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    Property profile & analytics

    2208 Springfield Ave Champaign, IL 61821

    • Car washes
    For Sale
    View listing
    $1,350,000
    Value Estimation
    Last Sale
    Feb 29, 2024
    $596,400
    Location Intelligence
    Property ID
    US28-0011035
    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

    • CU Auto Bath Systems / Car Wash

    Property Details for 2208 Springfield Ave

    Property type
    Car washes
    APN
    412010451027
    APU
    412010451027

    Description

    This exceptional investment opportunity presents a 7,680 square foot, twelve-bay self-service car wash located at 2208 W Springfield Ave, Champaign, IL 61821. Built in 1979, this block building sits on a 0.75-acre lot (APN: 41-20-10-451-027) and boasts 3-phase, 600-amp electrical service. Currently featuring twelve bays, six were inoperable in 2023 but will be fully operational by June 2024. Internal space includes a central storage area, mechanical/maintenance room, and a restroom. The property enjoys a prime location on a high-traffic arterial road (Springfield Avenue), seeing 16,200 vehicles daily. Surrounding businesses include national chains like Burger King, Taco Bell, Papa Johns, Dunkin Donuts, and Circle K, as well as regional banks. The property's zoning is CG - Commercial General. A potential cross-access parking agreement may be needed with the adjacent property at 2206 W. Springfield Ave. This property is also available for purchase in conjunction with the neighboring property. Noteworthy is the strong historical net operating income (NOI): $184,858 in 2023, $192,711 in 2022, and $198,209 in 2021. The asking price is $1,350,000, translating to $175.78 per square foot.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $595,000

    • CAP approach

      CAP return
      Estimation
      6%
      $505,000
      6.5%
      $575,000
      7%
      $500,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $540,000
      Geo Method
      $615,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $610,000
      Retail
      $650,000
      Mixed-Use
      $665,000
      Hospitality
      $490,000
      Educational
      $520,000
      Residential Income
      $580,000
      Energy
      $655,000
      Income-Based Land
      $595,000
      Food Service
      $570,000

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2852
    Latitude
    40.1133
    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
    $21,349
    $142,480
    $94,260
    $236,740
    -
    $427,440
    $282,780
    $710,220

    Comparable in this City

    • Value Estimation by Request

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      VEHICLE SALES, RENTALS
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      View Details
    • Value Estimation
      $305,000
      0.85 Acres

      1102 Bloomington Rd

      VEHICLE SALES, RENTALS • 0.85 Acres
      1102 Bloomington Rd, Champaign, IL 61821-1649
      View Details
    • Value Estimation
      $1,230,000

      707 Mattis Ave

      AUTO REPAIR, GARAGE
      707 Mattis Ave, Champaign, IL 61821-2449
      View Details
    • Value Estimation by Request
      1,372 SF

      1701 Springfield Ave

      Automotive properties • 1,372 SF
      1701 Springfield Ave, Champaign, IL 61821
      View Details
    • Value Estimation by Request

      1308 Church St

      AUTO REPAIR, GARAGE
      1308 Church St, Champaign, IL 61821
      View Details

    Similar Nearby for Sale

    • $950,000
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      Twelve-Bay Self-Service Car Wash

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      Champaign Car Wash - $1.35M

      12-Bay Self-Service Car Wash, High Traffic Area
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      3,168 SF building with office and garage space for sale.
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    Similar Nearby for Lease

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    • $10 SF/Yr
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      Champaign Retail Space - 3854 SF

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      2206 Springfield Ave, Champaign, IL 61821
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    • Contact for pricing
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      Prime Champaign Retail Land

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    2208 Springfield Ave
    Champaign, IL 61821
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    Realmo Value Estimation

    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.

    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
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