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    601 Neil St Champaign, IL 61820

    Sponsored
    For Sale
    $400,000

    Prime 0.4-acre lot, near I-74 & UIUC.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 0.4-acre commercial land parcel, located at 601 N. Neil Street in Champaign, Illinois (APN: 422012265016), presents a compelling investment opportunity. Currently featuring a 2,367 square foot building, the property boasts ample parking and is ideally situated just minutes from Interstate 74, the vibrant downtown Champaign area, and the University of Illinois campus. Its strategic location allows for easy access to a large residential population and the significant daily influx of visitors to the area. The property's proximity to major thoroughfares and key destinations makes it highly attractive for a variety of commercial uses. While the existing building is present, the significant lot size offers considerable development potential. Interested parties are encouraged to inquire about any existing site restrictions. The asking price for this prime commercial land is $400,000. This is a rare chance to acquire a well-positioned property with significant upside in a thriving Illinois market.

    Property Features for 601 Neil St

    General Information

    Property type
    Land
    Lot Size
    17,424 SF

    HighLights

    • 0.4‑acre commercial lot at 601 N. Neil St, Champaign, IL (APN: 422012265016), listed at $400,000.
    • Includes a 2,367 sq ft building.
    • Ample parking available.
    • Minutes from I‑74, downtown Champaign, and the University of Illinois.
    • High development potential due to lot size.
    Property Profile Location Intelligence

    Current Use by Public Records

    Circle K Convenience Store Cardtronics ATM Atm

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.243524613006
    Latitude
    40.12139222608

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    FAQs

    What type of property is this?
    Land - Prime 0.4-acre lot, near I-74 & UIUC.
    Where is this land located?
    The property is located at 601 Neil St 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: 0.4-acre commercial lot at 601 N. Neil St, Champaign, IL (APN: 422012265016), listed at $400,000.; Includes a 2,367 sq ft building.; Ample parking available.
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    601 Neil St 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
    601 Neil St Champaign, IL 61820
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