Downtown Champaign Retail
For Lease
Contact for pricing
500 N Market St, Champaign, IL
Redeveloped retail spaces in downtown Champaign, ranging from 1,782-5,990 SF.
Space Size1,782 SF - 4,143 SF
Lot Size1.08 Acres
Days on Market879
Property Features for 500 N Market St
General Information
Standard status
Active
Size
1,782 SF - 4,143 SF
Lot size
1.08 Acres
Property subtype
RETAIL
Lease Type
Gross
Spaces For Lease
at 500 N Market St Contact us500 N Market St $30/SF/Yr
Floor
1
Size
1,782 SF
Type
RETAIL
Lease Type
GROSS
Availability
AVAILABLE, 60 Days
Sublease
No
- Located downtown Champaign, this redevelopment is mixed-use featuring an attractive site design which exudes a vintage, urban industrial vibe. Perfect for destination retail, boutiques, art studios, galleries, coffee shops, breweries, and original restaurants, New Market Commons is set to become the premier social hub of Champaign. Additionally, adaptive re-use of the building ensures each tenants’ space has an atmosphere filled with character, unique architectural features, flexible layouts, and some with outdoor seating or retail space. Walk-ability from a new major downtown residential development and ample onsite parking make New Market Commons conveniently accessible to pedestrians and drivers a like. Come be a part of this exciting new development and reserve your space today!
New Market Commons is Champaign’s newest re-purposed building project consisting of roughly 40,000 SF on 1.5 acre site at the northeast edge of the revitalized Downtown Champaign. Currently there are 6 tenant spaces available from 1,782 SF to 5,990 SF. See floor plan and price list for more information. Construction/renovation began in Spring 2018 and were completed by in fall 2018. Individual spaces to be delivered as per the following: Storefront per elevations, Finished demised space, Electrical and Lighting to code, Sealed concrete floor, 1 ADA restroom, and separate HVAC & Electrical. Ownership is willing to consider additional buildout for qualified tenants.
Property is broker owned.
Contact us 500 N Market St $20/SF/Yr
Floor
1
Size
4,143 SF
Type
RETAIL
Lease Type
GROSS
Availability
AVAILABLE, Now
Sublease
No
- Located downtown Champaign, this redevelopment is mixed-use featuring an attractive site design which exudes a vintage, urban industrial vibe. Perfect for destination retail, boutiques, art studios, galleries, coffee shops, breweries, and original restaurants, New Market Commons is set to become the premier social hub of Champaign. Additionally, adaptive re-use of the building ensures each tenants’ space has an atmosphere filled with character, unique architectural features, flexible layouts, and some with outdoor seating or retail space. Walk-ability from a new major downtown residential development and ample onsite parking make New Market Commons conveniently accessible to pedestrians and drivers a like. Come be a part of this exciting new development and reserve your space today!
New Market Commons is Champaign’s newest re-purposed building project consisting of roughly 40,000 SF on 1.5 acre site at the northeast edge of the revitalized Downtown Champaign. Currently there are 6 tenant spaces available from 1,782 SF to 5,990 SF. See floor plan and price list for more information. Construction/renovation began in Spring 2018 and were completed by in fall 2018. Individual spaces to be delivered as per the following: Storefront per elevations, Finished demised space, Electrical and Lighting to code, Sealed concrete floor, 1 ADA restroom, and separate HVAC & Electrical. Ownership is willing to consider additional buildout for qualified tenants.
Property is broker owned.
Contact us 500 N Market St $27/SF/Yr
Floor
1
Size
2,560 SF
Type
RETAIL
Lease Type
GROSS
Availability
AVAILABLE, Now
Sublease
No
- Located downtown Champaign, this redevelopment is mixed-use featuring an attractive site design which exudes a vintage, urban industrial vibe. Perfect for destination retail, boutiques, art studios, galleries, coffee shops, breweries, and original restaurants, New Market Commons is set to become the premier social hub of Champaign. Additionally, adaptive re-use of the building ensures each tenants’ space has an atmosphere filled with character, unique architectural features, flexible layouts, and some with outdoor seating or retail space. Walk-ability from a new major downtown residential development and ample onsite parking make New Market Commons conveniently accessible to pedestrians and drivers a like. Come be a part of this exciting new development and reserve your space today!
