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    210 Walnut St Champaign, IL 61820

    Sponsored
    For Sale
    $1,900,000

    Prime 28,662 SF development site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 28,662 square foot commercial land parcel in Champaign, Illinois, presents a rare development opportunity. Located at the intersection of Downtown, Midtown, and Campustown, this site benefits from a highly desirable CB2 Central Business Downtown zoning designation. This flexible zoning allows for a maximum building height of 115 feet, with no setback, open space reserve (OSR), or floor-to-area ratio (FAR) restrictions. The property comprises four parcels and includes three existing vacant buildings constructed between 1915 and 1965. Its strategic location offers easy access via major thoroughfares, including Neil Street and Springfield Avenue, and proximity to the Illinois Terminal. The University of Illinois, with its substantial student and faculty population, is also nearby. This location is within a Tax Increment Financing (TIF) District and Enterprise Zone, adding further investment appeal. The potential for expansion exists through the assembly of additional parcels, creating an even larger development footprint. This is a unique chance to acquire a significant development site in a high-demand area with exceptional zoning flexibility. The asking price for this remarkable property is $1,900,000.

    Property Features for 210 Walnut St

    General Information

    Property type
    Land

    HighLights

    • Rare development opportunity in Champaign, IL.
    • Located in a Tax Increment Financing (TIF) District and Enterprise Zone.
    • Highly flexible CB2 Central Business Downtown zoning; 115‑foot height limit, no setbacks or FAR restrictions.
    • Prime location at the convergence of Downtown, Midtown, and Campustown, near the University of Illinois.
    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
    -88.2428658
    Latitude
    40.1148462

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    FAQs

    What type of property is this?
    Land - Prime 28,662 SF development site
    Where is this land located?
    The property is located at 210 Walnut St Champaign, IL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: Rare development opportunity in Champaign, IL.; Located in a Tax Increment Financing (TIF) District and Enterprise Zone.; Highly flexible CB2 Central Business Downtown zoning; 115-foot height limit, no setbacks or FAR restrictions.
    (217) 403-3424
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    210 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
    210 Walnut St Champaign, IL 61820
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