129 N Race St, Urbana, IL 61801 For Sale

Guth & Associates is 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 and footprint of a project.

Property Highlights:

• Analog Wine Bar lease in place at $1,500/month (gross); tenant pays utilities and maintenance

• Second-floor tenant on a month-to-month lease at $800/month (gross)

• 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.