401 N Broadway Avenue Urbana, IL $ 1,600,000
401 N Broadway Avenue
$ 1,600,000
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401 N Broadway Avenue

Urbana, IL, 61801
$ 1,600,000
Baths0.0 Sq 15,021

Monthly Estimate*

$ 9,583

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Studio

Commercial Property for sale in Urbana, IL

for $1,600,000. This 15,021 square foot building was built in 1963 on a lot size of 0.688705.

Exclusively offering 401 N Broadway Urbana, commonly known as the Broadway Food Hall, for sale. The 15,000 SF building located near Downtown Urbana underwent an extensive remodel in 2017 and the main building features multiple commercial kitchen spaces, a bar area and an expansive open space for events. The space was previously used as a food court with multiple restaurants and has been used as an event center for weddings and other special events and meetings. The commercial kitchens include exhaust hood systems, sinks, and there is a walk in cooler and freezer to serve the commercial kitchens. The property is located just south of University Avenue and near the downtown business district. National grocer, H-Mart, will be located directly across the street which will be in the fall, 2024. Downtown Urbana employment will be growing with the relocation of the Champaign County offices to 201 Main in the downtown area. There is ample on-street parking as well as public parking near the property and the location is walkable to the downtown area. Opportunity for outdoor seating area on the east side of the building. The property could be reactivated as a food hall/event center or reimagine as a community center, an open concept office building, art gallery, retail and much more.

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Commercial Active

Price

$ 1,600,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 19,724

Style

Commercial

Lot Size

0.688705

Year Built

1963

Town/City

Urbana

County/Region

Champaign

MLS | Web ID

12123250

Features
General
Cooling Central Air
Utilities Electric to Site Gas to Site Sanitary Sewer Water to Site
Possession Closing
Roof Membrane
Zoning COMMR
Construction Materials Concrete
Year Built 1963
Electric Service - 201 to 600 Amps
Tenant Pays Other
Stories 1
Property SubType Mixed Use
Tax Year 2023
Current Use Commercial
Gross Income 0
County Champaign
Net Operating Income 0
Insurance Expense 0
Property Type Commercial Sale Mixed Use
Status Active
Directions Located just north of the Downtown Business District of the city of Urbana. Along the west side of Broadway Ave. just north of the Penn Central Railroad tracks
City Urbana
NumberOfUnitsTotal 1
MLS Area Urbana
Lot Size Square Feet 30000
Tax Annual Amount 19724
Electric Expense 0
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 0
Additional Parcels Y/N N
Days on Market 21
Standard Status Active
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Exterior
Building Area Total 15021
Lot Dimensions 257 X 137
Exterior Block
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* Excluded Features
List By
Guth & Associates,Llc

Broker

jake@guthandassociates.com

Email

Affordability Calculator

$11,226
Per Month
85%
15%
0%
Monthly Principal & Interest
$9,583
Monthly Property Taxes
$1,644
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/30/2024$1,600,000 Listed Price

Map


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401 N Broadway Avenue, Urbana, IL, 61801 is a Commercial Property for sale at $1,600,000 with 15,021 sqft and a lot size of 0.688705. 401 N Broadway Avenue is a studio with 0.0 baths and was built in 1963. The property's zip code is 61801 which is in Urbana, IL