Downtown Champaign Retail/Office
For Lease
Contact for pricing
500 N Walnut St, Champaign, IL 61820
Revitalized mixed-use building with spaces for retail and office tenants.
Space Size1,782 SF - 4,143 SF
Property Size38,540 SF
Lot Size1.50 Acres
Days on Market2954
Property Features for 500 N Walnut St
General Information
Standard status
Active
Size
1,782 SF - 4,143 SF
Lot size
1.50 Acres
Property subtype
Retail, Office
Lease Type
Gross
Building Details
Building Size
38,540 SF
Tenancy
Multiple
Spaces For Lease
at 500 N Walnut St Contact us- Size
- 3,430 SF
- Type
- Retail
- Lease Type
- Gross
- Availability
- Active
Suite 101
- Size
- 2,560 SF
- Type
- Retail
- Lease Type
- Gross
- Availability
- Active
Suite 102
- Size
- 1,782 SF
- Type
- Office, Retail
- Lease Type
- Gross
- Availability
- Active
Suite 109
- Size
- 4,143 SF
- Type
- Retail
- Lease Type
- Gross
- Availability
- Active
Suite 201-202
Listing Agency:
Coldwell Banker Commercial Devonshire Realty
(217) 403-3425
Listed By:
AJ Thoma III, CCIM, SIOR · License #IL475.135026
Source:
Crexi
Added: Aug 1, 2018
Changed: Aug 28
Last Checked: Aug 28 at 5:35PM
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 re-purposed building project in downtown Champaign, offering roughly 40,000 square feet of space on a 1.5-acre site. There are currently 6 tenant spaces available, ranging from 1,782 to 5,990 square feet. Construction and renovation began in Spring 2018 and were completed by fall 2018. Individual spaces are delivered with storefronts, finished demised space, electrical and lighting to code, sealed concrete floors, one ADA restroom, and separate HVAC & Electrical. The ownership is willing to consider additional buildout for qualified tenants. The redevelopment is mixed-use, featuring a site design with a vintage, urban industrial vibe. It is suitable for destination retail, boutiques, art studios, galleries, coffee shops, breweries, and original restaurants, and is intended to become a social hub of Champaign. The adaptive re-use of the building provides each tenant’s space with character, unique architectural features, flexible layouts, and some with outdoor seating or retail space. The property is accessible to pedestrians and drivers, with walk-ability from a new major downtown residential development and ample onsite parking. Traffic counts are 7,800 VPD on Washington St. and 8,250 VPD on Walnut/Market St.
Key Highlights
- Located in revitalized Downtown Champaign, set to become a premier social hub.
- Adaptive re‑use building with unique architectural features and flexible layouts.
- Ample on‑site parking and walkability from new residential development.
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$3.00 /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
$18.5 /SF/Yr
Avg Asking Price
$15–$23 /SF/Yr
Price Range
9,919 SF
Avg Space Size
This space is priced 8% above the average of $18.5 /SF/Yr.
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Revitalized mixed-use building with spaces for retail and office tenants.
Where is this retail space located?
The property is located at 500 N Walnut St Champaign, IL.
What is the lease rate?
The lease rate is $20 SF/Yr.
What are key features of this property?
This property features: Located in revitalized Downtown Champaign, set to become a premier social hub.; Adaptive re‑use building with unique architectural features and flexible layouts.; Ample on‑site parking and walkability from new residential development.
