234 Neil StChampaign, IL 61820

Property Details for 234 Neil St

Property type

Industrial properties

Property subtype

Other warehouses

APN

422012482003

APU

422012482003

Description

This exceptional 3.307-acre development site in Champaign, Illinois, presents a rare investment opportunity. Located at the intersection of Downtown, Midtown, and Campustown, this property offers unparalleled access to a vibrant community. The site comprises ten parcels totaling approximately 144,053 square feet, zoned CB1 and CB2, allowing for significant flexibility in development plans. CB1 zoning permits buildings up to 85 feet tall, while CB2 allows for structures reaching 115 feet. Importantly, neither zoning classification imposes setback, open space reserve (OSR), or floor-to-area ratio (FAR) restrictions. The property includes eight existing buildings, constructed between 1915 and 1980, offering potential for adaptive reuse or demolition. Its strategic location, bordered by major thoroughfares like Neil Street and Springfield Avenue, and proximity to the Illinois Terminal, ensures excellent accessibility. The University of Illinois, with its substantial student and faculty population, is also within easy reach, creating a dynamic and high-demand market. This site is situated within a Tax Increment Financing (TIF) District and Enterprise Zone, presenting additional economic advantages for developers. The asking price is $5,950,000, and the APN is 42-20-12-482-003. This is a unique chance to acquire a large-scale development site in a high-growth area with considerable potential for substantial returns.

Location Insight

City

Champaign

County

Champaign

State

Illinois

Latitude

40.1142

Longitude

-88.2431

CBSA code

16580

CBSA name

CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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