Infill development at Research Park is desired to promote better use of land and more robust physical connections between Research Park and the University campus core.
The Research Park has identified specific parcels of land that are available for ground lease at locations encouraging Infill development and greater density. All three sites are zoned for commercial development and may include retail/amenity uses.
The following parameters apply:
- Development must be consistent with the Research Park Master Plan
- Development must follow City of Champaign zoning regulations
- Ground lease basic terms: 50-year ground lease, lease rate based on land MAI appraisal, 25-year renewal option.
- Building must follow the Declaration of Covenants, Conditions, Restrictions, Easements. This includes adhering to the Permitted Uses.
- Prevailing Wages are required for construction.
- Proposer must provide utilities to the project.
- Proposer must follow the City of Champaign planning process.
- UIRP has consent rights on all leases and subleases within buildings.
- UIRP has right of first opportunity to purchase all buildings
For more information
Contact Laura Appenzeller,
Executive Director at the University of Illinois Research Park
PARCEL 3
1801 S Oak St │ 1.243 acres
- Proximity to NCSA Petascale Computing Facility
- Proximity to iHotel and Illinois Conference Center
- Proximity to Atkins Building
PARCEL 206
1815 S. First St., Champaign │ 1.483 acres
- Proximity to State Farm Center
- Proximity to iHotel and Illinois Conference Center
- Prime visibility on First Street
PARCEL 212
1915 S Oak St │ 0.869 acres
- Proximity to EnterpriseWorks incubator
- Proximity to Childcare facility
