Champaign, Illinois, is a prime location for investing in office properties, offering a unique blend of academic and professional opportunities. With the University of Illinois and Parkland College, the city attracts a diverse range of businesses, from startups to Fortune 500 companies, making it an attractive spot for office properties. Office properties in Champaign can represent a variety of investments, including single-tenant buildings, multi-tenant buildings, and even office condos. The city's strong educational institutions, infrastructure, and amenities, such as 60 parks, 11 trails, and 14 facilities for recreation, make it an ideal location for businesses to thrive. The presence of major companies like Caterpillar, ADM, John Deere, AbbVie, Motorola Solutions, and Jimmy John's further solidifies Champaign's reputation as a hub for innovation and commerce. With its central location and easy access to major highways like I-57, I-72, and I-74, Champaign is a great place for business and travel, offering attractions like the historic Virginia Theatre and the Krannert Art Museum.
With 4 office properties for sale in Champaign, investors have a range of options to choose from. The average price per square foot is $132 USD, and the average size is 10,214 square feet, with the largest property spanning 15,486 square feet. In addition to office properties, Champaign also offers a range of other commercial real estate options, including commercial buildings, apartment buildings, shopping centers, and hotels. The city's diverse economy, strong educational institutions, and modern infrastructure make it an attractive location for businesses of all types. Whether you're looking to invest in office properties or explore other commercial opportunities, Champaign has something to offer. From its rich cultural scene to its thriving business community, Champaign is a city that is sure to impress.
What is the average price per square foot for office properties in Champaign?
The average price per square foot for office properties in Champaign is $132 USD.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Champaign, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed investment decision.
- Class A office properties are typically high-rise buildings with modern amenities, prime locations, and high-quality finishes, attracting top-tier tenants and commanding the highest rental rates.
- Class B office properties offer functional space with standard amenities, often located in decent areas, and are suitable for a wide range of tenants, providing a balance between quality and affordability.
- Class C office properties are typically older buildings with limited amenities, located in less desirable areas, and may require renovation, making them more affordable but also presenting more risks.
