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    6 Taylor St E Champaign, IL 61820

    Sponsored
    For Lease
    Contact for pricing

    COMMERCIAL - Champaign, IL

    Type:Retail
    Property size:
    2,688 SF
    Lot size:
    0.08 Acres
    Days on Market:
    5
    Last Refresh:
    Mar 2 at 5:06 am

    Property Features for 6 Taylor St E

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    COMMR
    Size
    2,688 SF
    Lot size
    0.08 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1915
    Floors in Building
    2
    Number of units
    2

    We can help!

    Listing Contact
    Shannon Collins
    Shannon Collins

    Green Street Realty (217) 356-8750

    Listing agent Shannon Collins (217) 493-3776

    Listing date Feb 26, 2026

    MLS# 12578107

    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

    Downtown Champaign Commercial Space Available

    Located in downtown Champaign, this 2,688 SF main floor space on Taylor Street is suited for a bar, restaurant, or entertainment venue. The property is in an area with offices, retail spaces, apartments, condominiums, restaurants, and entertainment options. Formerly Cowboy Monkey, the space is configured for bar/restaurant use with an open, U-shaped layout and a main bar area. It features hardwood flooring, plaster walls, high ceilings with a retained tin finish, and a raised stage/platform area on the north side. The stage can be removed, and its retention is negotiable as part of the lease terms. The space can be converted back into a restaurant. The existing structure supports the installation of a hood system. The space includes four restrooms, a sprinkler system, and two entrances from Taylor Street. Constructed in 1915, the masonry building is zoned CB - Central Business District, allowing for various commercial uses. The property has forced warm air natural gas heat, central air conditioning, and electrical service estimated at 200 amps or greater. The lot size is 0.0826 acres. Ample public and private parking is available nearby. The building offers a historic space in a walkable downtown location with commercial and residential density.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cowboy Monkey Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    The Alamo, T.W. Tavern, Green Street Cafe, Nut Tree Inc, Illini Inn

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.243073
    Latitude
    40.11754

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    FAQs

    What type of property is this?
    Bar - Prime 2,688 SF space in vibrant downtown Champaign.
    Where is this bar located?
    The property is located at 6 Taylor St E Champaign, IL.
    What are key features of this property?
    This property features: - Prime downtown location on a pedestrian-oriented street with high visibility and foot traffic.; - Ideal for bar, restaurant, or entertainment venue due to existing configuration and features.; - Spacious 2,688 SF main floor space with character-rich, historic features like hardwood floors and tin ceilings.
    (217) 356-8750
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    6 Taylor St E Champaign, IL 61820
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    6 Taylor St E Champaign, IL 61820
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    We can help!
    Listing Contact
    Shannon Collins
    Shannon Collins
    Real Estate License ID: ILLINOIS475.178418
    (217) 356-8750 (217) 493-3776
    Learn more
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