For Sale
$970,000

507 Broadway Ave Urbana, IL 61801

Downtown Urbana office space, ample parking, TIF eligible.

Property Records

Overview

Added:
Feb 3
Days on market:
85
This exceptional 5,100 square foot office building is ideally situated at 507 S. Broadway Avenue in Urbana, Illinois. The property boasts seven individual offices, a spacious reception/lobby area perfect for client interaction, and a secure record vault for sensitive documents. A convenient kitchenette and separate men's and women's restrooms add to the functionality of the space. Natural light floods the interior thanks to multiple atriums, creating a bright and welcoming atmosphere. One office even features a large private balcony. Access is convenient via elevator from the main lobby, or by using one of the two stairwells. Ample on-site parking is provided, supplemented by additional on-street parking options. The building's location offers unparalleled convenience, being within walking distance of Lincoln Square Mall, Urbana City offices, the Champaign County Courthouse, the Federal Courthouse, and the heart of downtown Urbana. Easy access to I-74 is provided via Vine Street/Cunningham Avenue. This property benefits from aggressive B-3 and B-4 zoning, presenting significant potential for future development in Urbana's growing downtown area. Furthermore, the City of Urbana offers TIF incentives for this location. Owner financing is available with a 25% down payment, a 6% interest rate, and a 5-year balloon payment. This presents a unique opportunity for a business seeking a prominent and well-equipped office space in a thriving urban setting.

Property Details for 507 Broadway Ave

Property type
Office properties
Square Feet
5,100 SF
Year Built
1972

Location Insight

City
Urbana
County
Champaign
State
Illinois
Latitude
40.10864
Longitude
-88.20768

FAQs

What type of property is this?
Office property - Downtown Urbana office space, ample parking, TIF eligible.
Where is the office property located?
The property is located at 507 Broadway Ave Urbana, IL.
What is the asking price?
The asking price for this property is $970,000.
How can I contact the broker?
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507 Broadway Ave
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