105 Armory AveChampaign, IL 61820

For Sale
$2,000,000

Prime UIUC location, 13,378 SF lot.

Overview

Added:
Dec 11, 2024
Days on market:
92
Exceptional opportunity to acquire a 13,378 square foot development site located at 105 E Armory Ave, Champaign, IL 61820. This rectangular parcel (approximately 138' x 96') is ideally situated on the University of Illinois at Urbana-Champaign campus, just 0.55 miles southwest of the Main Quad, 0.35 miles north of Memorial Stadium, and four blocks south of Green Street. The property benefits from a highly favorable MFUniv zoning designation, permitting building heights up to 75 feet with minimal setbacks (10' front, 5' side/rear). Parking requirements are minimal for multifamily buildings (one space per four residents for fraternity/sorority uses), and there are no requirements for open space reserves or floor-to-area ratio. This presents a unique opportunity for student housing developers or fraternity/sorority organizations. Furthermore, this location is within a Qualified Opportunity Zone (QOZ), offering potential tax advantages under the 2017 Tax Cuts and Jobs Act. The University of Illinois boasts a student population of 56,403, ensuring high demand for student housing in this vibrant area. The corner lot location at the southwest corner of Armory Avenue and Second Street provides excellent visibility and accessibility. This is a rare development opportunity in a highly sought-after location. The APN is 46-21-18-301-004. The asking price is $2,000,000.

Highlights

  • Exceptional development opportunity on a rare corner lot.
  • Prime location between Green Street and University of Illinois academic and recreational facilities.
  • Zoning is favorable for developers.

Location Insight

City
Champaign
County
Champaign
State
Illinois
Latitude
40.105087
Longitude
-88.23795
105 Armory Ave, Champaign, Illinois

FAQs

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105 Armory Ave
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