Prime Development Land For Sale
Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale an incredible opportunity to acquire approximately 3.307 acres of prime development land located in Champaign, Illinois at the convergence of Downtown, Midtown and Campustown.
This is truly a unique opportunity to acquire a large development site in a dense location with flexible zoning, and it may be possible for a buyer to assemble additional parcels to create an even larger development site.
The property consists of 10 parcels totaling approximately 144,053 SF (3.307 acres) and the site is mixed-zoned CB1 – Central Business Urban Fringe and CB2 – Central Business Downtown. CB1 zoning allows for a maximum building height of 85’ and CB2 allows for 115’, while neither zoning classification has any setback, open space reserve (OSR) or floor to area ratio (FAR) requirements.
There are 8 vacant buildings across the parcels that were built between 1915 and 1980 – building sizes are listed on page 4 under Parcel Information.
The property is extremely well situated between Downtown Champaign and the University of Illinois, which boasts an enrollment of over 56,000 students, and 15,000+ faculty and staff. The site is easily accessed and bordered to the north by the Illinois Terminal, to the west by Neil Street and to the south by Springfield Avenue – both of which are major arterials through the market.