Clark St Champaign, IL 61820

Property Details for 0 Clark St

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 the corner of East University Avenue and Clark Street, this property boasts a highly desirable CB1 - Central Business Urban Fringe zoning designation. Its strategic location places it within walking distance of the University of Illinois Urbana-Champaign campus, downtown Champaign, and the Amtrak/Greyhound station. The site's proximity to Boneyard Creek and its associated walking trails provides attractive green space and enhances the property's appeal. With high visibility on University Avenue (19,900 vehicles per day) and First Street (5,600 vehicles per day), this location offers unparalleled access to a large and diverse population. The property's size allows for economies of scale, enabling developers to create a high-amenity project targeting graduate students, young professionals, and the growing tech community. This presents a chance to capitalize on the strong demand for housing near the university and downtown, including the underserved high-end studio apartment market. The site's location within the East University TIF District offers additional development incentives. This is a truly exceptional opportunity to develop a mixed-use project in a thriving, dynamic market. The property is situated in the midtown submarket, known for its robust studio apartment market. The University of Illinois Urbana-Champaign, with over 56,000 students, provides a substantial and consistent population base. The site's location offers a balance between proximity to campus and the vibrancy of downtown Champaign, making it an ideal location for a variety of development projects.