Acquisition Date: March 2022
803 West Anthony is a single-story retail outlot building (with drive thru) along North Prospect Avenue which is the busiest and highest barrier to entry corridor in the Champaign-Urbana metropolitan area. The property is a value-add opportunity that is ideally located at the North Prospect and Interstate-74 interchange. The asset is one of the only properties along North Prospect that offers a multi-tenant building with a drive-thru. 803 West Anthony is visible to over 50,000 vehicles per day along I-74 and 29,500 along Prospect. Opportunities to invest in North Prospect Avenue fronting real estate are extremely rare making this a sought-after property. Every national retailer is located in the surrounding area including Walmart, Sam’s Club, Target, Lowe’s, Home Depot and many more.
The market offers strong demographics with over 143,000 residents and over $70,000 in average household income within a five-mile radius of the location. The catalyst of the market and the largest employer in Champaign-Urbana is the University of Illinois Urbana-Champaign. The university enrolls over 55,000 students and employs over 7,800 administrative staff members with 17,000 employees in total. The research park at UIUC also features a robust technology and software research & development industry with companies such as Yahoo!, Dow Innovation, Abbott, Citrix, and State Farm. Champaign-Urbana is also home to Parkland Community College where there are over 11,000 annual students enrolled.