Property profile

1701 Rion Dr Champaign, IL 61822

FOR SALE
Commercial real estate
Property ID
US28-1061261
3.28 ac lot
Entity Owned 15-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 3.28-acre commercial lot, located at 1701 Rion Dr in Champaign, Illinois, presents a unique investment opportunity. Situated in the Olympian North Business Park, this fee-simple property boasts a prime location on the near north side of Champaign, conveniently accessible via Interstate-57, exit 328. The lot's strategic placement offers high visibility and easy access for businesses. Originally planned for a hotel, this parcel is ready for development, benefiting from existing infrastructure. The property is zoned CG Enterprise Zone and enjoys proximity to established businesses including a Dairy Queen Grille & Chill, Circle K, and a Microtel Inn by Wyndham, ensuring a thriving commercial environment. A significant advantage is its location at the first exit from I-57 northbound into Champaign, providing excellent access for customers and employees. Furthermore, a 4-acre lake borders the property to the south, offering an attractive natural amenity. The high daily traffic count of 24,700 vehicles on I-57 underscores the significant potential for commercial success. The asking price for this exceptional property is $675,000. The APN is 41-14-26-352-018.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 3.28 ac (142,877 SF)
APN 411426352018
UPID US28-1061261

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1701 Rion Dr Champaign, IL 61822
Champaign metro Census 10604 CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$340k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$340k

Owner & transaction history

since 2010
2 recorded transactions
2021
Price N/A
2010
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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