Single-Story Leased Office
For Sale
$1,464,000
2237 S Neil St, Champaign, IL 61820
Professionally maintained office property with a flexible layout and established occupancy.
Property Size7,320 SF
Days on Market83
Property Features for 2237 S Neil St
General Information
Standard status
Active
Size
7,320 SF
Property subtype
Office - General Office
Building Details
Building Size
7,320 SF
Listing Agency:
Coldwell Banker Commercial Devonshire Realty
Listed By:
AJ Thoma III
(217) 352-7712
Source:
Commercialcafe
Added: Jul 26
Changed: Oct 6
Last Checked: Oct 16 at 6:03AM
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
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Investment Insights
Based on property information with market context.
Located at 2237 S. Neil Street in Champaign, this 7,320 RSF office building offers a single-level configuration tailored to professional operations. The interior includes a reception area, 21 private offices, workstations, a conference room, breakroom, and additional support areas.
The property is 100% leased to Wells Fargo Advisors, with two years remaining on the current lease. Professionally maintained grounds and attractive landscaping complement the building’s presence along the South Neil Street corridor, which records 18,000 daily vehicles.
The property is 100% leased to Wells Fargo Advisors, with two years remaining on the current lease. Professionally maintained grounds and attractive landscaping complement the building’s presence along the South Neil Street corridor, which records 18,000 daily vehicles.
Key Highlights
- 7,320 RSF single‑story office building
- 100% leased to Wells Fargo Advisors
- Two years remaining on the current lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,510
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,490,200
$1.5M
Cap Rate 7%
$1,064,429
$1.1M
Cap Rate 9%
$827,889
$827.9K
Market Conditions
NOI Build-Up for 7,320 SF
Gross rent
$127.4K $17.40/SF
− Vacancy
−$28.0K −$3.83/SF
EGI
$99.3K $13.57/SF
− OpEx
−$24.8K −$3.39/SF
NOI
$74.5K $10.18/SF
Area
Champaign County, IL
Vacancy
22.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,490,200
Cap Rate 7%
$1,064,429
Cap Rate 9%
$827,889
Alternative Uses
Best Use
Office B
$1.06M
$931.4K – $1.24M
NOI $74,510 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,603 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,142
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Professionally maintained office property with a flexible layout and established occupancy.
Where is this office building located?
The property is located at 2237 S Neil St Champaign, IL.
What is the asking price?
The asking price for this property is $1,464,000.
What are key features of this property?
This property features: 7,320 RSF single‑story office building; 100% leased to Wells Fargo Advisors; Two years remaining on the current lease