New Market Commons is Champaign’s newest re-purposed building project consisting of roughly 40,000 SF on 1.5 acre site at the northeast edge of the revitalized Downtown Champaign. Currently there are 6 tenant spaces available from 1,782 SF to 5,990 SF. See floor plan and price list for more information. Construction/renovation began in Spring 2018 and were completed by in fall 2018. Individual spaces to be delivered as per the following: Storefront per elevations, Finished demised space, Electrical and Lighting to code, Sealed concrete floor, 1 ADA restroom, and separate HVAC & Electrical. Ownership is willing to consider additional buildout for qualified tenants.
Property is broker owned.
Contact us 500 N Market St $27/SF/Yr
Floor
1
Size
3,430 SF
Type
RETAIL
Lease Type
GROSS
Availability
AVAILABLE, Now
Sublease
No
- Located downtown Champaign, this redevelopment is mixed-use featuring an attractive site design which exudes a vintage, urban industrial vibe. Perfect for destination retail, boutiques, art studios, galleries, coffee shops, breweries, and original restaurants, New Market Commons is set to become the premier social hub of Champaign. Additionally, adaptive re-use of the building ensures each tenants’ space has an atmosphere filled with character, unique architectural features, flexible layouts, and some with outdoor seating or retail space. Walk-ability from a new major downtown residential development and ample onsite parking make New Market Commons conveniently accessible to pedestrians and drivers a like. Come be a part of this exciting new development and reserve your space today!
New Market Commons is Champaign’s newest re-purposed building project consisting of roughly 40,000 SF on 1.5 acre site at the northeast edge of the revitalized Downtown Champaign. Currently there are 6 tenant spaces available from 1,782 SF to 5,990 SF. See floor plan and price list for more information. Construction/renovation began in Spring 2018 and were completed by in fall 2018. Individual spaces to be delivered as per the following: Storefront per elevations, Finished demised space, Electrical and Lighting to code, Sealed concrete floor, 1 ADA restroom, and separate HVAC & Electrical. Ownership is willing to consider additional buildout for qualified tenants.
Property is broker owned.
Contact us
Listing Agency:
Coldwell Banker Commercial Devonshire Realty
(217) 352-7712
Listed By:
AJ Thoma III
(217) 520-3299
Source:
Moodyscre
Added: May 10, 2024
Changed: Sep 5
Last Checked: Oct 4 at 9:26AM
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 Coldwell Banker Commercial Devonshire Realty
Investment Insights
Based on property information with market context.
Located in downtown Champaign, this mixed-use redevelopment features an attractive site design with a vintage, urban industrial vibe. New Market Commons is intended to become a premier social hub, suitable for destination retail, boutiques, art studios, galleries, coffee shops, breweries, and original restaurants. The adaptive re-use of the building ensures each tenant space has an atmosphere filled with character, unique architectural features, and flexible layouts, with some spaces offering outdoor seating or retail areas. The property benefits from walk-ability from a new major downtown residential development and ample on-site parking, making it accessible to both pedestrians and drivers. New Market Commons is a re-purposed building project consisting of roughly 40,000 square feet on a 1.5-acre site at the northeast edge of the revitalized Downtown Champaign. Currently, there are 6 tenant spaces available, ranging from 1,782 square feet to 5,990 square feet. Construction and renovation began in Spring 2018 and were completed in Fall 2018. Individual spaces are delivered with storefront elevations, finished demised space, electrical and lighting to code, sealed concrete floors, one ADA restroom, and separate HVAC and electrical systems. The owner is willing to consider additional build-out for qualified tenants.
Key Highlights
- Located in downtown Champaign, poised to become the premier social hub.
- Mixed‑use redevelopment suitable for retail, boutiques, art studios, galleries, coffee shops, breweries, and restaurants.
- Vintage, urban industrial design with unique architectural features and flexible layouts.
Property Analytics
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Open Analytics
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$4.05 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
2,023
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,553 visits/mo
0.4 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Lease Benchmarks for Champaign, IL
$19 /SF/Yr
Avg Asking Price
$17–$23 /SF/Yr
Price Range
9,306 SF
Avg Space Size
This space is priced 42% above the average of $19 /SF/Yr.
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Redeveloped retail spaces in downtown Champaign, ranging from 1,782-5,990 SF.
Where is this retail space located?
The property is located at 500 N Market St Champaign, IL.
What is the lease rate?
The lease rate is $27 SF/Yr.
What are key features of this property?
This property features: Located in downtown Champaign, poised to become the premier social hub.; Mixed‑use redevelopment suitable for retail, boutiques, art studios, galleries, coffee shops, breweries, and restaurants.; Vintage, urban industrial design with unique architectural features and flexible layouts.
