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    Urbana, IL Restaurants for Sale

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    Champaign, IL Savoy, IL Philo, IL Saint Joseph, IL Tolono, IL Sidney, IL Thomasboro, IL Mahomet, IL
    Downtown Urbana Commercial Building
    Updated: Sep 26, 2025
    Downtown Urbana Commercial Building

    114 S Race, Urbana, IL 61801

    $475,000
    0.06 AC lot
    Prime downtown Urbana location.
    Existing first‑floor restaurant generating $3,500/month rental income.
    Unfinished second floor offers 'value add' opportunity for conversion.
    Low tax assessment.
    New live music venue opening adjacent in Fall 2026.
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    Remodeled Bar & Karaoke Venue
    Updated: Nov 4, 2025
    Remodeled Bar & Karaoke Venue

    214 W Main St, Urbana, IL

    $970,000
    8,800 sqft 0.11 AC lot
    Remodeled in 2014 with updated HVAC system and a new roof installed in June 2025.
    Two‑story building with 8,800 sq ft of usable space (4,400 sq ft per floor).
    Main level features a bar area, five karaoke rooms, full kitchen, and restrooms.
    Second level has a separate entrance, bar area, private seating, restrooms, and seven private karaoke rooms.
    Full basement includes a restroom, walk‑in cooler/freezer, office space, and additional storage.
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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 11 Potential Opportunities for your consideration. Besides 2 Active listings in Urbana, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 1 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.

    Downtown Champaign Mixed-Use Building
    Downtown Champaign Mixed-Use Building

    320 N Neil Street, Champaign, IL 61820

    $1,250,000
    5,865 sqft 0.08 AC lot

    Prime mixed-use property in downtown Champaign with rental income.

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    Connected Historic Restaurant Buildings
    Connected Historic Restaurant Buildings

    103 & 105 W Sale Street, Tuscola, IL 61953

    $390,000
    0.15 AC lot

    Two interconnected historic buildings with a renovated structure and kitchen, storefront, and flexible upper-level space.

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    Restaurant and Residential Building
    Restaurant and Residential Building

    101 W Sale Street, Tuscola, IL 61953

    $400,000
    0.07 AC lot

    Main-level restaurant space with included equipment plus upstairs residential space, including one nearly finished unit and one unfinished area.

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    Champaign Freestanding Building with Drive-Thru
    Champaign Freestanding Building with Drive-Thru

    1905 N Neil St, Champaign, IL

    $1,125,000
    5,200 sqft 1.51 AC lot

    5,200 SF building with drive-thru on 1.52 acres.

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    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Prime Commercial Land in Champaign
    Prime Commercial Land in Champaign

    803 N Mattis Avenue, Champaign, IL 61821

    $465,000
    1.89 AC lot

    1.89-acre commercial land in high-visibility Champaign location.

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    Savoy, IL Commercial Development Land
    Savoy, IL Commercial Development Land

    612 CLARENDON Court, Savoy, IL 61874

    $450,000
    5,000 sqft 1.97 AC lot

    1.97-acre commercial parcel in high-growth Savoy corridor.

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    Prime Commercial Lot in Savoy
    Prime Commercial Lot in Savoy

    103 Calvin Street, Savoy, IL 61874

    $125,000
    3,800 sqft 0.33 AC lot

    Last available lot in a thriving Savoy commercial area.

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    Champaign Commercial Land For Sale
    Champaign Commercial Land For Sale

    4202 Nicklaus Drive, Champaign, IL 61822

    $750,000
    1.92 AC lot

    1.92-acre commercial lot in desirable Champaign location.

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    Off-Market Properties in Urbana, IL

    Consider similar Off-Market properties in Urbana, 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.

    2740 Philo Rd
    Restaurants

    2740 Philo Rd, Urbana, IL 61801

    Value Estimation by Request
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    Urbana, IL Restaurants Market Trends and Statistics

    Explore 3 restaurants for sale in Urbana, IL on our real estate platform. These investment opportunities span a total of 8,800 square feet of properties for sale, with an estimated market value of $970,000.

    Sale prices for restaurant properties in Urbana, IL start at $970,000, averaging $970,000, and reaching up to $970,000 — 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

    Drive through restaurants 2
    Bars & Pubs 1
    Coffee shops 1
    Conventional restaurants 1

    Demographics Overview

    Population 47K
    Population Growth (5Y) -5.1%
    Median Household Income $46,466
    College Educated 55.8%

    High-Yield Neighborhoods for Investment

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

    Neighborhood Average Price
    61801 $475K

    Taxes & Financing

    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 Urbana fall within the 25,000 to 50,000 square foot range.

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