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    214 Walnut St Champaign, IL 61820

    Sponsored
    For Sale
    $2,100,000

    Prime 0.67-acre development site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 0.67-acre commercial land parcel, located at 214 S Walnut St in Champaign, IL (zip code 61820), presents a rare development opportunity. Situated at the convergence of Downtown, Midtown, and Campustown, this property offers unparalleled access to a vibrant community with over 56,000 students and 15,000+ faculty and staff at the nearby University of Illinois. The site is zoned CB2 – Central Business Downtown, allowing for a maximum building height of 115 feet, with no setback, open space reserve (OSR), or floor-to-area ratio (FAR) requirements. The property includes two existing vacant buildings (built between 1945 and 1980) and benefits from its location within a Tax Increment Financing (TIF) District and Enterprise Zone. Its prime location is bordered by major thoroughfares: the Illinois Terminal to the north, Neil Street to the west, and Springfield Avenue to the south, ensuring excellent visibility and accessibility. The asking price for this 28,970 square foot lot is $2,100,000. This presents a unique chance to develop a significant project in a high-demand area.

    Property Features for 214 Walnut St

    General Information

    Property type
    Land
    Lot Size
    29,185 SF

    HighLights

    • Exceptional Redevelopment Potential
    • Prime Location within Tax Increment Financing (TIF) & Enterprise Zone
    • Versatile Zoning Allows for Multiple Uses
    • Strategic Intersection of Downtown, Midtown, and Campustown
    Property Profile Location Intelligence

    Current Use by Public Records

    Rogards Office Supply Store

    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
    -88.2430259
    Latitude
    40.1144411

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    FAQs

    What type of property is this?
    Land - Prime 0.67-acre development site
    Where is this land located?
    The property is located at 214 Walnut St Champaign, IL.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: Exceptional Redevelopment Potential; Prime Location within Tax Increment Financing (TIF) & Enterprise Zone; Versatile Zoning Allows for Multiple Uses
    (217) 403-3424
    Request Owner's contact information
    214 Walnut 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
    214 Walnut St Champaign, IL 61820
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