Commercial Real Estate Market in Andover, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 13 off-market properties in Andover, IL.
Market Trends
Andover, IL spans 0.7 square miles in Henry County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Andover, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Andover, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Andover, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Andover, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Andover, IL has 391 residents in 107 households. Density runs 543 people per square mile. Median household income here is $66,146 and median gross rent $843 a month.
391
Population
107
Households
3.7
Avg Household Size
41
Median Age
13%
College-Educated
97%
High-School Grad
0.7 sq mi
ZIP Area
543
Density / Sq Mi
$66,146
Median Household Income
$58,125
Median Earnings
$843
Median Rent
$172,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lynn Center | — | — |
| Osco | — | — |
| Cambridge | — | — |
| Ophiem | — | — |
Commercial property in Andover, IL asks $146/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Andover?
Commercial property in Andover, IL asks an average of $146 per square foot.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 0 active for-lease listings in Andover, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
