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    229 Mattis Ave Champaign, IL 61821

    Sponsored
    For Sale
    Contact for pricing

    High-traffic Champaign retail center, strong NOI.

    Property size:
    304,910 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional redevelopment opportunity presents the Country Fair Shopping Center, a 304,910 square foot retail center situated on a prime 36.26-acre lot in Champaign, Illinois. Boasting a prominent location at the northwest corner of Springfield Avenue (IL Rt. 10) and Mattis Avenue, the property benefits from high traffic counts of 14,600 VPD on Springfield and 23,000 VPD on Mattis. Currently 60% occupied, the center features a diverse mix of national and local tenants including Dollar General, Taco Bell, Dollar Tree, Chase Bank, Kroger, and Big Lots, spread across seven buildings with a total of 31 units. The property's Net Operating Income (NOI) is $934,396, with a pro-forma NOI also at $934,396. Built between 1958 and 2021, the property is zoned CG-Commercial General and includes a ground lease. The property consists of multiple buildings, including a 211,780 square foot building housing Sol Beauty, Talecris Plasma, Dollar Tree, and Karen's Kloset

    Property Features for 229 Mattis Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    304,910 SF
    Class
    C
    Lot Size
    1,579,486 SF

    Building Details

    Year Built
    1958
    Buildings
    7
    Stories
    1
    Units
    31
    Property Profile Location Intelligence

    Current Use by Public Records

    Country Fair Shopping ... Shopping Mall

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2795705
    Latitude
    40.1139835

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    FAQs

    What type of property is this?
    Lifestyle center - High-traffic Champaign retail center, strong NOI.
    Where is this lifestyle center located?
    The property is located at 229 Mattis Ave Champaign, IL.
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    229 Mattis Ave Champaign, IL 61821
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    Champaign, IL 61821
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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
    229 Mattis Ave Champaign, IL 61821
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