For Lease
$10.56/SF/YR

1204 Lincoln Ave Urbana, IL 61801

17,000 SF, 65-Bed Property

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional 17,000 square foot property, situated on a 0.44-acre lot at 1204 S. Lincoln Ave (cross streets: Indiana/Lincoln) in Urbana, Illinois (zip code 61801), presents a unique investment opportunity. Built in 1918, this three-story building was originally designed as a fraternity house, but its R-7 University Residential Zoning allows for diverse uses, including boarding houses, dormitories, community living facilities, and more. The well-maintained structure boasts 15 second-floor bedrooms and 9 third-floor bedrooms, all with dorm-style bathrooms. The main floor features a spacious living room, a sunroom/courtroom, a television room, a formal dining room, and a commercial-grade kitchen, ideal for catering or communal dining. The basement provides ample storage and a laundry room. With its prime location near the University of Illinois campus, this property offers convenient access to shopping and restaurants. The building's significant size (17,000 square feet) and versatile zoning make it an attractive prospect for various uses, promising strong rental income potential. Currently vacant, this property is ready for immediate occupancy and redevelopment. This is a rare chance to acquire a substantial property in a high-demand area.

Highlights

  • R-7 University Residential zoning allows diverse uses including boarding houses, dormitories, and mixed-use developments.
  • 17,255 square foot building.
  • Three-story building with 65 beds; 15 second-floor and 9 third-floor bedrooms with shared bathrooms.
  • Main floor features living room, sunroom, TV room, dining room, and commercial kitchen; basement includes laundry and storage.

Property Details for 1204 Lincoln Ave

Property type
Specialty properties
RSF (Rentable sq. ft)
17,000 SF

Unit(s) available at that property

Space
Size
17,000 SF
Rate per SF
$10.56

Location Insight

City
Urbana
County
Champaign
State
Illinois
Latitude
40.102765188278
Longitude
-88.21910215858

FAQs

What type of property is this?
Specialty property - 17,000 SF, 65-Bed Property
Where is the specialty property located?
The property is located at 1204 Lincoln Ave Urbana, IL.
What is the lease rate?
The lease rate is $10.56/SF/YR.
What are key features of this property?
This property features: R-7 University Residential zoning allows diverse uses including boarding houses, dormitories, and mixed-use developments.; 17,255 square foot building.; Three-story building with 65 beds; 15 second-floor and 9 third-floor bedrooms with shared bathrooms.
How can I contact the broker?
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1204 Lincoln Ave
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