214 W Main St, Urbana, IL
Retail for Sale - $970,000 - 8,800 Sq. Ft. on 0.12 acres
Agent Info
| Zach Wetherell, CCIM Coldwell Banker Commercial Devonshire Realty |
Property Info
| CIMLS# | 1182432 |
| Location 214 W Main St Urbana IL 61801 | |
| Updated | February 12th, 2026 |
| Type | Retail |
| Price | $970,000 |
| Building | 8,800 Sq. Ft. |
| Land | 0.12 acres |
Property Description
Property was originally constructed in 1903 and remodeled in 2014 as a bar on the main level and karaoke business on the second level. The main level is 4,400 square feet and consists of a bar area with open area, five karaoke rooms, full kitchen, and restrooms. The second level is 4,400 SF and has its own separate entrance to the space and consists of a bar area with private seating, restrooms, and 7 private karaoke rooms. They karaoke business on the second level has signed a 5 year lease which started in January 2026. The seller is collecting $4,000 per month in gross rent from the second floor tenant with annual $150/month increases in rent. The property has additional storage on an upper level above the second floor. A back stairwell was added in 2014 when the property was remodeled. The building also has a full basement which has a restroom, walk-in cooler/freezer, office space and additional storage. The HVAC system was new in 2014 when the building was remodeled and a new roof was installed in June 2025. The building is sprinkled with a wet system for the first floor and basement levels, and a dry system for the second floor. Currently the first floor and basement space are not being used and would be well suited for an owner-occupied business or to lease out to another business.



