Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale four adjacent parcels at 59 E Chalmers Street, 61 E Chalmers Street, 1001 S First Street, and 1003 S First Street, Champaign, Illinois ("the Property"). The adjoining parcels total 17,200 SF of land and offer a developer an ideal site for a student housing development on the University of Illinois campus. The property benefits from MFUniv zoning that allows a developer to build up to 75' high, requires minimal setbacks, and has no Floor Area Ratio (FAR) requirements, no Open Space Reserves (OSR) and no parking requirements, allowing a developer to maximize the site.
|Property Type||Redevelopment Land|
|Lot Size||0.39 AC|
Area Description: The Property is located in a highly desirable area on the University of Illinois at Urbana-Champaign campus (49,339 students and 10,845 faculty & staff) and provides an incredible development opportunity for a buyer. The property is extremely well situated just south of Green Street on the corner of First Street and Chalmers Street, and is approximately 0.5 miles from the Main Quad and 0.5 miles from the South Quad. The property is also strategically located immediately north of the University of Illinois Activities and Recreation Center (ARC), Ikenberry Commons, Memorial Stadium (60,670 capacity) and the State Farm Center (15,500 capacity). Nearby properties include a great mix of student apartments, student residence halls, fraternity and sorority houses, and University of Illinois owned facilities including many academic buildings.