Urbana, IL 61801 201 N Broadway Avenue
$550,000



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Presented By: Coldwell Banker R.E. Group
Home Details
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.
Presented By: Coldwell Banker R.E. Group
General for 201 N Broadway Avenue
Additional Parcels Description912108461003
Additional Parcels Y/NYes
Assoc Fee Paid PerNot Applicable
Cap Rate
CityUrbana
Construction MaterialsBrick
CoolingCentral Air
CountyChampaign
DirectionsTake the Lincoln Ave exit (Exit 182) from I-74 south on N Lincoln Ave. Continue for about 1.5 miles. Turn left onto W Main St. then left onto Broadway Ave. Building is 1 block north on the left.
ElectricService - 201 to 600 Amps
Gross Income
Leasable Area2458
Lease TypeNet
Lot Size Square Feet6718
MLS AreaUrbana
Net Operating Income
Number Of Units Total0
Operating Expense0
PossessionClosing
Property SubtypeRestaurant
Property TypeCommercial Sale
Property TypeRetail/Stores
Standard StatusActive
StatusActive
Stories Count1
Tax Annual Amount10260.48
Tax Year2024
Tenant PaysCommon Area Maintenance, Taxes, Insurance, Repairs, All Utilities
Total Actual Rent3500
TownshipCunningham
UtilitiesElectric to Site, Natural Gas Available, Sewer Connected, Water Available
Year Built1899
ZoningCOMMR
Exterior for 201 N Broadway Avenue
Building Area Total2458
Foundation DetailsBrick/Mortar
Frontage TypeCity Street
Lot Dimensions112 x 21.5
Water SourceMunicipal Water
Additional Details
Price History

SQFT • 2,458