1. 136 W. Main Street, Urbana IL The “Cohen Building”

2. Background / History
I am a Mechanical Engineer & I run an emergency management company. I have a few side-business, to include real estate
136 W Main (the Cohen building) is my first time purchase of a commercial property – purchased in July 2016
Designed by a noted architect in 1907 for Nat Cohen (Nat’s cigar factory, Urbana Banking Co., Barber shop, Urbana Candy Kitchen)
The plan when purchasing building was to market the building to a specific local farm to table restaurant group
We worked with them for about 8 months, but it ultimately fell through

3. Building & Downtown Attributes
Key historic building in downtown Urbana
Excellent location, building in great shape
Renovation needed for next use
$500k - $3M depending on next use
Downtown Urbana
Up and coming culinary scene
Economic progress is under development
Limited parking
Excessive office space in near future
No operating hotels

4. Other Tidbits A 18kW rooftop PV solar system was installed in Nov 2017
Applied for and was awarded a $500k TIF grant for renovation
A 20% tax credit is available if renovation done within historic guidelines
Significant tax advantages if the 1st use of 51% of the building operates as a restaurant
City of Urbana is very supportive of project

5. Where we are at today Began limited demolition in Dec 2017
Partial activation of the space - moved my consulting business into the building on 2nd floor
Upcoming events scheduled that will showcase the building

6. Next use? www.136mainstreet.com First floor/basement Restaurant / Deli
Speakeasy
Coffee shop
Retail
Office space
Second floor
Banquet space
Apartments/Condos
Boutique hotel /Airbnb units