$1,275,000
202-206 E University Avenue Champaign, IL 61820
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$1,275,000
Est. payment /mo
0.6 Acres Lot
UPDATED:
11/20/2024 05:10 PM
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12214081
Annual Tax Amount $6,876
Tax Year 2023
Lot Size 0.600 Acres
Lot Dimensions 198' X 132'
Property Description
The site consists of three contiguous lots. The combined parcel measures 198' x 132' and contains 26,136 square feet. It is zoned CB, Central Business. The subject is a legally conforming use of the CB classification. Al public utilities serve the site. The CB Central Business district is designed for high density retail, service, and office development, mixed with housing, parking, and institutional uses. The floor area ratio in this classification is the highest density allowed by the ordinance. On-site parking is not necessary for individual businesses, with allowable uses including public/quasi-public uses, personal service, clinic, office, a broad cross section of retailers, as well as multi- family as long as they are developed above the first floor. Standard requirements show no minimum lot size, and a maximum FAR of 9.00. . The site size is considered adaptable for a broad cross section of the legally permitted uses, limiting only the scope of certain development. It lies on University Avenue, an east-west traffic artery for the city. The downtown area lies three blocks west, with the University of Illinois campus directly south of the subject. A mix of office, residential and retail uses dominate along University Avenue. Champaign and Urbana are twin cities centered in Champaign County in East Central Illinois. They are surrounded by some of the most productive farmland in the world and offer easy access to major cities. Three Interstate Highways (I-57, I-72 and 1-74) link the communities in the county with other roadways to provide access to all parts of the nation. Greyhound and Illini Swallow bus lines provide service nationwide. The Champaign- Urbana Mass Transit District (MTD) was twice named the Best Transit System (for its size) by the American Public Transit. Taxi cab service is available from private companies. Several shuttles are also available from Champaign to the Chicago area. Both Amtrak passenger and freight rail transportation are available. Air transportation is available at the University of Illinois Willard Airport in Savoy, south of Champaign. Willard has a modern terminal with daily regional jet flights available. Private charter and freight services are also available. Frasca Airport is a smaller, privately owned airport located along Route 45 in Urbana. The area's strong, stable economic base is sustained by the University of Illinois. Also included among the largest non-manufacturing employers are Carle Hospital & Clinic, Presence Covenant Medical Center, Parkland College, Christie Clinic, local school districts, and government offices. Both Carle and Christie have expexpanded their locations to include southeast Urbana and southwest Champaign. Agricultural land use dominates the county, with the trend toward fewer but larger farms. Local industry is dominated by food service, high technology and research employers. The major industrial employers in the area include Kraft Foods, Super Valu, Solo Cup, Jeld-Wen, Horizon Hobby, Hobbico, and Plastipak. Two-thirds of al manufacturing jobs are involved in the production of non- durable goods, with food being the major product manufactured. Manufacturers in the automotive industry are also present due to the close proximity to the Mitsubishi plant in Bloomington, 60 miles west.The University of Illinois has been the dominant force in making Champaign-Urbana a high-tech area. The University has one of the few supercomputer bases ni the country. This has helped ot attract additional high-tech businesses. Blue Waters, the world's fastest supercomputer for open scientific research, contains 20,000 square feet and was constructed off St. Mary's Road in 2010.
Location
State IL
County Champaign
Zoning COMMR
Interior
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Sanitary Sewer, Water to Site
Waterfront false
View Y/N true
Schools
School District 4, 4, 4
Others
Ownership Fee Simple
Special Listing Condition Standard
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Listed by Mariam Moeinzadeh • Compass
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