Champaign, IL Restaurants for Sale

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Urbana, IL Savoy, IL Philo, IL

Updated: Feb 18, 2025

Champaign Freestanding Building with Drive-Thru

1905 N Neil St, Champaign, IL

$1,125,000

5,200 sqft · 1.51 AC lot

Prime 1.52 acre site directly across from Market Place Mall.
5,200 SF freestanding single‑tenant building (former restaurant) with drive‑thru.
Ample parking.
Highly visible location among one of Champaign’s most popular shopping destinations.
Less than one mile from Interstate 74.

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This listing looks promising.

Here's a quick look at some key insights for

1905 N Neil St, Champaign, IL

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Est. Cap Rate

5.2%
NOI ÷ price
Est. NOI

$59K
Annual
Mortgage

$985K
Nov 2021
Last Sold

Aug 2019
$760K

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Updated: Feb 10

Downtown Champaign Mixed-Use Building

320 N Neil Street, Champaign, IL 61820

$1,250,000

5,865 sqft · 0.08 AC lot

Prime downtown location in Champaign's central business district (CB2 zoning).
Mixed‑use property with income‑generating two‑bedroom apartment, leased through 07/31/2026 at $1,800/month.
First floor configured for nightclub/bar use with existing 28' bar, sprinkler system, and handicap accessibility.
Spacious 5,865 SF above grade plus 1,620 SF basement with walk‑in cooler and storage.
Second‑floor apartment features 14' ceilings, fireplace, and separate HVAC and electrical service.

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Drive-Through Restaurant Portfolio

1903 Convenience Place, Champaign, IL 61820

$7,975,000

15,186 sqft

Three Panera Bread locations offered with corporate-guaranteed NN lease terms through 2033 and scheduled rent increases.

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Retail Space with Drive-Thru

1807-1901 W Bradley Ave, Champaign, IL

Contact for pricing

2,200 sqft · 1.04 AC lot

Endcap retail unit with drive-thru and on-site parking.

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Based on your search, we've compiled 80 Potential Opportunities for your consideration. Besides 4 Active listings in Champaign, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 68 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Freestanding Commercial Building on Century Blvd

333 S Century Boulevard, Rantoul, IL 61866

$169,900

1,775 sqft · 0.25 AC lot

Commercial building with drive-thru on busy Century Blvd in Rantoul.

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Rantoul, IL Commercial Development Land

950 Broadmeadow Road, Rantoul, IL 61866

$485,000

2.36 AC lot

Prime commercial land near I-57, ideal for various developments.

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Remodeled Bar & Karaoke Venue

214 W Main St, Urbana, IL

$970,000

8,800 sqft · 0.11 AC lot

Turnkey bar and karaoke venue with leaseback opportunity.

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Downtown Urbana Commercial Building

114 S Race, Urbana, IL 61801

$475,000

0.06 AC lot

Two-story commercial building with first-floor restaurant in downtown Urbana.

$750,000

1.92 AC lot

1.92-acre commercial lot in desirable Champaign location.

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Off-Market Properties in Champaign, IL

Consider similar Off-Market properties in Champaign, IL. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

RESTAURANT

2005 Springfield Ave, Champaign, IL 61821-3005

$775,000

Estimated value

1.15 AC lot

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RESTAURANT

1903 Convenience Pl, Champaign, IL 61820-7814

$2,820,000

Estimated value

View details

RESTAURANT

2037 Neil St, Champaign, IL 61820-7219

$2,120,000

Estimated value

0.98 AC lot

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RESTAURANT

2001 Springfield Ave, Champaign, IL 61821-3005

Value Estimation by Request

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RESTAURANT

2201 Springfield Ave, Champaign, IL 61821-2911

$585,000

Estimated value

View details

RESTAURANT

2033 Neil St, Champaign, IL 61820-7219

$1,995,000

$1,590,000

Estimated value

1.19 AC lot

View details

Champaign, IL Restaurants Market Trends and Statistics

Explore 72 restaurants for sale in Champaign, IL, showcased through 4 active listings on our real estate platform. These investment opportunities span a total of 37,541 square feet of properties for sale, with an estimated market value of $17,720,462.

Sale prices for restaurant properties in Champaign, IL start at $1,125,000, averaging $2,953,410, and reaching up to $7,975,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 96K

Population Growth (5Y) +1.5%

Median Household Income $62,086

College Educated 42.5%

High-Yield Neighborhoods for Investment

Identify Champaign submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
61822	$2.5M
61820	$4.2M

Taxes & Financing

Tax Rate (average for all types) 8.86%

Property Tax per SF $37.00 per SF

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Champaign County

New Delisted

Property Size Breakdown

The majority of commercial real estate listings in Champaign fall within the 100,000+ square foot range.

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Champaign, IL Restaurants for Sale

1905 N Neil St, Champaign, IL

320 N Neil Street, Champaign, IL 61820

1903 Convenience Place, Champaign, IL 61820

1807-1901 W Bradley Ave, Champaign, IL

Opportunities in Nearby Cities

333 S Century Boulevard, Rantoul, IL 61866

950 Broadmeadow Road, Rantoul, IL 61866

214 W Main St, Urbana, IL

114 S Race, Urbana, IL 61801

Potential Development Sites for Consideration

803 N Mattis Avenue, Champaign, IL 61821

612 CLARENDON Court, Savoy, IL 61874

103 Calvin Street, Savoy, IL 61874

4202 Nicklaus Drive, Champaign, IL 61822

Off-Market Properties in Champaign, IL

2005 Springfield Ave, Champaign, IL 61821-3005

1903 Convenience Pl, Champaign, IL 61820-7814

2037 Neil St, Champaign, IL 61820-7219

2001 Springfield Ave, Champaign, IL 61821-3005

2201 Springfield Ave, Champaign, IL 61821-2911

2033 Neil St, Champaign, IL 61820-7219

111 Walnut St, Champaign, IL 61820

6 Columbia Ave, Champaign, IL 61820-3620

320 Neil St, Champaign, IL 61820-3614

117 Walnut St, Champaign, IL 61820-4000

27 Taylor St, Champaign, IL 61820-4006

2121 Prospect Ave, Champaign, IL 61822-1238

2033 Prospect Ave, Champaign, IL 61822-1235

501 Grn St, Champaign, IL 61820-5719

109 Walnut St, Champaign, IL 61820-4009

2501 Vlg Grn Pl, Champaign, IL 61822-7679

2513 Vlg Grn Pl, Champaign, IL 61822

6 Taylor St, Champaign, IL 61820-4025

2 Main St, Champaign, IL 61820-3616

1703 Neil St, Champaign, IL 61820-7213

Champaign, IL Restaurants Market Trends and Statistics

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

Property Size Breakdown

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