Commercial Land with Existing
New
For Sale
$400,000
505 N Walnut Street, Champaign, IL 61820
Commercial Sale, Champaign, IL
Property SizeContact for details
Lot Size0.38 Acres
Days on Market3
Property Features for 505 N Walnut Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
N Walnut St Between e Washington and E Columbia
Subdivision
Champaign, Savoy
Standard status
Active
APN
422012284015
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lots 5, 8 Block 22 Galloway and Smith's Add
Tax Annual Amount
4112
Legal Description
Lots 5, 8 Block 22 Galloway and Smith's Add
Building Details
Year built
1978
Floors in Building
1
Number of units
1
Building materials
Wood, Masonite
Roof type
Composition
Listing Agency:
KELLER WILLIAMS-TREC · Keller Williams Realty
(217) 356-6100
Listed By:
Joe Zalabak · License #475151471
(217) 721-5855
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 16 at 2:06PM
MLS# 12785753
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This commercial land parcel in downtown Champaign includes a vacant building of nearly 3,000 square feet. The structure was formerly used as an automotive repair shop and was built in 1978, with wood and Masonite construction and a composition roof.
The property is located at 505 N Walnut Street in Champaign, Illinois.
The property is located at 505 N Walnut Street in Champaign, Illinois.
Key Highlights
- Vacant building of nearly 3,000 square feet
- Existing structure formerly used as an automotive repair shop
- Built in 1978
Property Analytics
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Current Use
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
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial land - A vacant former automotive repair building stands on the parcel, providing an existing structure alongside the land.
Where is this commercial land located?
The property is located at 505 N Walnut Street Champaign, IL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Vacant building of nearly 3,000 square feet; Existing structure formerly used as an automotive repair shop; Built in 1978
