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500 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.

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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.

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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.

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500 N Market St $27/SF/Yr

Floor

1

Size

2,806 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.

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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.

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500 N Market St $30/SF/Yr

Floor

1

Size

1,792 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.

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Listing Agency: Coldwell Banker Commercial Devonshire Realty a**@cbcdr.com Show Phone

Listed By: AJ Thoma III Show Phone

Source: Moodyscre

Added: May 10, 2024 Changed: Aug 9 Last Checked: Aug 17 at 6:02AM

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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

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Auto Parts Store Storage Facility Electrical Service Grocery & Convenience Store Big Box & Wholesale Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

$4.05 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

2,846

Businesses Nearby

27k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 80% Shops & Services 12% Dining 9%

County Market Groceries

21,552 visits/mo 0.5 miles

AutoZone Shops & Services

3,134 visits/mo 0.4 miles

Papa John's Pizza Dining

2,333 visits/mo 0.5 miles

Market

Lease Benchmarks for Champaign, IL

$18.44 /SF/Yr

Avg Asking Price

$12–$25 /SF/Yr

Price Range

11,101 SF

Avg Space Size

This space is priced 46% above the average of $18.44 /SF/Yr.

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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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.