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Well-positioned two-story office property offering an excellent opportunity for an investor or owner-user. Originally constructed in 1971, the building currently operates as a multi-tenant executive/co-working office center with approximately 32 individual office suites, providing an established source of rental income and significant upside potential. The building offers a functional layout on both levels, with numerous private office spaces, restrooms, and an inviting lobby and reception area. Ample on-site parking is available along the west and north sides of the property, providing convenient access for both tenants and their clients. A number of improvements have been completed over the years, including replacement of HVAC compressors, installation of security fencing, a newer roof, lobby updates, enhanced hallway lighting, new carpeting, and fresh interior paint. These updates provide a solid foundation for continued operation while allowing a new owner to further enhance the property. The Bloomington Road location offers convenient access to Interstate 74 via both Prospect Avenue and Neil Street, providing easy connectivity for employees, tenants, customers, and clients. One of the property's most attractive features is its potential for increased Net Operating Income (NOI). Current rents are $6,005 a month, but Current occupancy is approximately 61 percent, leaving considerable room to add additional tenants. In addition, a number of existing leases are currently below prevailing market rental rates, creating an opportunity to increase revenue as leases renew. Most leases are structured on a one-year basis, while the property also benefits from a number of established, long-term tenants. The property provides multiple avenues for a new owner, including continuing the existing executive office/co-working model, repositioning the property to maximize rental income, occupying the building for an owner-user operation, or exploring the potential for a single-tenant lease. Contact the listing agent for additional information, including the current rent roll and historical financial information.

Highlights

  • Commercial Sale
  • Office
  • Built in 1971
  • 0.56 Acre Lot
  • 61 days on Market

  • Year Built
    1971
  • Stories
    2.0
  • Construction Materials
    Block
  • Cooling
    Central Air

  • Acres
    0.56


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Frequently Asked Questions

How do I schedule a tour of 702 Bloomington Rd?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 702 Bloomington Rd.

They know commercial sales in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 702 Bloomington Rd?

Click Ask a Question to talk with our team. You already know it is a N/A bed, N/A bath, listed for $575,000. We can talk through recent upgrades, potential seller motivation, how this office compares to others in Champaign, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 702 Bloomington Rd?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 702 Bloomington Rd at around $4,110. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 702 Bloomington Rd?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Champaign County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 702 Bloomington Rd?

In most cases, yes. Whether 702 Bloomington Rd is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Champaign's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 702 Bloomington Rd?

We can handle that for you. Our preferred local agent specializes in commercial sales in Champaign and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $575,000 with 7,572 sqft of space—that comes out to approximately $76 per square foot.

How long has this property been on the market?

702 Bloomington Rd was listed on September 10, 2026, which means it's been on the market for 61 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

When was this house built?

This home was built in 1971, making it approximately 55 years old.

What is the lot size of this property?

702 Bloomington Rd sits on a 0.56-acre lot, which is 24,394 square feet.

What are the property taxes for 702 Bloomington Rd?

The most recent public record shows annual property taxes for 702 Bloomington Rd were approximately $10,055. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.

Is 702 Bloomington Rd still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

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Listing information provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS. Copyright 2026, Midwest Real Estate Data (MRED). All rights reserved.

Last Updated: November 10, 2026 at 04:34PM | Source: Midwest Real Estate Data (MRED) | MLS#: 12752854