Courtesy: KELLER WILLIAMS-TREC
217-356-6100
Unlock an exceptional redevelopment opportunity in the heart of downtown Urbana with this unique assemblage consisting of 510 W Elm Street and 507 W Springfield Avenue. Encompassing a total of .54 acres, this offering presents a rare opportunity for developers to capitalize on one of the region's strongest multifamily and mixed-use markets. The package includes 510 W Elm Street, a .41-acre on-grade parking lot currently zoned Mixed Office Residential (MOR), and 507 W Springfield Avenue, a .13-acre parcel improved with an approximately 2,000-square-foot office building and zoned B-2 Neighborhood Business-Arterial District. Located just minutes from the University of Illinois campus and surrounded by the amenities and energy of downtown Urbana, both zoning classifications permit a wide range of residential and commercial uses, including mixed-use developments that combine business and residential uses within the same structure. The existing zoning creates an exceptional opportunity for high-density residential, mixed-use, student housing, workforce housing, or live-work development in one of Central Illinois' most dynamic urban markets. With site assembly already complete, developers can avoid the time, expense, and uncertainty often associated with urban land acquisition. Opportunities to acquire assembled parcels totaling more than a half-acre with this level of development potential in downtown Urbana are exceptionally rare. For developers and investors seeking their next transformative project, this offering represents a unique opportunity to create a signature development in one of Central Illinois' most desirable urban locations.
Courtesy: MR. LANDMAN
217-202-0924
206 S. Grove Street offers the opportunity to acquire a well-maintained 8-unit multifamily property in a highly desirable Urbana location just over one mile from the University of Illinois. Conveniently situated near downtown Urbana, Lincoln Square Mall, the Urbana Farmers Market, Carle Foundation Hospital, and major employment centers, the property appeals to a broad tenant base including students, healthcare professionals, university employees, and workforce renters. The property consists of eight spacious two-bedroom, one-bathroom apartments, each featuring a full kitchen, dining area, in-unit stackable laundry, and private patio or balcony access. Current ownership has completed numerous interior and exterior improvements, including updated flooring, bathroom renovations, cosmetic updates, exterior repairs, and a complete exterior repainting. Additional amenities include ample surface parking, mature landscaping, and a quiet residential setting. With recent capital improvements already completed and the potential for continued rental growth, 206 S. Grove Street represents an attractive investment opportunity in one of Central Illinois' strongest rental markets.
Courtesy: eXp Realty-Champaign
888-574-9405
Outstanding location for this 10 bedroom rooming house for sale. Located near Illini Grove and heart of campus, this house is full of character and charm. Leased at $3605, but rents bump to for $3,790 per month plus a $80 utility fee starting August 1, 2026 and property is leased through July 2027. Great parking. Perfect investment for someone wanting to get into student housing. Would work well for small fraternity, sorority, or student group. Schedule your showing today!
Courtesy: eXp Realty-Champaign
888-574-9405
Two separate parcels, 11 units , and potential for more development along High Street, located just blocks away from the vibrant and ever expanding University of Illinois Urbana Campus. The antebellum mansion on the Green Street side is well built and solid, full of charm and history. Current income of $8,800 a month roughly $105,000 in annual gross income. Gross Income projects to jump to $9,400 a month starting August 1, 2026. A mix of 10 one-bedroom and studio apartments, and one two-bedroom, this unit mix stabilized and fully leased, but also has room for rents to be bumped creating instant value. Major Electrical upgrades in 2024. The back lot, 58' x 123', faces High Street, and is currently used for parking. There is a substantial excess of parking, and the best long-term use is probably a duplex or other new construction.
Courtesy: RE/MAX REALTY ASSOCIATES-CHA
217-352-5700
Opportunity is knocking, and we have the keys. This parcel is ready for you to make your own. Property was originally a Mobile Home Park and one building remains. This structure includes an apartment and a shop area that the owner originally used for storage, shop work, and laundry facilities for the property. Sitting on 1/3 of an acre, this centrally located property has easy access to Cunningham Avenue and University Avenue providing an abundance of potential advertising options that could be utilized for your new project. Schedule your tour today and let your imagination run wild!
Courtesy: Coldwell Banker R.E. Group
217-351-1988
Turnkey, updated, and fully rented 7-unit investment opportunity!! Five of the units are spacious townhouse-style 2-bedroom layouts featuring 1.5 bathrooms and generous living space. All units offer great natural light and functional flow. These bi-level townhome-style units rent easily, have smooth turnover, and include central air and designated parking. The property features 5 covered parking spaces plus 2 additional off-street spots. There is also a basement common area with designated spaces for laundry units along with tenant storage. Potential for increased rental income with HACC vouchers offering 2-bedroom units up to $1,122 and 1-bedroom units up to $934, creating a total potential cash flow of $7,854/month. Tenants pay their own gas, electric, and water, helping maximize returns. This conscientious owner has invested approximately $100,000 in improvements, including a new roof, multiple HVAC systems, and extensive unit renovations. A full list of upgrades is available in additional documents. Fully rented and meticulously maintained, this is a rare opportunity to step into immediate cash flow from day one!
