306 Springfield Ave Urbana, IL 61801

Property Details for 306 Springfield Ave

Property type

Commercial real estate

APN

922117130015

APU

922117130015

Description

This iconic 9,800 square foot free-standing retail building at 306 Springfield Avenue in Urbana, Illinois, presents a unique investment opportunity. Located in the heart of downtown, just blocks from the University of Illinois campus, this property boasts unparalleled visibility and high foot traffic. Previously home to a successful grocery and bakery for over three decades, the building offers a wealth of existing infrastructure, including extensive refrigeration space with freezers and shelving, a full bakery and kitchen, and a spacious cafe area. The property sits on a sizable 0.75-acre lot zoned for general commercial use, providing ample space for expansion or outdoor amenities. The interior is modern and updated, ready for immediate occupancy. The asking price is $1,500,000, with the option to purchase existing fixtures and equipment for an additional $200,000. This property is ideal for a single large business or could be easily adapted into a multi-tenant retail space. Its prime location and versatile layout make it an exceptional investment opportunity in a thriving community. The building's history as a beloved local establishment adds to its unique appeal and potential for continued success. This is a key-in-ready property ready for a new chapter.

Location Insight

City

Urbana

County

Champaign

State

Illinois

Longitude

-88.2113

Latitude

40.1126

CBSA code

16580

CBSA name

CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments