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- LoopNet Team
802 W Illinois St
Urbana, IL 61801
Opportunity Zone - West IL Development · Land For Sale
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0.29 ac
PROPERTY FACTS
DESCRIPTION
Well positioned contiguous parcels located in a federally designated opportunity are being offered at the intersection of West Illinois and South Busey for 1,350,000. The 3 Parcels represent a .54 acre development site sitting 1 half block from the University of Illinois campus. The site Is bound by South busy street on the East (246’ frontage) and West Illinois street to the South (95” of frontage). University of Illinois enrollment in 2017 was 47,826 students and the University employs another 10,845 faculty and staff. West Illinois street is one of the central East West corridors entering into campus. University of Illinois has grown for the last 15 years and there are continued plans for growth. Presently there are 3 income producing residential rental properties located on the site garnering $126,600 gross cash floor annually. The parcels are zoned R5 and R5 in Urbana has an FAR of .9.
