Champaign's Country Fair Shopping Center is for sale

Deb Pressey, The News-Gazette, Champaign-Urbana, Ill.
·2 min read

Oct. 29—CHAMPAIGN — For the first time in decades, the aging Country Fair Shopping Center in west Champaign is for sale, at a price listed as "negotiable."

It's the first time in more than 30 years the shopping center dating back to 1960 has been offered for sale, according to Coldwell Banker Commercial Devonshire Realty, which listed the 36-acre complex for sale last month.

Zach Wetherell, one of the two listing agents, said Country Fair's owner — GMS Management of Illinois — didn't want to list an asking price.

Serious prospective buyers can sign a nondisclosure agreement to obtain financial information about the properties, he said.

This won't likely be a quick sale, since prospective buyers can be expected to do a lot of due diligence, Wetherell said Friday.

So far, all inquiries have been from parties interested in keeping the property a shopping center, he said.

"We've had good interest from developers and shopping center owners all the way from the East Coast to the West Coast," he said.

Included in the sale are seven properties all considered to be part of Country Fair Shopping Center.

One of them is the main shopping center at 107-245 S. Mattis Ave.

Built in 1960, the shopping center lost one of its main tenants, a CVS store, earlier this month.

Other properties included in the sale are 2002-2004 W. Springfield Ave., 230-250 S. Country Fair Drive, 1910 W. Springfield Ave., 301 S. Mattis Ave., 101 S. Mattis Ave. and 1912 W. Springfield Ave.

Among the tenants at the main shopping center are Talecris Plasma Resources, Karen's Kloset, Dollar Tree, One-T's Corner Pocket, Sol Beauty Supply and Champaign Gymnastics. Some of the other properties are home to such tenants as Ruler Foods, Dollar General, Big Lots, a Thorntons gas station and a Chase Bank branch.

The properties include more than 300,000 square feet of retail space and 2,000 parking spots, and they generated a 2021 net operating income of $934,396, according to the listing.

There are also up to five potential outlots along Springfield and Mattis that could be sold or leased, according to the listing.

Meanwhile, Country Fair Shopping Center may have additional tenants on the way, according to Wetherell.

"We have several deals in the works right now," he said.

Trending Food Videos