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$252,500

  • Sold
  • Closed
  • Business
  • 1,396 Sq. Ft.
See This Home
Save This Home
See This Home
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This iconic tavern, the heart of the city's oldest neighborhood for 90 years, is now for sale. We've kept the original charm while adding modern amenities. The business is primed for growth with recent additions, including Illinois State Poker Machines, a new HVAC system, a new walk-in condenser and compressor, and new windows. A newly renovated apartment upstairs is also included, ideal for staff or as a live-in manager's unit. This is a rare opportunity to own and operate one of the oldest neighborhood taverns around.

Full Property Details for 703 N Prospect Ave

General

  • Sold For: $252,500
  • Taxes: $3,841 (2023)
  • Status: Closed
  • Type: Business
  • Source: MRED
  • MLS ID: 12480174
  • Added to Site: 186 day(s) ago

Business

  • Business Type: Bar/Tavern/Lounge
  • Years in Business: 7 to 10 Ye
  • Seating Capacity: 41 to 50

Location

  • Area: Champaign, Savoy
  • County: Champaign
  • Driving Directions: Prospect Ave south to 703
  • Location Details: Mixed-Use Area

Heating & Cooling

  • Cooling Type: Central Air Conditioning
  • Heating Type: Electric, Forced Air, Gas

Utilities

  • Onsite: Electricity to Site

Structural Information

  • Stories/Levels: 2
  • Square Feet: 1,396

Lot Features

  • Lot Size (Sq. Ft.): 8,420
  • Lot Size Range: Less than .25 Acre
  • Lot Dimensions: 105 x 82
  • Potential Use: Commercial, Liquor License
  • Zoning: COMMR

Financial Considerations

  • For Sale/Rent/Lease: For Sale Only
  • Tax Amount: $3,841
  • Tax Year: 2023

Disclosures and Reports

  • Property ID: 412011282011

Listed by Keller Williams-Trec
Sold by The Real Estate Group,Inc

Listing agent

— 703 N Prospect Ave —

  • Keller Williams-Trec

(217) 356-6100

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 703 N Prospect Ave

School District:Champaign Community Unit School District 4
NameGradesDistance
Central High School, Champaign, IL
610 West University Avenue, Champaign, IL 61820
9-120.5 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 703 N Prospect Ave

Date
Details
Price
Change
Source
12/03/2025
Sold
$252,500
-8.18%
MLS
9/25/2025
Listed
$275,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Keller Williams-Trec
Sold by The Real Estate Group,Inc

703 N Prospect Avenue, Champaign, IL 61820 (MLS# 12480174) is a Business property that was sold at $252,500 on December 03, 2025. Want to learn more about 703 N Prospect Avenue? Do you have questions about finding other Business real estate for sale in Champaign? You can browse all Champaign real estate or contact a Coldwell Banker agent to request more information.