313 Mattis AveChampaign, IL 61821

Property Details for 313 Mattis Ave

Lot size

2.50 AC

Property type

Investment properties

Property subtype

Live-work space

APN

412010427004

APU

412010427004

Description

Westgate Mall offers multiple executive office suites for lease, ranging from 145 to 6,000 square feet. This Class B building, totaling 475,891 square feet, is situated on a high-visibility corner at the intersection of Mattis Avenue and Church Street, benefiting from significant daily traffic volume. Mattis Avenue sees an average daily traffic count of 19,800 vehicles, while Church Street boasts 4,250 vehicles per day. The two-story building features an elevator for convenient access and ample parking for tenants and visitors. The property includes well-maintained common areas with restrooms and comfortable seating. Five individual suites are currently available. Lease terms are flexible and adaptable to various needs, accommodating both short-term single-office leases and longer-term commitments for larger spaces. The building is zoned CG. This location provides excellent visibility and accessibility, making it an ideal choice for businesses seeking a prominent presence in a high-traffic area. The minimum leasable space is 145 square feet, while the maximum contiguous space available is 6,000 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $34,997,356

  6.5%

  $32,305,252

  7%

  $29,997,734

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,184,225

  Geo Method

  $14,184,225

• Alternative Use

  Use

  Valuation

  Residential

  $40,058,512

  Hospitality

  $36,693,384

  Educational

  $30,528,464

  Medical

  $31,578,384

  Retail

  $47,488,720

Location Insight

City

Champaign

County

Champaign

State

Illinois

Latitude

40.1191

Longitude

-88.2775

CBSA code

16580

CBSA name

CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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