Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    701 Hickory St Champaign, IL 61820

    • Office Properties & Spaces
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1403993
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 701 Hickory St

    Property type
    Office Properties & Spaces
    APN
    422012277002
    APU
    422012277002

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2431
    Latitude
    40.1226
    CBSA code
    16580
    CBSA name
    CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,888
    $27,310
    $71,250
    $98,560
    -
    $81,930
    $213,750
    $295,680

    Comparable in this City

    • Value Estimation by Request
      4,655 SF

      205 Neil St

      Restaurants • 4,655 SF
      205 Neil St, Champaign, IL 61820
      View Details
    • Value Estimation by Request

      206 Springfield Ave

      OFFICE (GENERAL)
      206 Springfield Ave, Champaign, IL 61820-4816
      View Details
    • Value Estimation by Request

      101 Vine St

      OFFICE (GENERAL)
      101 Vine St, Champaign, IL 61820-2998
      View Details
    • Value Estimation by Request

      510 Neil St

      OFFICE (GENERAL)
      510 Neil St, Champaign, IL 61820-5220
      View Details
    • Value Estimation by Request

      2001 1st St

      OFFICE (GENERAL)
      2001 1st St, Champaign, IL 61820-7461
      View Details
    • Value Estimation by Request

      715 6th St

      OFFICE (GENERAL)
      715 6th St, Champaign, IL 61820-5707
      View Details

    Similar Nearby for Sale

    • $3,496,000
      15,486 SF

      Champaign Medical Office Investment

      Corporate-guaranteed medical office, strong NOI.
      312 Kirby Ave, Champaign, IL 61820
      View Details
    • $3,850,000
      0.29 Acres

      Historic Downtown Champaign Mixed-Use Building

      Landmark building with retail, office, and residential potential.
      41 E University Ave, Champaign, IL 61820
      View Details
    • $3,000,000
      3 SF

      Versatile Multi-Tenant Building For Sale

      3,600 SF multi-tenant building with diverse tenant mix.
      505-507 E University Ave, Champaign, IL 61820
      View Details
    • Contact for pricing
      0.59 Acres

      Champaign Gateway: Prime Development Land

      University Ave. Mixed-Use Opportunity
      0 Clark St, Champaign, IL 61820
      View Details
    • $5,950,000
      3.31 Acres

      Champaign Development Land - 3.3 Acres

      Prime Champaign location, flexible zoning, development potential.
      234 Neil St, Champaign, IL 61820
      View Details
    • $3,850,000
      17,609 SF

      Downtown Champaign Mixed-Use Gem

      Historic building, high visibility, diverse spaces.
      41 University Ave, Champaign, IL 61820
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      75,000 SF

      Atkins Building: Prime Champaign Office

      Executive Suites, Research Park Location
      1800 Oak St, Champaign, IL 61820
      View Details
    • $17 SF/Yr
      60,600 SF

      Research Park Retail/Office Opportunity

      Class A space, multiple suites available
      1904 1St St, Champaign, IL 61820
      View Details
    • $15 SF/Yr
      2,531 SF

      Downtown Champaign Retail Space

      Prime Retail/Office, 2531 sq ft
      12 Main St, Champaign, IL 61820
      View Details
    • $12 SF/Yr
      25,100 SF

      Champaign Office Space for Lease

      2,500 SF Executive Office Suite Available
      2004 Fox Dr, Champaign, IL 61820
      View Details
    • $17 SF/Yr
      52,724 SF

      Champaign Research Park Office Space

      Class A Office Suites Available Now
      2021 1St St, Champaign, IL 61820
      View Details
    • $14,400 /Mo
      309 SF

      Champaign Executive Office Suites

      Downtown Champaign Office Space, 309 sq ft
      301 Neil St, Champaign, IL 61820
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    701 Hickory St
    Champaign, IL 61820
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.