Opportunity

Located at 505-507 E. University Avenue in Champaign, Illinois, this versatile 3,600-square-foot multi-tenant building presents a prime investment opportunity. The property is currently occupied by a liquor store, an international fast-food restaurant, and a therapy center, offering an attractive mix of tenants that appeal to a broad customer base. The available space is delivered in vanilla box condition, allowing future tenants to customize the interior to suit their operational needs. The site offers excellent visibility along University Avenue, one of the busiest east-west thoroughfares in the area, providing outstanding exposure and consistent vehicle and pedestrian traffic. Ample on-site parking enhances accessibility for both tenants and customers, making it a convenient destination for retail, service, or professional office users. Additionally, the property's location near the University of Illinois campus, Carle Foundation Hospital, and OSF Heart of Mary Medical Center further bolsters its appeal by attracting a diverse population of students, medical professionals, and visitors. With a CG - Commercial General zoning designation, this property supports a wide range of commercial uses. Its central location in a densely populated area surrounded by businesses and residential neighborhoods makes it an ideal opportunity for both owner-users and investors looking to capitalize on Champaign's strong economic and demographic growth. The lot size is 0.21 acres.
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

FAQs

What type of property is this?
Retail space - 3,600 SF multi-tenant building in Champaign, Illinois for sale.
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 high-traffic University Avenue with excellent visibility.; - Diverse tenant mix appealing to a broad customer base.; - Ample on-site parking for tenants and customers.
More about this property
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