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.
Property Details
Price:
$475,000
MLS #:
MRD12481559
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Subtype:
Restaurant
Neighborhood:
urbana
Listed Date:
Sep 26, 2025
Total Sq Ft:
4,040
Year Built:
1900
See this Listing
Schools
Interior
Cooling
Central Air
Exterior
Stories
2
Financial
HOA Fee Frequency
Not Applicable
Tax Year
2024
Taxes
$7,795
Map
Community
- Address114 South Race Urbana IL
- CityUrbana
- CountyChampaign
- Zip Code61801
Market Summary
Current real estate data for Commercial in Urbana as of Jun 09, 2026
13
Commercial Listed
149
Avg DOM
$797,977
Avg List Price
Property Summary
- 114 South Race Urbana IL is a Commercial for sale in Urbana, IL, 61801. It is listed for $475,000
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114 South Race
Urbana, IL


