Adaptive Reuse Retail
For Lease
Contact for pricing
500 N Market St, Champaign, IL 61820
Formerly repurposed for retail with finished demised spaces, ADA restrooms, and separate HVAC & electrical.
Space Size3,430 SF
Days on Market833
Property Features for 500 N Market St
General Information
Standard status
Active
Size
3,430 SF
Property subtype
RETAIL
Lease Type
Gross
Spaces For Lease
at 500 N Market St Contact us- Floor
- 1
- Size
- 3,430 SF
- Type
- RETAIL
- Lease Type
- GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
500 N Market St $27/SF/Yr
- Located downtown Champaign, this redevelopment is mixed-use featuring an attractive...
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Listing Agency:
Coldwell Banker Commercial Devonshire Realty
(217) 520-3299
Listed By:
AJ Thoma III
(217) 520-3299
Source:
Moodyscre
Added: May 10, 2024
Changed: Aug 8
Last Checked: Aug 20 at 12:36PM
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.
New Market Commons is a repurposed mixed-use retail redevelopment in downtown Champaign, totaling roughly 40,000 SF on a 1.5-acre site at the northeast edge of the revitalized Downtown Champaign. The project is designed to support destination-style tenants and includes adaptive re-use of the building with flexible layouts and character-forward architectural elements. Some spaces include outdoor seating and retail space.
Six retail tenant spaces are available, ranging from 1,782 SF to 5,990 SF. Construction and renovation began in spring 2018 and were completed in fall 2018. The property is positioned for walkability from a new major downtown residential development, with ample onsite parking for visitors and customers.
Space delivery is described as per elevations for storefronts, finished demised space, electrical and lighting to code, sealed concrete floors, an ADA restroom, and separate HVAC and electrical. Ownership is willing to consider additional buildout for qualified tenants. Property is broker owned.
Six retail tenant spaces are available, ranging from 1,782 SF to 5,990 SF. Construction and renovation began in spring 2018 and were completed in fall 2018. The property is positioned for walkability from a new major downtown residential development, with ample onsite parking for visitors and customers.
Space delivery is described as per elevations for storefronts, finished demised space, electrical and lighting to code, sealed concrete floors, an ADA restroom, and separate HVAC and electrical. Ownership is willing to consider additional buildout for qualified tenants. Property is broker owned.
Key Highlights
- New Market Commons is a roughly 40,000 SF mixed‑use redevelopment on a 1.5‑acre site at the northeast edge of Downtown Champaign.
- 6 tenant spaces available ranging from 1,782 SF to 5,990 SF.
- Construction/renovation began Spring 2018 and was completed in fall 2018.
Property 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
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
Market
Lease Benchmarks for Champaign, IL
$18.13 /SF/Yr
Avg Asking Price
$12–$25 /SF/Yr
Price Range
10,927 SF
Avg Space Size
This space is priced 49% above the average of $18.13 /SF/Yr.
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Formerly repurposed for retail with finished demised spaces, ADA restrooms, and separate HVAC & electrical.
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: New Market Commons is a roughly 40,000 SF mixed‑use redevelopment on a 1.5‑acre site at the northeast edge of Downtown Champaign.; 6 tenant spaces available ranging from 1,782 SF to 5,990 SF.; Construction/renovation began Spring 2018 and was completed in fall 2018.
