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    1101 Prospect Ave Champaign, IL 61820

    Sponsored
    For Sale
    $500,000

    High-visibility commercial lot, I-74 access.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 0.44-acre commercial land parcel, located at 1101 N. Prospect Ave. in Champaign, Illinois (APN 412011230020), presents a compelling investment opportunity. Priced at $500,000, the property boasts a prime location just minutes from Interstate 74, offering unparalleled accessibility and visibility. The site currently features a 3,014 square foot building and an additional structure, previously used as a car wash. Ample parking is available, enhancing the property's appeal for a variety of commercial uses. The corner location at Prospect and Bradley Avenues ensures high traffic exposure. While the property offers significant potential, prospective buyers are encouraged to inquire about any existing site restrictions. This is an ideal opportunity to capitalize on the strong commercial activity in this thriving Champaign, Illinois location. The property's size and strategic positioning make it suitable for a range of commercial developments. Serious inquiries are welcome.

    Property Features for 1101 Prospect Ave

    General Information

    Property type
    Land
    Lot Size
    19,166 SF

    HighLights

    • 0.44‑acre commercial lot at 1101 N. Prospect Ave., Champaign, IL (APN 412011230020), priced at $500,000.
    • Prime location minutes from I‑74, offering high visibility and accessibility.
    • Features a 3,014 sq ft building and a former car wash structure.
    • Ample on‑site parking.
    • Corner lot at Prospect and Bradley Avenues with high traffic exposure.
    • Buyers should inquire about potential site restrictions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cardtronics ATM Atm

    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
    -88.258014716861
    Latitude
    40.126703524269

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    FAQs

    What type of property is this?
    Land - High-visibility commercial lot, I-74 access.
    Where is this land located?
    The property is located at 1101 Prospect Ave Champaign, IL.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: 0.44-acre commercial lot at 1101 N. Prospect Ave., Champaign, IL (APN 412011230020), priced at $500,000.; Prime location minutes from I-74, offering high visibility and accessibility.; Features a 3,014 sq ft building and a former car wash structure.
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    1101 Prospect Ave 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
    1101 Prospect Ave Champaign, IL 61820
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