Champaign, Illinois, is a hub for restaurants, with 5 listings available for sale. As a prime location, Champaign offers a unique blend of academic and professional opportunities, making it an attractive spot for restaurateurs. Restaurants in Champaign can cater to the diverse population of around 80,000 residents, including students, faculty, and staff from the University of Illinois and Parkland College. The city's infrastructure, including 60 parks, 11 trails, and 14 facilities for recreation, provides an ideal setting for restaurants to thrive. Additionally, Champaign's location near major highways like I-57, I-72, and I-74 makes it easily accessible to surrounding areas. The presence of notable companies like Caterpillar, ADM, John Deere, and Jimmy John's further solidifies Champaign's reputation as a hub for food and entertainment. With its rich cultural scene, including the historic Virginia Theatre and the Krannert Art Museum, Champaign offers a unique atmosphere that restaurants can leverage to attract customers.
Champaign's restaurant scene is complemented by its diverse economy, which includes technology and software development, industrial manufacturing, and the information sector. The city's amenities, such as the Research Park, which houses companies like Caterpillar, ADM, and State Farm Research and Development Center, create a dynamic environment for restaurants to operate. In addition to restaurants, Champaign also offers a range of other property types for sale, including Apartment Buildings, which can provide a steady stream of customers for nearby eateries; Shopping Centers, which can offer a convenient location for restaurants; Specialty Properties, which can cater to specific cuisines or dining experiences; and Hotels, which can provide accommodations for visitors and locals alike. With its unique blend of academic, professional, and cultural opportunities, Champaign is an attractive location for restaurateurs looking to establish a successful business.
What is the average cost per square foot for a restaurant in Champaign?
For those interested in purchasing a restaurant in Champaign, the average cost per square foot is $1,049 USD per square feet, with an average size of 21,525 square feet and a largest size of 93,492 square feet among the 5 available listings.
What factors determine the value of a restaurant for sale in Champaign?
When evaluating the value of a restaurant for sale in Champaign, several key factors come into play, including:
- Location, with proximity to the University of Illinois and Campustown being highly desirable, as well as accessibility to major highways like I-57, I-72, and I-74;
- Size and layout, with an average size of 21,525 square feet and a maximum size of 93,492 square feet, affecting the restaurant's capacity and operational efficiency;
- Financial performance, including the average price per square foot of $1,049 USD and an average cap rate of 6.5%, which impact the restaurant's profitability and return on investment.
