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Historic Restaurant Property 201 N Broadway Ave 2,458 SF Retail Building Urbana, IL 61801 $750,332 CAD ($305.26 CAD/SF)
Investment Highlights
- Heavy daytime and nighttime traffic
- Fully renovated and move-in ready
- Minutes to U of I Campus
- For sale or lease
Executive Summary
Positioned in the heart of downtown Urbana IL, this former restaurant property at 201 N Broadway Ave presents a rare opportunity to establish a high-visibility food and beverage concept in one of Central Illinois' most active commercial corridors. Located just minutes from the University of Illinois Urbana-Champaign campus, the site benefits from consistent foot traffic driven by students, faculty, and year-round community activity. The property features an existing restaurant layout, offering the opportunity to step into a fully built-out, character-rich space with proven community appeal. Featuring tall ceilings and an inviting, energetic atmosphere, the efficient space provides seating for approximately 55 guests across a mix of built-in booths, tables, and bar seating. A standout focal point is the art deco back bar and mahogany bartop, creating a warm and inviting guest experience. The front patio allows for additional seating for 16 in the warmer months. This restaurant has benefited from numerous recent upgrades, reducing immediate capital needs and making it truly turnkey for the next operator. Included in the offering is a 15-space parking lot directly across the street, a valuable amenity in a downtown setting. Surrounded by a mix of local retailers, entertainment venues, and residential density, this location is ideal for a wide range of concepts including fast casual, full-service dining, cafe, or specialty food use. With strong visibility along Broadway Avenue, with close proximity to key downtown anchors this is a prime opportunity to capitalize on Urbana's growing food scene and vibrant local economy. This property is within Urbana's TIF and Enterprise Zone districts.
Taxes & Operating Expenses (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Taxes |
$139,982
|
$56.95
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$139,982
|
$56.95
|
Taxes & Operating Expenses (Actual - 2024)
| Taxes (CAD) | |
|---|---|
| Annual | $139,982 |
| Annual Per SF | $56.95 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $139,982 |
| Annual Per SF | $56.95 |
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Building Size
2,458 SF
Building Class
C
Year Built
1899
Price
$750,332 CAD
Price Per SF
$305.26 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.37
Lot Size
0.15 AC
Zoning
B-4 - Central Business District
Parking
15 Spaces (6.1 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Corner Lot
- Restaurant
- Air Conditioning
Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Total Assessment | $136,328 CAD | |
| Land Assessment | $45,292 CAD | Annual Taxes | $139,982 CAD ($56.95 CAD/SF) |
| Improvements Assessment | $91,036 CAD | Tax Year | 2024 Payable 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$45,292 CAD
Improvements Assessment
$91,036 CAD
Total Assessment
$136,328 CAD
Annual Taxes
$139,982 CAD ($56.95 CAD/SF)
Tax Year
2024 Payable 2025
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Historic Restaurant Property | 201 N Broadway Ave
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