507 S Broadway Ave Urbana, IL 61801
For Sale
This exceptional 5,100 square foot office building is ideally situated at 507 S. Broadway Avenue in Urbana, Illinois. The property boasts seven individual offices, a spacious reception/lobby area perfect for client interaction, and a secure record vault for sensitive documents. A convenient kitchenette and separate men's and women's restrooms add to the functionality of the space. Natural light floods the interior thanks to multiple atriums, creating a bright and welcoming atmosphere. One office even features a large private balcony. Access is convenient via elevator from the main lobby, or by using one of the two stairwells. Ample on-site parking is provided, supplemented by additional on-street parking options. The building's location offers unparalleled convenience, being within walking distance of Lincoln Square Mall, Urbana City offices, the Champaign County Courthouse, the Federal Courthouse, and the heart of downtown Urbana. Easy access to I-74 is provided via Vine Street/Cunningham Avenue. This property benefits from aggressive B-3 and B-4 zoning, presenting significant potential for future development in Urbana's growing downtown area. Furthermore, the City of Urbana offers TIF incentives for this location. Owner financing is available with a 25% down payment, a 6% interest rate, and a 5-year balloon payment. This presents a unique opportunity for a business seeking a prominent and well-equipped office space in a thriving urban setting.
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PNC Bank Bank Loan Service
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Tepper Mann & Cottrell Law Firm
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PNC Mortgage Loan Service Bank
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Arlynn Gottlieb, M.S.W., L.C.S.W. Psychotherapist Marriage Or Relationship Counselor
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Sarah M Waterman, LMT Alternative Medicine Practice Spa & Massage Center
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.