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    505-517 E University Ave Champaign, IL 61820

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    For Lease
    $3,000,000

    Multi-tenant building with high visibility and ample parking.

    Property size:
    1,400 SF
    Lot size:
    0.80 Acres

    Property Features for 505-517 E University Ave

    General Information

    Size
    1,400 SF
    Lot size
    0.80 Acres

    Source: Coldwell Banker Commercial Devonshire Realty Agent Jay Sikorski

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multi-Tenant Building on University Avenue

    This multi-tenant building features a liquor store, an international fast-food restaurant, and a therapy center. The available space is in vanilla box condition, ready for customization. On-site parking is available. The property benefits from high visibility on University Avenue, which ensures significant foot traffic and exposure. The property has a size of 1400 square feet.
    Location Intelligence

    Current Use by Public Records

    Retail space

    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.

    Similar Places Nearby

    Johnstowne Center

    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?
    Shopping center - Multi-tenant building with high visibility and ample parking.
    Where is this shopping center located?
    The property is located at 505-517 E University Ave Champaign, IL.
    What are key features of this property?
    This property features: - Excellent visibility from University Avenue ensures high foot traffic and exposure.; - Versatile multi-tenant building currently houses a liquor store, international fast-food restaurant, and therapy center.; - Attractive and diverse leasing opportunity.
    (217) 369-6643
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    505-517 E University Ave Champaign, IL 61820
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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
    505-517 E University Ave Champaign, IL 61820
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