Urbana, IL Commercial Real Estate for Lease and Sale

Explore 28 listings of Urbana commercial real estate to find the best space for your business.

110 E University Ave

110 E University Ave, Urbana, IL
Property

Retail

1,440 SF
Availability

1 Space

1,440 SF
For Lease

$12.00/SF/YR
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1206 N Cunningham Ave

1206 N Cunningham Ave, Urbana, IL
Property

Retail

9,140 SF
Availability

1 Space

9,140 SF
Year Built

1992
For Lease

$8.00 - $12.00/SF/YR
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RETAIL/OFFICE LOT FOR SALE OR BTS SALE LAND OFFICE RETAIL 155,074 SF

2002 E Windsor Rd, Urbana, IL
Property

VacantLand

155,074 Acre
For Sale

$785,000
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1720 Philo Rd

1720 Philo Rd, Urbana, IL
Property

Retail

12,000 SF
Availability

3 Spaces

5,933 SF
Year Built

2009
For Lease

$13.00 - $14.00/SF/YR
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What type of listing property are you looking for?

Office Retail

Retail Land
RETAIL SPACE FOR SALE

1605 N Cunningham Ave, Urbana, IL
Property

Retail

3,699 SF
Year Built

2002
For Sale

$375,000
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Development Land Opportunity For Sale

507 Crystal Lake Dr, Urbana, IL
Property

VacantLand
For Sale

$135,000
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1806 Philo Road

1806 Philo Rd, Urbana, IL
Property

Other
For Sale

$265,000
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Urbana Medical Office

1209 E Colorado Ave, Urbana, IL
Property

Office

2,200 SF
Availability

1 Space

2,500 SF
For Lease

$17.00/SF/MO
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901 W University Ave

901 W University Ave, Urbana, Champaign, IL
Property

Office

32,000 SF
Availability

1 Space

32,000 SF
Year Built

2009
For Lease

$16.00/SF/YR
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500 Art Bartell Road

500 Art Bartell Rd, Urbana, IL
Property

Multi-Family

119,261 SF
Year Built

2005
For Sale

Subject To Offer
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520 N Cunningham Ave

520 N Cunningham Ave, Urbana, IL
Property

Office

3,264 SF
Availability

1 Space

3,264 SF
Year Built

2019
For Lease Contact for pricing
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1805 Philo Rd

1805 Philo Rd, Urbana, IL
Property

Retail

25,576 SF
Availability

1 Space

25,576 SF
Year Built

1965
For Lease

$10.00/SF/YR
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1717 Philo Rd

1717 Philo Rd, Urbana, IL
Property

Retail

1,092 SF
Availability

1 Space

1,092 SF
Year Built

1969
For Lease

$1,100.00/MO
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Urbana Land Available - 1011 and 1101 Bradley Avenue

1011 and 1101 Bradley Avenue, Urbana, IL
Property

VacantLand
For Sale

$6,042,643.2
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LOT FOR SALE

3506 N Cunningham Ave, Urbana, IL
Property

VacantLand
For Sale

$495,000
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MULTIFAMILY LAND FOR SALE

1208 W Bradley Ave, Urbana, IL
Property

VacantLand
For Sale

$649,000
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1901 S. Philo Rd.

1901 S. Philo Rd., Urbana, IL
Property

Retail

6,617 SF
Availability

1 Space

3,428 SF
For Lease Contact for pricing
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Downtown Urbana Office Space

115 W Main St, Urbana, IL
Property

Office

17,146 SF
Availability

1 Space

11,881 SF
For Lease

$12.00/SF/YR
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Blain's Urbana, Lot 5

2701 North Cunningham Avenue, Urbana, IL
Property

VacantLand

44,866 SF
For Sale Contact for pricing
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Blain's Outlots

2701 N. Cunningham Avenue, Urbana, IL
Property

VacantLand

238,270 SF
Availability

5 Spaces

238,270 SF
For Lease Contact for pricing
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IL Rt. 130 @ US 150

