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    12 Main St Champaign, IL 61820

    Sponsored
    For Lease
    $15 SF/Yr

    Prime Retail/Office, 2531 sq ft

    Lot size:
    2,531 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 2531-square-foot retail/office space is located in the vibrant heart of Downtown Champaign, Illinois. Currently undergoing a complete exterior facade restoration, the property will feature a stunning new storefront and glazing, returning it to its original architectural glory. The first floor comprises two combined retail units, offering a flexible, open layout ideal for a variety of businesses. Amenities include a restroom and ample backroom storage. The space can be delivered as a "vanilla box" or with a substantial tenant improvement allowance, providing flexibility to suit individual business needs. The second floor is currently under conversion into multiple apartments, presenting a unique opportunity for a synergistic business model. This prime location benefits from its proximity to a diverse range of amenities, including numerous restaurants, bars, cafes, hotels, and a robust retail sector. Its strategic position within two miles of the University of Illinois campus ensures a constant flow of students, faculty, and visitors, creating a strong and diverse customer base. The property is managed by a leading Central Illinois commercial property management firm, ensuring seamless operations and professional management. This is a rare opportunity to secure a high-profile space in a thriving downtown area with significant potential for growth and success.

    Property Features for 12 Main St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,531 SF

    Unit(s) available at that property

    Space
    Size
    2,531 SF
    Rate per SF
    $22

    HighLights

    • 2,531 SF of first‑floor retail/office space in Downtown Champaign.
    • Building undergoing extensive facade improvements, including new glazing and upgraded storefront.
    • Two retail units available, combinable for a total of 2,531 SF; includes open space, restroom, and storage.
    • Second floor is being converted into apartments (potential for inclusion).
    • Space can be delivered as a vanilla box or with tenant improvement allowance; managed by a premier Central Illinois commercial property management firm.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -88.242749656728
    Latitude
    40.118080304074

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    FAQs

    What type of property is this?
    Retail property - Prime Retail/Office, 2531 sq ft
    Where is this retail property located?
    The property is located at 12 Main St Champaign, IL.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: 2,531 SF of first-floor retail/office space in Downtown Champaign.; Building undergoing extensive facade improvements, including new glazing and upgraded storefront.; Two retail units available, combinable for a total of 2,531 SF; includes open space, restroom, and storage.
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    12 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
    12 Main St Champaign, IL 61820
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