Courtesy: GUTH & ASSOCIATES,LLC
217-355-2545
Unique Downtown Urbana Mixed Use - Redevelopment Opportunity. Pleased to offer this well-located property on Race Street, currently home to Analog Wine Bar. The two-building, one- and two-story brick structure totals approximately 5,561 SF and sits on a .61 acre lot (effective usable site area of approximately 21,000 SF), with on-site parking for 25 vehicles and abundant nearby public parking. Constructed circa 1900 and thoughtfully updated, the property features a remodeled first floor with refinished concrete floors, high ceilings, updated mechanicals, electrical, plumbing, and a membrane roof. The ground level includes a coffee/wine bar, lounge, kitchen/prep area, event space, offices, restrooms, and access to a rear deck for outdoor use. The second floor (1,445 SF) is currently configured as office space and is well-suited for future residential or creative reuse with renovation. The property is zoned B-4 (Central Business), allowing for a wide range of high-density commercial uses including restaurant, retail, tavern, office, and upper-story residential. Directly adjacent and north of the property is multiple parcels owned by the City of Urbana and recently the buildings were demolished to make way for a large scale redevelopment project. The City of Urbana will be releasing a developer request for proposal in late spring 2026. 129 Race could be included in a developer project to increase the magnitude of a project. Property Highlights: Analog Wine Bar lease in place; tenant pays utilities and maintenance. Second-floor tenant on a month-to-month lease . Strong downtown location with excellent visibility and access. Functional mixed-use layout consistent with highest and best use. Opportunity to be purchased to enhance a redevelopment project to the north. This offering presents a compelling opportunity for an investor or owner-user seeking a stabilized asset with upside potential in a central business district setting. Building Size: 5,561 SF (4,116 SF first floor; 1,445 SF second floor). Site Size: 26,406 SF total (21,000 SF usable). Construction: Circa 1900 brick building; one- and two-story. Zoning: B-4 - Central Business District. Current Use: Mixed-use (restaurant / wine bar, office, flex space). Income & Tenancy: Analog Wine Bar lease in place ; tenant pays utilities & maintenance. Second-floor tenant month-to-month . Building Features: Recently remodeled first floor with refinished concrete floors. Updated mechanicals, electrical, and plumbing. Gas-fired forced air HVAC with central A/C (both floors). Membrane roof. Rear deck and exterior access for event or outdoor use. Parking & Access 42 on-site parking spaces (some leased to neighboring tenants; ~25 usable). Abundant nearby public parking. Location & Use Potential: Strong Race Street frontage with high visibility. Suitable for restaurant, retail, tavern, office, or mixed-use. Upper floor adaptable for office or residential conversion (with renovation).
Courtesy: Trautman Real Estate Agency & Appraisal LLC
217-888-8585
Position your organization in one of Champaign County's most recognizable institutional facilities. The Brookens Administrative Center is a large-scale, multi-tenant office campus offering approximately 93,000 SF in an adaptable layout originally designed for institutional use and later remodeled for administrative operations. Situated on an expansive ~20-acre site, the property provides the scale, presence, and flexibility that's increasingly hard to find in the Urbana-Champaign market. Historically home to a mix of county departments and community-serving agencies, the building is well-suited for users seeking a centralized headquarters, education/training operations, healthcare or human-services administration, or a multi-tenant office conversion. With ongoing governmental space shifts in the market, this is a compelling opportunity for an owner-user or investor to reimagine a landmark campus with strong community familiarity and operational infrastructure already proven in real-world use.
Courtesy: Taylor Realty Associates
217-586-4906
Discover an exceptional investment opportunity with this well-maintained 5-unit property in a prime Champaign location just minutes from the University of Illinois campus. The building features four spacious 2-bedroom, 1-bath units plus a larger 3-bedroom, 2-bath unit, offering strong rental appeal for students and professionals alike. Residents enjoy the convenience of on-site laundry located in the basement, as well as dedicated on-site parking-an increasingly rare amenity near campus. With its desirable location, reliable rental demand, and practical updates, this property is an ideal addition to any investor's portfolio.
Courtesy: RE/MAX REALTY ASSOCIATES-CHA
217-352-5700
Fantasic mulit-family investment!! 212 W High features 5 one bedroom / 1 bath units with 4 spots of covered parking and additional space for 5th tenant and guests! Coin-operated laundry in basement. Corner lot with lots of green space and wrap around front porch. Building is fully leased through July 2026 - tenants pay for their electric, owner covers heat, water, garbage, lawncare and sewer. Basement unit has new flooring throughout and recently painted.
