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  1. Retail Space
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  3. Champaign
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For Lease

500 N Walnut St

500 N Walnut St, Champaign, IL 61820

38,540

SF Available
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.

Rental Details

  • Number of spaces 1
  • Total square feet available 38,540 SF
  • For Lease $20.00 - $30.00/SF/YR
  • Space Types Retail
  • Lease Type Modified Gross
  • Date Updated May 20, 2026
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

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For Lease 1 Space Available

Space Available

  • Space Type Retail
  • Lease Rate $20.00 - $30.00/SF/YR
  • Total Space Available 38,540 SF
  • Divisible Space 1,782 - 5,990 SF
  • Lease Type Modified Gross
  • Sublease No
  • Build Type Full build out
broker
AJ Thoma III

Coldwell Banker Commercial Devonshire Realty

Contacts

broker
AJ Thoma III

Coldwell Banker Commercial Devonshire Realty

Building Details

  • For Lease $20.00 - $30.00/SF/YR
  • Property Type Retail
  • Date Updated May 20, 2026

Getting Around

  • Walk Score ®

    Very Walkable (84)
  • Transit Score ®

    Good Transit (58)
  • Bike Score ®

    Very Bikeable (77)
Powered by Walk Score ®

Location

  • City Champaign, IL
  • Neighborhood Downtown Champaign
  • Zip Code 61820
  • Map
  • Street

Points of Interest

QuikTrip

0.85 miles

ChargePoint

0.93 miles

Shell

1.12 miles

Mobil

1.22 miles

Phillips 66

1.31 miles

Tesla Supercharger

2.06 miles

Main and Market

0.16 miles

North First Street Lot

0.19 miles

Laura Apartments Parking

0.62 miles

Whitehall Apartments Garage

0.63 miles

Outpatient Dialysis Visitor Parking

0.67 miles

Campus Center

0.82 miles

A21

0.82 miles

Parkette 151

0.82 miles

A3

0.87 miles

AM-KO Oriental Foods and Gifts

0.57 miles

County Market

0.61 miles

World Harvest Foods

0.62 miles

Target

0.90 miles

Asian Supermarket

1.09 miles

TJ Maxx

1.21 miles

Kohl's

1.27 miles

Gordmans

1.38 miles

Macy's

1.46 miles

500 N Walnut St Listing Summary

  • The Price for Retail Space at 500 N Walnut St

    The cost of renting retail space in a property highly depends on features such as its location, parking availability and type of retail space, or advantages and features that might be unique to it. When it comes to 500 N Walnut St, asking rent starts at $$20.00/SF/YR per square foot.

    500 N Walnut St is located in the Downtown Champaign neighborhood, which is home to a total of 2 retail listing(s). In the case of most businesses that need retail space, access to potential customers is critical. This can come in the form of retail space situated in high-traffic pedestrian areas, or convenient suburban locations with good public transport or plenty of parking. Reach out to the listing broker for information on best parking and other access options at or near the property.

  • Retail Space Options Available at 500 N Walnut St

    The property exclusively contains Retail space totaling 38,540 square feet. The leasing opportunity here is available under Modified Gross lease terms.

    In addition to retail space type, you will also need to consider the space size that you need for your business to operate at its best. The property includes 1 large retail space(s) of more than 10,000 square feet, which is typically a good choice for businesses that need lots of showroom space or the flexibility to set up specialized operations. For more information or to schedule a tour of the property, reach out using the contact form on this page to get in touch with a broker.

  • Get to Know the Retail Scene in the Downtown Champaign Neighborhood

    500 N Walnut St is located in the Downtown Champaign neighborhood of Champaign. The Downtown Champaign retail market offers 2 retail listing(s), representing a total of 38,545 square feet of retail space for lease.

    When looking for retail space for your company, picking the right area is essential. Some neighborhoods have a long history of being top shopping destinations in general, while others gain a reputation for strongly representing a specific type of business. In addition to knowing the reputation of your chosen business location neighborhood, it’s also important to know your customer base. For instance, the average Downtown Champaign resident is 22 years old, and the median household income here is $27,539 per year.

Contact Listing Broker
broker
AJ Thoma III

Coldwell Banker Commercial Devonshire Realty

  1. 1Main information
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