114 South Race Urbana, IL ^$ 515,000

114 South Race

^$ 515,000

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114 South Race

Urbana, IL, 61801

^$ 515,000

Bedrooms-- Baths-- Sq 4,040

Monthly Estimate*

^$ 3,213

114 South Race, Urbana, IL 61801 - Image 1

Commercial Property for sale in Urbana, IL

for $515,000. This 4,040 square foot building was built in 1900 on a lot size of 0.060973.

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.

Commercial Active

Price

^$ 515,000

Property Type

Commercial

Taxes

^$ 7,795

Style

Lot Size

0.060973

Year Built

1900

Town/City

Urbana

County/Region

Champaign

MLS | Web ID

12481559

Features

General

Cooling Central Air

Zoning RTAIL

Year Built 1900

Electric Service - 101 to 200 Amps

Stories Count 2

Property Subtype Restaurant

Tax Year 2024

County Champaign

Net Operating Income 7000

Property Type Commercial Sale Retail/Stores

Status Active

Directions Right in the middle of thriving downtown Urbana

City Urbana

MLS Area Urbana

Lot Size Square Feet 2656

Tax Annual Amount 7795.4

Additional Parcels Y/N N

Leasable Area 2300

Standard Status Active

Exterior

Building Area Total 4040

Lot Dimensions 23*115.5

* Excluded Features

List By

Weiner Co., Ltd.

Broker

jonahweisskopf@hotmail.com

Affordability Calculator

$3,863

Per Month

Monthly Principal & Interest: $3,213
Monthly Property Taxes: $650
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Urbana, IL

Average List Price ^$556,600

Percent of Sale Price 8%

About Urbana, IL

41,987 Population

11% Since 2002

^$39,331 Median Income

26.41 Median Age

16% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

565567 Elementary School

567955 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
9/26/2025	$515,000		Listed Price

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114 South Race, Urbana, IL, 61801 is a Commercial Property for sale at $515,000 with 4,040 sqft and a lot size of 0.060973. 114 South Race was built in 1900. The property's zip code is 61801 which is in Urbana, IL

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Weichert Realtors are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Data is updated as of 12/10/2025.

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114 South Race

Commercial Property for sale in Urbana, IL

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