Courtesy: KELLER WILLIAMS-TREC
217-356-6100
Opportunity awaits with this unique commercial property located just north of town in Urbana, offering convenient access to the interstate! Previously used as a woodshop, this versatile building is now available due to the owner's retirement-making it an excellent opportunity to continue as a woodshop or customize the space to suit your business needs. The building offers over 3,000 square feet of space, including a large workshop area, an office, two additional rooms, and a bathroom.
Courtesy: Champaign County Realty
217-352-1234
FULLY RENOVATED AND FULLY LEASED! This historic downtown Urbana, Illinois "Stephen's Building" has been fully modernized and redesigned to today's living standards! The first floor offers 2 separate commercial spaces. The larger Westside suite is 2375 Sq. Ft. with an unfinished basement for additional storage space. This suite is currently rented for $2400/mo. The East commercial space is 1500 Sq. Ft. and rented for $1326/mo (discounted has been $2100/mo.) Upstairs you will find 4 fully renovated 2 bed/2bath apartments. Each apartment features stainless appliances, hardwood and tile flooring, stacked laundry in each unit. The remodel was able to leave beautiful historic brick walls exposed and other original features. The building features industrial-style exposed HVAC. The residential access to the building is secure. The 4 apartments currently generate over $5869/mo of rental income. The building does not come with parking, however there is a City permit lot directly adjacent.
Courtesy: Weiner Co., Ltd.
217-384-8001
Right in the heart of downtown Urbana. 2 story brick building with a first floor restaurant. 2nd floor is currently unfinished. Adjacent building to the South is being developed into a live music opening probably early Fall 2026. Current 1st floor rents are 3500 per month, Tenants pay utilities and all repairs up to 10,000. Low tax assessment. Urbana is on the rise with multiple new businesses opening in the past two years. Perfect for an owner operator or a 'value add' investor who wanted to convert the 2nd floor into a lost.
Courtesy: KELLER WILLIAMS-TREC
217-356-6100
Location, Location, Location! Prime downtown Urbana retail condominium for sale! Amazing space that was renovated to the 9s between 2015-2017. The space includes a first floor with 2,280 square feet and a basement with 5,280 square feet. The first floor has hardwood floors and high ceilings with abundant Southern store front windows letting in natural light. The space could be setup for many different business uses in Downtown Urbana's B4 zoning including retail, office, medical/dentist office, restaurant, art studio, spa, grocery, dry cleaning, fitness center and many more businesses!
Courtesy: GUTH & ASSOCIATES,LLC
217-355-2545
Presenting an outstanding commercial opportunity in Urbana's B3 General Business District-this offering includes two contiguous parcels totaling 37,806 SF. The main building at 1209 E Colorado Ave is a well-maintained 4,312 SF office structure, currently configured for dental use but ideal for medical, professional, or general office tenants. The adjacent vacant lot at 1207 E Colorado Ave provides excess land for future expansion, additional parking, or redevelopment potential. This is a turn-key investment with stable cash flow and upside potential via future lease-up or redevelopment of the adjacent parcel. Ideal for investors, owner-users, or medical professionals seeking a visible and accessible location in Urbana. Property Highlights: Two Parcels: - Tract 1 (1209 E Colorado): Improved with 4,312 SF office building - Tract 2 (1207 E Colorado): Vacant lot to the north Built for single or multi-tenant use Shared amenities: 2 break rooms, 4 restrooms, lab, sterilization area Suite 101 (2,262 SF) currently leased through 3/31/2029 at $15/SF NNN 5-year term with 5-year renewal option Tenant pays half of shared utilities North entrance with shared waiting area 27 surface parking spaces Concrete block construction with brick exterior Asphalt shingle roof (replaced ~7 years ago) Partial basement (1,440 SF, unfinished; mechanicals & storage) Interior Layout: East Wing: Break room, 2 restrooms, lab, private office West Wing: Break room, 2 restrooms, office, sterilization area South Wing: Open operatory area with 2 built-in sinks, 5 semi-private operatories with sinks
Urbana is located in Illinois. Urbana, Illinois has a population of 39,189. Urbana is less family-centric than the surrounding county with 22.59% of the households containing married families with children. The county average for households married with children is 30.63%.
The median household income in Urbana, Illinois is $37,701. The median household income for the surrounding county is $56,939 compared to the national median of $69,021. The median age of people living in Urbana is 25.2 years.
The average high temperature in July is 84.4 degrees, with an average low temperature in January of 16.6 degrees. The average rainfall is approximately 40.8 inches per year, with 20.7 inches of snow per year.
