713 Market StChampaign, IL 61820

Property Details for 713 Market St

Lot size

0.83 AC

Property type

Auto shops

APN

422012289007

APU

422012289007

Description

This exceptional 1.3-acre industrial property at 713 N Market Street in Champaign, IL, presents a unique investment opportunity. The site boasts three buildings totaling 19,300 square feet, offering a blend of historical charm and modern functionality. The newest structure, built in 2000, comprises 9,600 square feet and features a pole-frame design with four 14-foot overhead doors, an 8-inch thick floor, 800-amp electrical service, a small office, multiple bathrooms, central air conditioning, and natural gas space wall heaters. The older structures, dating back to 1881 with additions in 1990 and 1993, encompass 9,700 square feet, including a 5,158 square foot second floor in the original brick building. This section features original hardwood floors and windows, a small office, two bathrooms, and is conditioned with plumbing for an air compressor system. The older buildings have a 6-inch thick floor. The property benefits from its location within the Champaign Enterprise Zone, surrounded by similar industrial and construction businesses, and enjoys excellent visibility along Market Street on the north side of downtown Champaign. This versatile property is ideal for a variety of industrial or commercial uses, offering significant potential for redevelopment or continued operation. The asking price is $1,200,000.

• CAP approach

  CAP return

  Valuation

  6%

  $17,080,204

  6.5%

  $15,766,342

  7%

  $14,640,175

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,867,156

  Geo Method

  $11,867,156

• Alternative Use

  Use

  Valuation

  Residential

  $13,299,500

  Hospitality

  $12,182,270

  Educational

  $10,135,506

  Medical

  $10,484,081

  Retail

  $15,766,342

Location Insight

City

Champaign

County

Champaign

State

Illinois

Latitude

40.1237

Longitude

-88.2393

CBSA code

16580

CBSA name

CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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