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New Market Commons 500 N Walnut St
1,782 - 16,513 SF of Space Available in Champaign, IL 61820
Highlights
- Property to be completely remodeled
- Flexible floor plans
- Downtown's newest development
- Plenty of off street parking
- Ultra modern design
Space Availability (6)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor, Ste 101 | 3,430 SF | Negotiable | $27.00 /SF/YR $2.25 /SF/MO $290.63 /m²/YR $24.22 /m²/MO $7,718 /MO $92,610 /YR | Modified Gross | ||
| 1st Floor, Ste 102 | 2,560 SF | Negotiable | $27.00 /SF/YR $2.25 /SF/MO $290.63 /m²/YR $24.22 /m²/MO $5,760 /MO $69,120 /YR | Modified Gross | ||
| 1st Floor, Ste 109 | 1,782 SF | Negotiable | $30.00 /SF/YR $2.50 /SF/MO $322.92 /m²/YR $26.91 /m²/MO $4,455 /MO $53,460 /YR | Full Service | ||
| 1st Floor, Ste 113 | 1,792 SF | Negotiable | $30.00 /SF/YR $2.50 /SF/MO $322.92 /m²/YR $26.91 /m²/MO $4,480 /MO $53,760 /YR | Full Service | ||
| 1st Floor, Ste 114 | 2,806 SF | Negotiable | $27.00 /SF/YR $2.25 /SF/MO $290.63 /m²/YR $24.22 /m²/MO $6,314 /MO $75,762 /YR | Full Service | ||
| 2nd Floor, Ste 201-202 | 4,143 SF | Negotiable | $20.00 /SF/YR $1.67 /SF/MO $215.28 /m²/YR $17.94 /m²/MO $6,905 /MO $82,860 /YR | Modified Gross |
1st Floor, Ste 101
- Listed rate may not include certain utilities, building services and property expenses
1st Floor, Ste 102
- Listed rate may not include certain utilities, building services and property expenses
1st Floor, Ste 109
- Rate includes utilities, building services and property expenses
- Fits 5 - 15 People
1st Floor, Ste 113
- Rate includes utilities, building services and property expenses
- Fits 5 - 15 People
1st Floor, Ste 114
- Rate includes utilities, building services and property expenses
2nd Floor, Ste 201-202
NEGOTIABLE Rent
- Listed rate may not include certain utilities, building services and property expenses
- Fits 11 - 34 People
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SITE PLAN
PROPERTY FACTS FOR 500 N Walnut St , Champaign, IL 61820
| Property Type | Retail | Gross Leasable Area | 38,540 SF |
| Property Subtype | Storefront Retail/Office | Year Built/Renovated | 1930/2019 |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Office |
| Gross Leasable Area | 38,540 SF |
| Year Built/Renovated | 1930/2019 |
About the Property
New Market Commons is Champaign’s newest re-purposed building project consisting of roughly 40,000 SF on 1.5 acre site at the northeast edge of the revitalized Downtown Champaign. Currently there are 6 tenant spaces available from 1,782 SF to 5,990 SF. See floor plan and price list for more information. Construction/renovation began in Spring 2018 and were completed by in fall 2018. Individual spaces to be delivered as per the following: Storefront per elevations, Finished demised space, Electrical and Lighting to code, Sealed concrete floor, 1 ADA restroom, and separate HVAC & Electrical. Ownership is willing to consider additional buildout for qualified tenants. Property is broker owned
Nearby Major Retailers
-
AJ Thoma III, CCIM, SIOR -
Coldwell Banker Commercial Devonshire Realty
Learn More About Leasing Retail Properties
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New Market Commons | 500 N Walnut St
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