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    402 W Griggs St Urbana, IL 61801

    Sponsored
    For Sale
    $599,000

    Land - Urbana, IL

    Lot size:
    1.08 Acres
    Days on Market:
    149
    Last Refresh:
    Jan 5 at 8:06 am

    Property Features for 402 W Griggs St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    912108379005
    Lot size
    1.08 Acres

    Building Details

    Architectural style
    Other

    RE/MAX Realty Associate (217) 373-4964 [email protected]

    Listing agent Michael Cross (217) 373-4964 License #475142215

    Listing date Aug 10, 2025

    MLS# 12438439 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Urbana Development Land

    This is a one-acre parcel of land suitable for development. The property is located within a few blocks of Lincoln Avenue in the University of Illinois Corridor, directly south of Carle Hospital, and near downtown Urbana. The frontage extends from Central Street to McCullough Street and goes back to the tracks, creating a very deep lot. The property is ideal for multi-unit apartments or commercial development. It is the largest lot near campus available for development and spans a city block.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Spa & Massage Restaurant 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
    Urbana
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2121097
    Latitude
    40.1147951

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    FAQs

    What type of property is this?
    Commercial land - One acre of development land near University of Illinois corridor.
    Where is this commercial land located?
    The property is located at 402 W Griggs St Urbana, IL.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: - Prime 1-acre development land near the University of Illinois campus.; - Spectacular location: close to Lincoln Avenue, Carle Hospital, and downtown Urbana.; - Largest lot near campus for development.
    (217) 637-9594
    Request Owner's contact information
    402 W Griggs St Urbana, IL 61801
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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
    402 W Griggs St Urbana, IL 61801
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