100 S High Cross Rd, Urbana, IL
Property

Land

26 Acre
For Sale Contact for pricing
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Office/Retail Suites on University Campus

710 S Goodwin Ave, Urbana, IL
Property

Office

35,425 SF
Availability

2 Spaces

2,535 SF
For Lease

$9.00 - $16.00/SF/YR
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Blain's Urbana, Lot 6

2701 North Cunningham Avenue, Urbana, IL
Property

VacantLand

44,866 SF
For Sale Contact for pricing
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Blain's Urbana, Lot 1

2701 North Cunningham Avenue, Urbana, IL
Property

VacantLand

47,916 SF
For Sale Contact for pricing
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26.93 ACRES AT AIRPORT ROAD, VANCE ROAD, AND CUNNINGHAM AVE, URBANA

N Cunningham Ave, Urbana, IL
Property

VacantLand
For Sale

$1,250,000
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Blain's Urbana, Lot 2

2701 North Cunningham Avenue, Urbana, IL
Property

VacantLand

49,222 SF
For Sale Contact for pricing
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Blain's Urbana, Lot 7

2701 North Cunningham Avenue, Urbana, IL
Property

VacantLand

51,400 SF
For Sale Contact for pricing
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OUTLOT FOR SALE/LEASE/BTS

1711 Philo Rd, Urbana, IL
Property

VacantLand
For Sale

$425,000
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Frequently Asked Questions

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate. However, there are three main categories that you are most likely to come across: office, retail, and industrial space.

Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Urbana commercial real estate market incorporates 37,625 square feet of office space across 5 buildings.

Office buildings can also accommodate coworking spaces, which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis.
Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Urbana commercial real estate market includes 6,617 square feet of retail space in a variety of settings.
Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities.

The listing inventory in Urbana incorporates commercial real estate for lease and for sale of almost all property types and subtypes. However, you’ll find some categories offer more rental or investment opportunities than others.

The largest share of commercial real estate space for lease in Urbana is represented by Retail space, which accounts for 46,609 square feet of available listings. Office space available in Urbana adds up to 40,299 square feet.

Meanwhile, most of the listings of commercial property for sale in Urbana are in the Retail category.

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

The average rent for commercial real estate space listed for lease in Urbana is $12.28 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Urbana can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset.

Whether you are looking for commercial real estate for lease or commercial property for sale, the best choice of location depends on the factors that are most relevant to your business strategy. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type.

As such, there are several areas that you could consider to be the best location for commercial real estate in Urbana, depending on the property type you are interested in.

Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

Regardless of whether buying or leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker. In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market, the property type you need representation for, and will handle negotiations on your behalf in your best interest.

To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker. Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests.

CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $16 per square foot.

The average size of a commercial property in Urbana depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use:

In Urbana, the average size of an office property is 18,813 square feet.
Retail properties here incorporate an average of 6,617 square feet.

Urbana, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial real estate listings for rent in Urbana currently add up to 337,059 square feet. The market offers 5 active office listing(s), which amount to 52,180 square feet and account for 41% of commercial spaces on the market. Local retail availability includes 46,609 square feet across 6 retail space(s).

Property Type	Count of Listings	Total SF
Office	5	52,180
Retail	6	46,609
Other	1	238,270

Commercial Space for Sale Breakdown

What’s more, if you are interested in making an investment in the local market, you can also find commercial real estate for sale in Urbana, IL. Currently, there is 516,330 square feet of commercial property for sale here , which includes , 1 retail investment opportunity listing(s) .

Property Type	Count of Listings	Total SF
Retail	1	3,699
Other	15	512,631

Urbana, IL Commercial Real Estate for Lease and Sale

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Urbana, IL?

What factors affect the price of commercial real estate in Urbana, IL?

What is the average rent for commercial space in Urbana, IL?

What are the best areas for commercial real estate in Urbana, IL?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Urbana, IL?

Urbana, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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