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    1701 Rion Dr Champaign, IL 61822

    Sponsored
    For Sale
    $675,000

    3.28-Acre Commercial Land in Champaign, IL

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 3.28-acre commercial lot, located at 1701 Rion Dr in Champaign, Illinois, presents a unique investment opportunity. Situated in the Olympian North Business Park, this fee-simple property boasts a prime location on the near north side of Champaign, conveniently accessible via Interstate-57, exit 328. The lot's strategic placement offers high visibility and easy access for businesses. Originally planned for a hotel, this parcel is ready for development, benefiting from existing infrastructure. The property is zoned CG Enterprise Zone and enjoys proximity to established businesses including a Dairy Queen Grille & Chill, Circle K, and a Microtel Inn by Wyndham, ensuring a thriving commercial environment. A significant advantage is its location at the first exit from I-57 northbound into Champaign, providing excellent access for customers and employees. Furthermore, a 4-acre lake borders the property to the south, offering an attractive natural amenity. The high daily traffic count of 24,700 vehicles on I-57 underscores the significant potential for commercial success. The asking price for this exceptional property is $675,000. The APN is 41-14-26-352-018.

    Property Features for 1701 Rion Dr

    General Information

    Property type
    Land
    Lot Size
    142,877 SF

    HighLights

    • 3.28‑acre commercial lot on I‑57 corridor.
    • First exit off I‑57 northbound into Champaign.
    • Adjacent to a 4‑acre lake.
    • Excellent location near Microtel Inn, Dairy Queen, and Circle K.
    • Ready for development with existing infrastructure.
    • High daily traffic count of 24,700 vehicles on I‑57.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Clothing Store Hotel & Motel Pharmacy Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.274089
    Latitude
    40.159209

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    FAQs

    What type of property is this?
    Land - 3.28-Acre Commercial Land in Champaign, IL
    Where is this land located?
    The property is located at 1701 Rion Dr Champaign, IL.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: 3.28-acre commercial lot on I-57 corridor.; First exit off I-57 northbound into Champaign.; Adjacent to a 4-acre lake.
    Request Owner's contact information
    1701 Rion Dr Champaign, IL 61822
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1701 Rion Dr Champaign, IL 61822
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