510 Elm St Urbana, IL 61801

Property Details for 510 Elm St

Lot size

0.41 lot acres

Property type

Commercial real estate

APN

92-21-17-110-015

Description

This exceptional .41-acre lot, identified by APN 92-21-17-110-015, presents a unique investment opportunity in the vibrant city of Urbana, Illinois. Located at 510 W. Elm St, 61801, this property is zoned MOR (Mixed-Office Residential), allowing for a diverse range of development options. The zoning permits a blend of residential, office, and small-scale commercial uses, ensuring compatibility with the existing neighborhood character. Its strategic location, just two blocks west of downtown Urbana and a half-mile from the University of Illinois, offers unparalleled access and visibility. The property benefits from excellent street access and visibility from both Springfield Avenue to the north and West Elm Street to the south. Surrounded by a mix of small businesses, single-family homes, duplexes, and apartments, this lot seamlessly integrates into a thriving community. The asking price for this prime development site is $265,000. This presents a compelling opportunity for developers seeking a versatile location with strong potential for return on investment. The property's size and zoning flexibility make it suitable for a variety of projects, catering to the diverse needs of the Urbana market. Don't miss this chance to acquire a highly desirable commercial and residential lot in a rapidly growing area.