Listing provided courtesy of GUTH & ASSOCIATES,LLCMREDas Distributed by MLSGrid- MLS# 12510743MLS Provider

118 N Neil StreetChampaign, IL 61820

Commercial
$20 Active

118 N Neil Street Overview

Time on Site:
234 days
Visits:
1

For Lease - Prime Downtown Champaign Retail/Restaurant Space 118 N Neil Street | Champaign, IL | 1,468 SF Located in the heart of vibrant downtown Champaign, this 1,468 SF retail/restaurant space offers a rare opportunity to establish your business in one of the area's most active commercial corridors. Tenant responsible for gas, electric, water/sewer, and interior maintenance including HVAC, plumbing, and electrical. The space features a charming outdoor patio for guest seating and a basement area available for additional storage. Existing kitchen equipment, owned by the property owner, is available for purchase-making this an ideal setup for a restaurant, cafe, or bar concept. Situated on high-traffic Neil Street, this property benefits from both strong pedestrian and vehicle visibility. It's surrounded by a dynamic mix of restaurants, bars, retail shops, and the downtown plaza, with ample street parking and a public parking garage nearby. Previously operated as an ice cream shop, the space offers flexible potential for a variety of creative uses looking to tap into the energy of downtown Champaign. Space could be combined with 116 N Neil to offer approximately 3000 SF of space.

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118 N Neil Street Facts & Features

  • Type Commercial

Details

General

Association/HOA

  • Association Fee Frequency: Not Applicable

Income/Expenses

  • Existing Lease Type: Modified Gross
  • Net Operating Income: 0

Building Information

  • Year Built: 1920

Location/Region

  • County Or Parish: Champaign
  • MLS Area Major: Champaign, Savoy
  • Township: Champaign

Rent/Lease Information

  • Tenant Pays: Repairs, All Utilities

Tax Information

  • Tax Annual Amount: $37,465.80
  • Tax Year: 2024

General Information

  • Property Sub Type: Neighborhood Storefront
  • Property Type: Commercial Lease
  • Zoning: COMMR

Interior

General Information

  • Cooling: Central Individual
  • Electric: Service - 101 to 200 Amps
  • Leasable Area: 3000
  • Stories: 2

Unit Information

  • Unit SqFt.: 1468

Exterior

Lot Information

  • Frontage Type: City Street

118 N Neil Street Neighborhood

Community

61820 (Champaign) Demographics

22
Median Age
5,815
Population Density (per sq. mile)
62%
College Educated
$27,346
Estimated Median Income
3,076
Estimated Total Home Owners
11,231
Estimated Total Renters
21% / 79%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

118 N Neil Street Market Data

Based on the last 30 days in this zip code

$331,967
Average List Price
$185
Average Price per Square Foot
15
Properties Sold
68
Average Days on Market
34
Properties for Sale
Calculations provided by Reliance Network

118 N Neil Street History

Date Event Value Agent
6/6/2026Source: MRED Status Change
Active
6/1/2026Source: MRED Status Change
Re-activated
11/13/2025Source: MRED Status Change
Active
11/8/2025Source: MRED Added to Database
November 08, 2025