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Listed by Jill Guthof GUTH & ASSOCIATES,LLC
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Est. payment | /mo
5,561 SqFt
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Est. payment | /mo
5,561 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 5,561 sqft
MLS Listing ID 12551856
Year Built 1900
Annual Tax Amount $15,376
Tax Year 2024
Lot Dimensions 130.08 x 203
Property Sub-Type Mixed Use
Property Description
Unique Downtown Urbana Mixed Use - Redevelopment Opportunity. Pleased to offer this well-located property on Race Street, currently home to Analog Wine Bar. The two-building, one- and two-story brick structure totals approximately 5,561 SF and sits on a .61 acre lot (effective usable site area of approximately 21,000 SF), with on-site parking for 25 vehicles and abundant nearby public parking. Constructed circa 1900 and thoughtfully updated, the property features a remodeled first floor with refinished concrete floors, high ceilings, updated mechanicals, electrical, plumbing, and a membrane roof. The ground level includes a coffee/wine bar, lounge, kitchen/prep area, event space, offices, restrooms, and access to a rear deck for outdoor use. The second floor (1,445 SF) is currently configured as office space and is well-suited for future residential or creative reuse with renovation. The property is zoned B-4 (Central Business), allowing for a wide range of high-density commercial uses including restaurant, retail, tavern, office, and upper-story residential. Directly adjacent and north of the property is multiple parcels owned by the City of Urbana and recently the buildings were demolished to make way for a large scale redevelopment project. The City of Urbana will be releasing a developer request for proposal in late spring 2026. 129 Race could be included in a developer project to increase the magnitude of a project. Property Highlights: Analog Wine Bar lease in place; tenant pays utilities and maintenance. Second-floor tenant on a month-to-month lease . Strong downtown location with excellent visibility and access. Functional mixed-use layout consistent with highest and best use. Opportunity to be purchased to enhance a redevelopment project to the north. This offering presents a compelling opportunity for an investor or owner-user seeking a stabilized asset with upside potential in a central business district setting. Building Size: 5,561 SF (4,116 SF first floor; 1,445 SF second floor). Site Size: 26,406 SF total (21,000 SF usable). Construction: Circa 1900 brick building; one- and two-story. Zoning: B-4 - Central Business District. Current Use: Mixed-use (restaurant / wine bar, office, flex space). Income & Tenancy: Analog Wine Bar lease in place ; tenant pays utilities & maintenance. Second-floor tenant month-to-month . Building Features: Recently remodeled first floor with refinished concrete floors. Updated mechanicals, electrical, and plumbing. Gas-fired forced air HVAC with central A/C (both floors). Membrane roof. Rear deck and exterior access for event or outdoor use. Parking & Access 42 on-site parking spaces (some leased to neighboring tenants; ~25 usable). Abundant nearby public parking. Location & Use Potential: Strong Race Street frontage with high visibility. Suitable for restaurant, retail, tavern, office, or mixed-use. Upper floor adaptable for office or residential conversion (with renovation).
Location
State IL
County Champaign
Zoning COMMR
Interior
Cooling Central Air
Flooring Concrete, Vinyl
Fireplace N
Exterior
View Y/N true
Roof Type Membrane
Building
Foundation Brick/Mortar
Structure Type Brick
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