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    113 University Ave Champaign, IL 61820

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    For Sale
    Contact for pricing

    University Ave. mixed-use opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.59 to 2.26-acre land parcel presents a unique redevelopment opportunity in Champaign, Illinois. Located at 113 E University Ave, this property sits on the corner of University Avenue and First Street, offering unparalleled access to the University of Illinois Urbana-Champaign (UIUC) campus and downtown Champaign. The site's CB1 - Central Business Urban Fringe zoning allows for mixed-use development, catering to the significant student population (over 56,000) and a growing young professional community. Its proximity to Boneyard Creek, with its adjacent walking trails, provides a highly desirable green space amenity. The high visibility location on University Avenue (19,900 vehicles per day) and First Street (5,600 vehicles per day) ensures strong exposure. The property's size allows for economies of scale, enabling developers to create a higher-end project targeting graduate students, post-graduates, and young professionals seeking convenient access to both campus and the vibrant downtown area. This location is ideal for a variety of developments, including student housing, mixed-use buildings, or high-end studio apartments to serve the expanding tech and startup community in Champaign's "Silicon Prairie." The property is situated within the East University TIF District, offering potential for expansion up to 2.26 acres. This is a truly rare opportunity to capitalize on the thriving Champaign market.

    Property Features for 113 University Ave

    General Information

    Property type
    Land
    Lot Size
    25,700 SF

    HighLights

    • 1.32‑acre land parcel in Champaign's East University TIF District, expandable to 2.26 acres.
    • CB1 - Central Business Urban Fringe zoning.
    • Prime corner location at University Avenue and First Street, adjacent to the University of Illinois Urbana‑Champaign campus.
    • Walking distance to UIUC campus, downtown Champaign, and the Amtrak/Greyhound station.
    • Adjacent to Boneyard Creek Park and the vibrant off‑campus entertainment district.
    • High visibility location with 19,900 VPD on University Avenue and 5,600 VPD on First Street.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -88.2384863
    Latitude
    40.11639193

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    FAQs

    What type of property is this?
    Land - University Ave. mixed-use opportunity.
    Where is this land located?
    The property is located at 113 University Ave Champaign, IL.
    What are key features of this property?
    This property features: 1.32-acre land parcel in Champaign's East University TIF District, expandable to 2.26 acres.; CB1 - Central Business Urban Fringe zoning.; Prime corner location at University Avenue and First Street, adjacent to the University of Illinois Urbana-Champaign campus.
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    113 University 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
    113 University Ave Champaign, IL 61820
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