Listed by Colliers - Rosemont, Illinois
$1,023,040
1803-1809 Philo Rd
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 25,576
Tenancy Multi
Price per SqFt $40
Year Built 1965
Acreage 1.220
Zoning B-3
Investment Type Value Add
Ground Lease No
Retail | 25,576 SqFt
Marketing description
Colliers is pleased to introduce this value-add retail center at 1803-1809 Philo Rd, Urbana, IL. The multi-tenant property totals 25,576 SF, including a 13,332 SF vacant Planet fitness JR box. The center sits on the Philo Road retail corridor, roughly two miles from the University of Illinois campus, with strong daytime population and steady, student-driven demand. The opportunity lies in filling the vacant Jr box.
The property spans approximately 25,576 square feet on a 1.22-acre lot and was originally constructed in 1965. With the anchor vacant, the offering is priced on a per-square-foot basis well below replacement cost rather than on in-place income.
Investment highlights
- Value-add opportunity to lease the Planet Fitness gym space.
- Priced below replacement cost.
- In-place income from remaining tenants.
Listing Contacts
Listed by Colliers - Rosemont, Illinois
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Zoning
B3 CommercialGeneral CommercialGeneral Business
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