113 University Ave Champaign, IL 61820
- Land
- 0.59 lot acres
Current Use by Public Records
- Land
Property Details for 113 University Ave
- Lot size
- 0.59 lot acres
- Property type
- Land
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Champaign
- County
- Champaign
- State
- Illinois
- Longitude
- -88.2385
- Latitude
- 40.1164
