510 N. Cunningham, Urbana IL

Shopping Center for Sale - $2,600,000


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Agent Info

NameAlexander Ruggieri

Property Info

CIMLS #456258
Location510 N. Cunningham
Urbana IL 61802
Last UpdatedNovember 15th, 2017
TypeShopping Center
Price$2,600,000

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Property Description

22,500 SF shopping center. It has a block construction on a poured concrete foundation. Each unit is heated and cooled with individual forced warm air furnaces and central air conditioning and the property is sprinkled. The building is "L" shaped and has 12 in-line units each containing 1,500 SF with the center having 4,516 SF that is currently configured for a single tenant who also occupies the adjoining units to the south and west. Another tenant also occupies two adjoining units although all could be reconfigured for the original 14 spaces. There is an adjoining parcel to the west of the subject of .44 acre. Adjacent to the Walgreens drug store.

Brief Legal: Lots 102 & 103 inFive Points NE Sub

Real Estate Taxes (2014): $84,589

Location Description:

On the corner of Cunningham Ave. and University Ave. There has been a significant amount of new construction at this intersection which includes a Walgreen drug store and there is a mix of commercial uses along Cunningham including auto sales lots, auto repair facilities, restaurants, offices, retail, motel, service station/convenience store and neighborhood strip centers.

Champaign-Urbana is a Big Ten community and growing tech center. C-U connects with Interstates 57, 72, and 74. C-U is home to the University of Illinois, Parkland College, and two major regional hospitals (Carle Foundation and Presence Covenant Medical Center). Champaign County is a leader in education, health care, government, technology, industry and agriculture. Chicago is approx. 2 hours north, Indianapolis is approx. 2 hours west and St.Louis is approx. 2 1/2 hours south.

Highlights:

>> 22,500 SF Retail Center

>> High Traffic Intersection

>> Adjacent To Walgreens Drug Store

>> I-74 Exit Two Miles North

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** This property also has spaces available for lease.