Government Owned Real Estate Auction
Prime Campustown Multi-Family Student Housing Development Parcels
Initial Bids Due June 26th, 4:00 p.m.
Live Auction June 28th, 11:00 a.m.
A 1.3 +/- acre & 0.53 +/- acre site
Buy one or Buy Both.
Zoned MF University
Parcel 1 - 1.3 Ac. - 207 E. White St, Champaign, IL 61820
- (SW Corner of Third & White)
- Legal: Lots 1 - 7, W.H. Stoltey, Sub. of Block 2, Stamey Subdivision, City of Champaign, Champaign County, Illinois
- Land Size: 1.3 +/- Ac. / 59,824 SF (213.05' x 280.05')
- Tax ID Number: 46-21-07.357-005,-006,-007,-011,-12,-013,-014,-015
Parcel 2 - 0.53 Ac. - 207 E. Stoughton St., Champaign, IL 61820
- Legal: Lots 1, 2, & 3 of J.C. Kirkpatrick's 2nd Addition, Sub. of Block 4, City of Champaign, IL, Champaign County Illinois
- Land Size: 0.53 +/- Ac. / 23,136 SF - (198' x 132')
- Tax ID Number: 46-21-07-351-004,-005,-006,-007,008
There is a tremendous demand for new product in the twin cities. Champaign and Urbana are twin cities centered in Champaign County in East Central Illinois. They are surrounded by some of the most productive farmland in the world and offer easy access to major cities. The Champaign-Urbana Mass Transit District (MTD) was twice named the Best Transit System (for its size) by the American Public Transit.
The cities of Champaign and Urbana, in partnership with the University of Illinois and the MTD, have been awarded $35,000,000 of federal money for a multi-modal corridor enhancement project. This project connects downtown Champaign with downtown Urbana, and involves enhancing mobility choices, emphasizing various bike route improvements, improving infrastructure and landscaping. It involves Green Street from Neil Street to Race Street, as well as enhancements along White Street, Wright Street, and Armory Avenue.
This corridor project will be designed in five phases, occurring between 2017 and 2020. By virtue of this project, the campus commercial corridor, as well as other areas of campus, will be enhanced, adding landscaping amenities, raised bike paths, and street improvements. Champaign County netted a population increase of 11.9% from 2000 to 2010. Population trends have been positive over the past fifty years, with an increase in Champaign County population of 23%, while the State of Illinois grew 15.5% in the same period.
The area's strong, stable economic base is sustained by the University of Illinois. Also included among the areas largest employers are Carle Hospital & Clinic, Presence Health, Parkland College, local school districts, government offices, FedEx, C-U Mass Transit District, Flex-N-Gate, Amdocs, Wolfram Research, Busey Bank, Vista Outdoor, Kraft Heinz, Rantoul Foods, SuperValu, Jeld-Wen, Horizon Hobby, Hobbico, and Plastipak. Both Carle Clinic and Christie Clinic have expanded their locations to include southeast Urbana and southwest Champaign.
Local industry is dominated by food service, high technology and research employers. Agricultural land use dominates the county, with the trend toward fewer but larger farms.
Midtown Plaza, On the east side of First Street, boasts a two five-story, mixed-use buildings with 35,000 square feet of commercial space (including two spots for restaurants) and 108 one- and two-bedroom apartments. Cost:$23 million. The signature development will transform two city blocks of First Street between Springfield Avenue and White Street with new apartments and commercial spaces. And to add to the appeal an outdoor plaza for smaller-size public events and a design that allows for plentiful open space.
Plans also include 100 parking spaces underground and 32 surface parking spots around the project itself, and the city plans to improve Marshall Street with additional parking there.
Midtown Plaza is a great example of the demand for development and will serve as a catalyst for future development in the area.
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