Restaurant and Residential
For Sale
Contact for pricing
10 E CHESTER ST, Champaign, IL 61820
Two-level property combines an established restaurant with a large two-bedroom residential unit.
Property Size7,000 SF
Price / SF$171.43
Days on Market137
Property Features for 10 E CHESTER ST
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Retail, Office
Zoning
CB2
Building Details
Year Built
1915
Year Renovated
2015
Buildings
1
Units
1
Listing Agency:
Guth & Associates
Listed By:
Maggie Pitcher · License #475.212357
(217) 355-2545
Source:
Crexi
Added: Jun 2
Changed: Oct 6
Last Checked: Oct 16 at 6:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Guth & Associates
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Investment Insights
Based on property information with market context.
Built in 1915, this approximately 7,000-square-foot mixed-use property places a restaurant on the ground floor and a residential unit above. The commercial space has been renovated for restaurant operations and includes a custom pizza oven, dining areas, and a private dining room. Restaurant equipment may be available separately as part of the transaction.
The second floor contains an approximately 3,500-square-foot unit with two bedrooms and two bathrooms. It is currently operated as an Airbnb and benefits from demand associated with University of Illinois sporting events, graduation weekends, and other campus activities. The property is situated in downtown Champaign, directly across from the City of Champaign Municipal Building, with on-street parking in front. CB2 zoning and the existing mixed-use configuration support both commercial and residential occupancy.
The second floor contains an approximately 3,500-square-foot unit with two bedrooms and two bathrooms. It is currently operated as an Airbnb and benefits from demand associated with University of Illinois sporting events, graduation weekends, and other campus activities. The property is situated in downtown Champaign, directly across from the City of Champaign Municipal Building, with on-street parking in front. CB2 zoning and the existing mixed-use configuration support both commercial and residential occupancy.
Key Highlights
- Approximately 7,000 SF mixed‑use building built in 1915
- Ground‑floor restaurant with custom pizza oven and private dining room
- Approximately 3,500 SF second‑floor residential unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,098
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,581,960
$1.6M
Cap Rate 7%
$1,129,971
$1.1M
Cap Rate 9%
$878,867
$878.9K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$111.7K $15.96/SF
− Vacancy
−$6.3K −$0.89/SF
EGI
$105.5K $15.07/SF
− OpEx
−$26.4K −$3.77/SF
NOI
$79.1K $11.30/SF
Area
Champaign County, IL
Vacancy
5.60%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,581,960
Cap Rate 7%
$1,129,971
Cap Rate 9%
$878,867
Alternative Uses
Best Use
Specialty Retail
$1.13M
$988.7K – $1.32M
NOI $79,098 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$771.2K
$674.8K – $899.8K
NOI $53,985 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,942 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,534
Businesses Nearby
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Business Placement
Demographics for 61820, IL
40,822
Population
18,672
Households
2.2
Avg Household Size
25
Median Age
55%
College-Educated
93%
High-School Grad
5.9 sq mi
ZIP Area
6,919
Density / Sq Mi
$31,031
Median Household Income
$14,828
Median Earnings
$1,077
Median Rent
$175,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combines an established restaurant with a large two-bedroom residential unit.
Where is this mixed-use property located?
The property is located at 10 E CHESTER ST Champaign, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 7,000 SF mixed‑use building built in 1915; Ground‑floor restaurant with custom pizza oven and private dining room; Approximately 3,500 SF second‑floor residential unit
