41 E University Avenue, Champaign, IL 61820
Historic building with retail, residential, and office space.
- Added:
- Dec 11, 2024
- Days on Market:
- 541
- Last Refresh:
- May 12 at 8:41 pm
Property Features for 41 E University Avenue
General Information
- Standard status
- Active
- Size
- 22,052 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1913
Listing agent Debby Auble
Listing office WARD & ASSOCIATES (217) 355-1000
Listing date Dec 11, 2024
Source Xome
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All listing content including descriptions, pricing, images are the copyrighted material of WARD & ASSOCIATES
HighLights
- High‑visibility location in the heart of Downtown Champaign with high traffic count.
- Rare stand‑alone building offering a perfect blend of retail, residential, and office space.
- Off‑street parking with potential for outdoor patio/dining space conversion.
- Historic Illinois Traction Building on the National Register of Historic Places (built in 1913).
- Proximity to Illinois Terminal hub (mass transit, inter‑city bus, and Amtrak) and the University of Illinois (55,000+ students).
- Located in a vibrant downtown area with restaurants, microbreweries, pubs, and a strong customer base.
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $383.7k | $17.40 |
| − Vacancy | −$84.4k | −$3.83 |
| EGI | $299.3k | $13.57 |
| − OpEx | −$74.8k | −$3.39 |
| NOI | $224.5k | $10.18 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Champaign
- County
- Champaign
- State
- Illinois
- Longitude
- -88.24219
- Latitude
- 40.116035