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The Krannert Center for Performing Arts plays host to Nobel Prize winners, Olympians, world-renowned entrepreneurs, and a long line of distinguished artists, designers, architects, and scientists. This is a pretty interesting building centrally located on the main University of Illinois campus, with lots of outdoor spaces and hiding spots!
Once you arrive at the posted coordinates, look for an outdoor space where you might catch a theatrical performance. Go to the natural center of that space and use it like a compass: take a bearing of 61° and proceed 341 feet to the final cache location. There are multiple routes of travel around this multi-tiered structure! You should find a secret area where you can look for the cache in seclusion.
EDIT: Congratulations to eohlsson for the FTF!
Or fher gb purpx gur pbearef.