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    48 Main St Champaign, IL 61820

    Sponsored
    For Lease
    $15 SF/Yr ($20,000 /Mo)

    16,000 SF Mixed-Use Building, Fully Vacant

    Lot size:
    16,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 16,000-square-foot mixed-use building in downtown Champaign, Illinois, offers a unique opportunity. Originally constructed in 1915 and renovated in 2018, the property boasts 8,000 square feet per floor, including an 8,000-square-foot basement suitable as an accessory to the first-floor retail space. The second floor features expansive windows on three sides and 20-foot clear open ceilings, adaptable to various tenant needs. Currently undergoing renovations, the building will be delivered as a "vanilla box," ready for tenant build-out. Located in the heart of downtown Champaign, this property benefits from its prime location amidst numerous restaurants, bars, shops, and vibrant cultural attractions. The building's CB2 zoning allows for a variety of uses. The property's APN is 42-20-12-437-001. The minimum divisible space is 8,000 square feet, with a maximum contiguous space of 16,000 square feet. The building consists of a single suite, currently entirely vacant. Its vintage, urban industrial design blends seamlessly with the surrounding area's character, making it an attractive option for businesses seeking a high-visibility location in a thriving downtown environment. The walkability of the area and the abundance of nearby amenities contribute to its sustainability and appeal.

    Property Features for 48 Main St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    16,000 SF
    Total Rate
    20000

    Building Details

    Year Built/Renovated
    1915/2018

    Unit(s) available at that property

    Space
    1st Floor
    Size
    16,000 SF
    Rate per SF
    $15

    HighLights

    • Redevelopment Opportunity
    • High Ceilings
    • Abundant Natural Light
    • Flexible Floorplan
    Property Profile Location Intelligence

    Current Use by Public Records

    Food For Seniors - Food ... Food Bank

    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
    -88.2412445
    Latitude
    40.1173385

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    FAQs

    What type of property is this?
    Office Property / Space - 16,000 SF Mixed-Use Building, Fully Vacant
    Where is this office property / space located?
    The property is located at 48 Main St Champaign, IL.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Redevelopment Opportunity; High Ceilings; Abundant Natural Light
    Request Owner's contact information
    48 Main 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
    48 Main St Champaign, IL 61820
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