Lincoln properties to remain vacant
Vacant properties along Lincoln Avenue will remain empty for an indefinite period.
Vance Barr, president of Barr Real Estate, said the two large, unoccupied properties near the corner of Lincoln Avenue and University Drive have received a spike in interest during the past few months.
The two properties are the former Walgreens building – next to County Market – and the former Wal-Mart – near the First Mid-Illinois Bank and Trust. Barr said larger spaces are difficult to rent, especially during a recession, because of maintenance costs associated with the size.
National chains also typically are interested in larger facilities, and those companies have cutback spending because of the recession, Barr said.
Despite this, he said restaurants and offices are the most recent industries to inquire about the two properties.
“It has been across the board,” Barr said.
He said the real estate agency has received five phone calls in the past months, which is encouraging for warehouse-type spaces.
The agency, Barr said, prefers to rent the spaces to retailers. He added they do not want to rent the space to an industry that would have adverse effects for the community.
“We certainly have our wish lists, but we are trying to see how that intersects with reality,” Barr said.
He said he could not anticipate when a deal could be finalized. Retailers are typically busier during the holiday season, he said, which would deter retailers from thinking about expansion.
Barr said he would be surprised if a deal was made by the end of the year. The agency, however, has not been passive about renting the property, he said. The agency has targeted certain industries and established contact with them, Barr said.
Both properties have been vacant for at least two years. During the past year, Charleston has seen a combination of businesses leave and develop in the area.
Recently, Boxa, which specialized in sandwiches and pizza, closed. Papa Murphy’s and Villa’s Pizzeria also closed its respective restaurants in Charleston during the end of the summer.
However, L.A. Tan has announced plans to develop a tanning salon and organic juice bar at the vacant Harrison’s Cycling and Fitness Building, 303 Lincoln Ave. Kahuna’s Grill, located across the street from Jimmy John’s, opened for business during summer’s end.
Stephen Di Benedetto can be reached at 581-7942 or sdibenedetto@eiu.edu.