Downtown Office Available for Sale or Lease

For Sale

201 W University Ave, Champaign, IL 61820

This Champaign property for sale is located at 201 W University Ave. The general use of Downtown Office Available for Sale or Lease is office and it incorporates 29,615 square feet of class A office space. The current listed sale price for Downtown Office Available for Sale or Lease is $3,495,000. Downtown Office Available for Sale or Lease is situated on a lot that is 0.8 acre in size.

Contacts

broker

Jerry Ramshaw

Ramshaw Real Estate

Property Details

  • Property Type Office - General Office
  • Property Size 29,615 SF
  • Units 3
  • Lot Size 0.8 Acre
  • Additional Rent Contact for pricing
  • Building Class A
  • Date Updated Nov 1, 2024
Located near downtown Champaign and the University of Illinois at Urbana-Champaign campus that boasts world-class research facilities and a diverse pool of talent. Quick access to I-74, I-57, I-72 and the Illinois Terminal. The surrounding area of the property offers convenient access to a mix of dining, entertainment, and retail options, and employers like Christie Clinic, Busey Bank and others.Introducing a prime investment opportunity at 201 W University Ave, Champaign, IL. This 29,615 SF Class A office building is anchored by JPMorgan Chase Bank with 13,000 SF of quality office space available, making it an ideal choice for an investor or owner-occupant. Chase Bank is a full service bank with drive-thru that operates mainly out of the first floor, occupying a total of 14,554 SF. They are currently in a 20-year gross lease that runs through 2027 with four, ten-year renewal option periods. Per the agreement, Chase Bank covers heir proportionate share of the increases in RE Taxes, operating expenses and utilities over and beyond the base year rates. Approximately 10,000 SF is open on the second floor for an owner to occupy or for an office user looking for high quality office space. There is also approximately 3,000 SF available on the lower level of quality office space that offers a unique design allowing for full floor to ceiling windows and ample natural light. 201 University has been updated throughout the years and presents a compelling combination of location, size, and potential, making it a significant asset for investors seeking to expand their commercial real estate portfolio.Available for lease at 201 University is approximately 10,000 SF on the second floor and 3,000 SF on the lower level. This space could be leased in total with elevator access to both locations. It could also be subdivided to meet your space needs. The second floor opens up to a welcoming reception off the elevator. It boasts multiple private offices, a large conference room in the middle of the space that could be a natural spot to divide the space, if needed, and two sets of private bathrooms including one half bath en suite on a corner office. The lower level provides 3,000 SF of office and open work space. There is access to floor to ceiling windows giving ample natural light to the space - a rare find in lower level office layouts. The leasable space at 201 University is being offered at $14/SF NNN.

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Highlights

  • Anchor Tenant - JPMorgan Chase Bank - Occupies 14,554 SF
  • Approximately 13,000 SF of Quality Office Space Available for Owner-Occupant

Getting around

  • 94/100

    Walk Score ®

  • 61/100

    Transit Score ®

  • 88/100

    Bike Score ®

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Location

  • City Champaign, IL
  • Neighborhood West Central Champaign
  • Zip Code 61820

Points of Interest

  • Champaign-Urbana

    0.24 miles

  • Circle K

    0.56 miles

  • QuikTrip

    1.11 miles

  • ChargePoint

    1.12 miles

  • Shell

    1.16 miles

  • Mobil

    1.28 miles

  • Phillips 66

    1.37 miles

  • Tesla Supercharger

    2.21 miles

  • Laura Apartments Parking

    0.25 miles

  • Whitehall Apartments Garage

    0.26 miles

  • Main and Market

    0.27 miles

  • Walnut and Washington

    0.31 miles

  • North First Street Lot

    0.35 miles

  • Parkette 151

    0.67 miles

  • Parkette 154

    0.74 miles

  • Campus Center

    0.85 miles

  • Outpatient Dialysis Visitor Parking

    0.89 miles

  • C10

    0.93 miles

  • Hyatt Place

    0.16 miles

  • Champaign Garden Inn

    0.29 miles

  • TownePlace Suites

    0.86 miles

  • Hampton

    1.11 miles

  • Homewood Suites by Hilton Champaign-Urbana

    1.14 miles

  • Holiday Inn

    1.36 miles

  • Red Roof Inn Champaign - University

    1.36 miles

  • Baymont Champaign

    1.36 miles

  • Fairfield Inn & Suites Champaign

    1.40 miles

  • Courtyard Champaign

    1.43 miles

  • AM-KO Oriental Foods and Gifts

    0.47 miles

  • County Market

    0.65 miles

  • Far East Grocery

    0.71 miles

  • World Harvest Foods

    0.80 miles

  • Target

    0.92 miles

  • Asian Supermarket

    1.10 miles

  • TJ Maxx

    1.50 miles

  • Kohl's

    1.57 miles

  • Gordmans

    1.69 miles

  • Westgate Mall

    1.69 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Jerry Ramshaw

Ramshaw Real Estate