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    205 Neil St Champaign, IL 61820

    Sponsored
    For Lease
    $14 SF/Yr ($5,430 /Mo)

    4,655 SF, Newly Renovated, Customizable

    Lot size:
    4,655 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 4,655-square-foot Class A office space, located at 205 N Neil St in Downtown Champaign, IL 61820, is a blank vanilla box ready for build-to-suit customization. The two-story building, renovated in 2024, offers a single-tenant occupancy and is ideally suited for a variety of uses including traditional office, executive office, coworking, medical office, or creative office spaces. The space boasts expansive ceiling heights, over 4,000 square feet of basement storage, and is ADA compliant. Modern heating and cooling systems ensure year-round comfort. Its prime downtown location provides easy access to public transportation, ample parking, and numerous nearby amenities. This versatile space presents a unique opportunity to create a perfectly tailored workspace to meet specific business needs. The property is situated in a mixed-use building within the vibrant Downtown Champaign submarket. Note that this property is eligible for consideration under the Illinois Back to Business (B2B) program, offering potential grant funding opportunities for qualifying businesses.

    Property Features for 205 Neil St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,655 SF
    Class
    A
    Total Rate
    5430.83

    Building Details

    Year Renovated
    2024
    Stories
    2

    Unit(s) available at that property

    Space
    Size
    4,655 SF
    Rate per SF
    $22
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.24355522
    Latitude
    40.11764724

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    FAQs

    What type of property is this?
    Restaurant - 4,655 SF, Newly Renovated, Customizable
    Where is this restaurant located?
    The property is located at 205 Neil St Champaign, IL.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    Request Owner's contact information
    205 Neil St Champaign, IL 61820
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    Champaign, IL 61820
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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
    205 Neil St Champaign, IL 61820
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