507 Crystal Lake DrUrbana, IL 61802

This exceptional .35-acre commercial land parcel, located at 507 Crystal Lake Dr, Urbana, IL 61802 (APN: 91-21-08-426-003), presents a unique development opportunity. Priced at $135,000 ($8.96/sq ft), this property is zoned B3 General Business, allowing for diverse commercial uses. The lot boasts existing utilities and is conveniently situated near the Cunningham Avenue/Rt 45 commercial retail district, less than a thousand feet from the intersection of Cunningham Avenue and University Avenue, just north of the 5 Points Commerce Centre. This high-traffic area offers excellent visibility and accessibility. Nearby established businesses include Walgreens, McDonald's, Arby's, Wendy's, and more, ensuring a strong customer base. The property's development potential is further enhanced by its setbacks (15' front, 5' side, 10' rear), maximum floor area ratio (FAR) of 4.0, and no minimum open space ratio (OSR) or maximum height restrictions. This presents a rare chance to build a significant commercial structure in a thriving retail corridor. The site was formerly part of a mobile home park, which has since been cleared, providing a clean slate for development. This is an ideal investment for developers seeking a prime location with significant upside potential.