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$ 550,000
Est. payment | /mo
2,458 SqFt
$ 550,000
Est. payment | /mo
2,458 SqFt
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Pending
Purchase Type For Sale
Square Footage 2,458 sqft
Price per Sqft $223
MLS Listing ID 12616009
Year Built 1899
Annual Tax Amount $10,260
Tax Year 2024
Lot Dimensions 112 x 21.5
Property Sub-Type Retail/Stores
Property Description
Positioned in the heart of downtown Urbana IL, this former restaurant property at 201 N Broadway Ave presents a rare opportunity to establish a high-visibility food and beverage concept in one of Central Illinois' most active commercial corridors. Located just minutes from the University of Illinois Urbana-Champaign campus, the site benefits from consistent foot traffic driven by students, faculty, and year-round community activity. The property features an existing restaurant layout, offering the opportunity to step into a fully built-out, character-rich space with proven community appeal. Featuring tall ceilings and an inviting, energetic atmosphere, the efficient space provides seating for approximately 55 guests across a mix of built-in booths, tables, and bar seating. A standout focal point is the art deco back bar and mahogany bartop, creating a warm and inviting guest experience. The front patio allows for additional seating for 16 in the warmer months. This restaurant has benefited from numerous recent upgrades, reducing immediate capital needs and making it truly turnkey for the next operator. Included in the offering is a 15-space parking lot directly across the street, a valuable amenity in a downtown setting. Surrounded by a mix of local retailers, entertainment venues, and residential density, this location is ideal for a wide range of concepts including fast casual, full-service dining, cafe, or specialty food use. With strong visibility along Broadway Avenue, with close proximity to key downtown anchors this is a prime opportunity to capitalize on Urbana's growing food scene and vibrant local economy. This property is within Urbana's TIF and Enterprise Zone districts.
Location
State IL
County Champaign
Area Urbana
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available, Sewer Connected, Water Available
Building
Dwelling Type Retail/Stores
Water Municipal Water
Structure Type Brick
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Listed by Alisa Demarco of Coldwell Banker R.E. Group