Redevelopment Parcel Assemblage with
507 West Springfield Avenue Urbana, IL 61801
507 West Springfield Avenue, Urbana, IL, 61801
$550,000
For Sale
$550,000
Assembled parcels totaling 0.54 acres include a zoned office building and an on-grade parking lot.
Property Size23,320 SF
Lot Size0.54 Acres
Price / SF$23.58
Days on Market40
Property Features for 507 West Springfield Avenue
General Information
- Standard status
- Active
- Size
- 23,320 SF
- Lot size
- 0.54 Acres
Building Details
- Year Built
- 1965
Listing agency
KELLER WILLIAMS-TREC
(217) 356-6100
Listed by
Joe Zalabak · License #475151471
(217) 356-6100
Source
Compass
Added: Jun 13 Updated: Jul 21 at 9:47PM Checked: Jul 21 at 9:47PM
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 KELLER WILLIAMS-TREC
Investment Insights
Based on property information with market context.
This assembled redevelopment package includes 510 W Elm Street and 507 W Springfield Avenue, totaling approximately 0.54 acres. The offering comprises a 0.41-acre on-grade parking lot at 510 W Elm Street, zoned Mixed Office Residential (MOR), along with 507 W Springfield Avenue, a 0.13-acre parcel improved with an approximately 2,000-square-foot office building.
The properties are located in downtown Urbana, just minutes from the University of Illinois campus, and are surrounded by downtown amenities and activity. The MOR and B-2 Neighborhood Business–Arterial District zoning designations support a range of residential and commercial development concepts, including mixed-use configurations combining business and residential uses within the same development.
Site assembly is already complete, streamlining the land acquisition step for developers evaluating a new mixed-use or residential-forward project on these contiguous parcels.
The properties are located in downtown Urbana, just minutes from the University of Illinois campus, and are surrounded by downtown amenities and activity. The MOR and B-2 Neighborhood Business–Arterial District zoning designations support a range of residential and commercial development concepts, including mixed-use configurations combining business and residential uses within the same development.
Site assembly is already complete, streamlining the land acquisition step for developers evaluating a new mixed-use or residential-forward project on these contiguous parcels.
Key Highlights
- Redevelopment assemblage in downtown Urbana totaling 0.54 acres (510 W Elm St and 507 W Springfield Ave).
- 510 W Elm St: 0.41‑acre on‑grade parking lot zoned Mixed Office Residential (MOR).
- 507 W Springfield Ave: 0.13‑acre parcel improved with an approximately 2,000 SF office building.
Property Analytics
Location Intelligence
Current Use by Public Records
MacKichan Counseling
Foster Care Service
George W. Cook, ...
Foster Care Service
Joanna Kling M.Ed., ...
Counselor
Cognition Works Inc
Family Counselor
Mr. Tim Shea
Foster Care Service
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Assembled parcels totaling 0.54 acres include a zoned office building and an on-grade parking lot.
Where is this mixed-use property located?
The property is located at 507 West Springfield Avenue Urbana, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Redevelopment assemblage in downtown Urbana totaling 0.54 acres (510 W Elm St and 507 W Springfield Ave).; 510 W Elm St: 0.41‑acre on‑grade parking lot zoned Mixed Office Residential (MOR).; 507 W Springfield Ave: 0.13‑acre parcel improved with an approximately 2,000 SF office building.
