114 South Race, Urbana, IL 61801
Champaign County
Key Facts
Description
Right in the heart of downtown Urbana. 2 story brick building with a first floor restaurant. 2nd floor is currently unfinished. Adjacent building to the South is being developed into a live music opening probably early Fall 2026. Current 1st floor rents are 3500 per month, Tenants pay utilities and all repairs up to 10,000. Low tax assessment. Urbana is on the rise with multiple new businesses opening in the past two years. Perfect for an owner operator or a 'value add' investor who wanted to convert the 2nd floor into a lost.
Property Information
Property Type
Commercial Sale
Sub-Type
Business
Year Built
1900
Stories
2
Living Area
4,040 sq ft
Lot Size
2,656 sq ft
Lot Dimensions
23*115.5
Zoning
RTAIL
Days on Market
214
MLS® Listing#
12481559
Property Features
Cooling
Financial Details
Annual Taxes
$7,795
Tax year 2024
Parcel Number
922117206023
Directions
Right in the middle of thriving downtown Urbana
Affordability Calculator
$95,000
Estimated monthly payment
$2,528/mo
Principal $380,000 · Est. interest $530,134 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Urbana, IL
- $336,111
- Median Listing Price
- 48
- Median Days on Market
- 1,818
- Median Sq Ft
- $172
- Median Price / Sq Ft
- 83
- Active Listings
- This home’s price is 41% above the area median.
- Its price per sq ft is 32% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Urbana, IL.
Location
Points of Interest in Urbana, IL
Showing the Urbana area map.
Nearby Schools
Campus Middle School
School · 0.1 mi away
Urbana School District 116
Secondary · 0.1 mi away
Canaan Academy
School · 0.2 mi away
Illinois Leadership Center
School · 0.3 mi away
Leal Elementary School
Elementary · 0.3 mi away
Urbana Head Start
School · 0.5 mi away
Urbana High School
Secondary · 0.6 mi away
Urbana Middle School
Secondary · 0.6 mi away
Center for Advanced Study
School · 0.6 mi away
Urbana School District #116
School · 0.8 mi away
Circle Academy
School · 0.8 mi away
University Laboratory High School
Secondary School · 0.9 mi away
Urbana School District 116
School · 0.9 mi away
University of Illinois Foundation
School · 1.0 mi away
M L King Junior Elementary School
Elementary · 1.0 mi away
Department of Anthropology
School · 1.0 mi away
Wiley Elementary School
Elementary · 1.0 mi away
Gerber School
School · 1.0 mi away
Career Center
School · 1.1 mi away
Office of the Dean of Students
School · 1.1 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 1508 Trails Drive, Urbana, IL | $340,000 | 4 | 3 | 2,431 |
| 805 W Oregon Street, Urbana, IL | $349,900 | — | — | — |
| 1906 S VENTURI Court, Urbana, IL | $350,000 | 4 | 3 | 2,089 |
| 2730 Philo Road, Urbana, IL | $351,965 | — | — | — |
| 2005 N Kenyon Road, Urbana, IL | $355,000 | — | — | — |
| 207 W Vermont Avenue, Urbana, IL | $365,000 | 4 | 3 | 2,152 |
Moving Cost Estimate
EXIT Agents in Urbana
Listing Courtesy: Weiner Co., Ltd.
Last Updated: 2025-09-26