302 S Market St, Champaign, IL 61820

Property Description

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale an incredible opportunity to acquire approximately 89,348 SF of prime development land located in Champaign, Illinois at the convergence of Downtown, Midtown and Campustown.

This is truly a unique opportunity to acquire a development site in a dense location with flexible zoning, and it’s possible for a buyer to assemble additional parcels to create an even larger development site.

The property consists of 4 parcels totaling approximately 89,348 SF and the site is zoned CB1 – Central Business Urban Fringe. CB1 zoning allows for a maximum building height of 85’, and doesn’t have any setback, open space reserve (OSR) or floor to area ratio (FAR) requirements.

There are 3 vacant buildings across the parcels that were built between 1935 and 1973 – building sizes are listed on page 4 under Parcel Information.

Area Description

The property is extremely well situated between Downtown Champaign and the University of Illinois, which boasts an enrollment of over 56,000 students, and 15,000+ faculty and staff. The site is easily accessed and bordered to the north by the Illinois Terminal, to the west by Neil Street and to the south by Springfield Avenue – both of which are major arterials through the market.