115 S 1ST ST Champaign IL 61820-4117

Have it all: A high-traffic, downtown corner turnkey restaurant, ideally suited for use as a bar-and-grill, close to campus, but with on-site, owned parking, development potential, and some additional rental income.

For sale is 12,982 SF of land - Zoned CB-1. Currently developed with an operating restaurant, and a second commercial building that is leased to Byer's Vacuum with an apartment on the second floor. University Avenue has a 16,700 daily traffic count. First Street has 5,600. Just under the Viaduct from the new Yards Project. Three doors down from the distillery project under construction at Water and Chester Streets. Manzella's Italian Patio Restaurant is currently open just 35 hours per week. The building is sound, with a new roof in 2021, and the concept has tremendous potential for growth. A gaming room was built out, but machines were removed in 2020 because of the pandemic. It would be simple for a new operator to reinstall them. With an SBA 504 loan and the rental income from the neighboring building, an owner-operator would be looking at a payment including taxes and insurance of around $5,000 per month. This is an affordable option for any concept looking to escape the campus traffic jam and seasonal downturns while still delivering to campus in minutes. Own your own building, and stop paying rent.

The owners of the adjoining properties to the West have suggested that they would be interested in discussing a possible sale as well, if the purchaser were interested in more land.

Also available for lease, the Restaurant building would be available for $5,000 / Mo NNN. The owners would consider owner-financing or participating in a development with a qualified developer.