201 W University Ave, Champaign, IL
Office for Sale - $3,950,000 - 30,024 Sq. Ft. on 1 acres
Agent Info
| Joshua Markiewicz Coldwell Banker Commercial Devonshire Realty |
Property Info
| CIMLS# | 1146578 |
| Location 201 W University Ave Champaign IL 61820 | |
| Updated | March 18th, 2024 |
| Type | Office |
| Price | $3,950,000 |
| Building | 30,024 Sq. Ft. |
| Land | 1 acres |
Property Description
Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer the opportunity to acquire 201 W University Avenue in Champaign, IL. Chase Bank (S&P: A+) occupies approximately 48 percent of the property with a full-service bank branch with drive-thru, while the remaining portion of the building is occupied by Securitas AB (S&P: BBB-/A-3).
JPMorgan Chase Bank, N.A. signed a brand new 20-year lease with four, ten-year option periods in 2007. The lease is signed by the corporate entity and is gross with Chase paying their proportionate share of increases in real estate taxes, operating expenses and utilities over the base year.
Securitas AB signed a new 5-year lease in 2019 and their lease term expires in November 2024, but they’re open to an early termination, creating a perfect opportunity for an owner-occupant or investor.
201 W University Avenue was built in 1974 and fully remodeled over the years. Chase Bank occupies 14,554 SF and approximately 13,008 SF is occupied by Securitas AB, with an additional +/- 2,462 SF in common area.