“The Urbana campus listing is a rare opportunity for both educational and institutional users as well as investors looking for a unique redevelopment opportunity,” said Rahm, Midwest regional manager for CBRE’s Public Institutions and Education Group. “The park-like setting and recent upgrades make it a turnkey purchase for institutional users or investors can repurpose the existing facilities for adaptive re-use including residential conversion, senior-living or off-site corporate training.”
Urbana University has new athletic facilities, a solar panel field, and surplus land. And in case a buyer was wondering how many rooms it has, well over 500 in its nine dormitories.
There is also a theatre and a racquetball court.
The university campus is also rich with history.
Urban University was founded in 1850 as a seminary by Rev. James Parke Stuart, Col. John James, Milo Williams and other members of the Swedenborgian Church and ”evolved into a vibrant liberal arts institution,” according to the university’s website.
The closure directly affected 350 students and 111 full-time employees, according to school officials at the time.
Champaign County officials were also bracing for the economic impact.
In August, Sara Neer, executive director of the Champaign County Chamber of Commerce, said they are telling business owners that “a plan is coming.”