Commercial Real Estate Market in Champaign, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
199 active listings and 2,315 off-market properties in Champaign, IL. Commercial property asks $389/SF to buy and $25.70/SF/Yr to lease.
Market Trends
Champaign, IL spans 120.8 square miles in Champaign County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Champaign, 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 Champaign, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Champaign, 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 Champaign, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 56.6%
- Commercial 13.7%
- Industrial 13.1%
- Civic 10.1%
- Mixed use 6.5%
Largest Zones share of zoned land by district
Single Family
General Commercial
Light Industrial
Low Density Multifamily
Commercial Office
Champaign, IL zones 11,745 acres across 22 districts. Commercial zoning covers 13.7% of zoned land, residential 56.6% and industrial 13.1%. The largest single district is Single Family at 41.4%. For commercial buyers the practical constraint is that only 26.8% of land carries a commercial or industrial designation.
Single Family (SF1)
The primary purpose for the SF1 District is to provide for detached single-family dwellings with related uses for recreational, religious, or cultural activities.
Market overview
Demographics & Economy
Champaign, IL has 94,970 residents in 44,346 households. Density runs 786 people per square mile. Median household income here is $60,175 and median gross rent $1,103 a month.
94,970
Population
44,346
Households
2.1
Avg Household Size
29
Median Age
54%
College-Educated
94%
High-School Grad
120.8 sq mi
ZIP Area
786
Density / Sq Mi
$60,175
Median Household Income
$33,314
Median Earnings
$1,103
Median Rent
$198,998
Median Home Value
Tools
Lease vs Buy Breakeven
At $25.70/SF/Yr lease vs $389/SF buy → buying wins if held > 3.8 years.
At a 6.6% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Urbana | — | — |
| Savoy | — | — |
| Bondville | — | — |
| Philo | — | — |
Commercial property in Champaign, IL asks $389/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Champaign?
Commercial property in Champaign, IL asks an average of $389 per square foot.
How much does it cost to lease commercial space in Champaign?
Asking lease rates in Champaign, IL average $25.70 per square foot per year.
Is it cheaper to lease or buy commercial space in Champaign?
Buying beats leasing in Champaign, IL if the property is held longer than 3.8 years, comparing $25.70/SF/Yr asking rent with $389/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Champaign?
Champaign, IL zones 11,745 acres across 22 districts, of which 13.7% is commercial and 13.1% industrial. The largest single district is Single Family at 41.4% of zoned land. The primary purpose for the SF1 District is to provide for detached single-family dwellings with related uses for recreational, religious, or cultural activities. Residential zoning covers 56.6% and open space 0%.
Where does Realmo's Champaign market data come from?
Realmo compiles Champaign, IL figures from 6 recent recorded sales, 116 active sale listings, 83 active lease listings, 2,315 tracked off-market properties, the current Champaign zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 116 active for-sale and 83 active for-lease listings in Champaign, 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.
- Zoning and land use
- The current municipal zoning release: 11,745 zoned acres across 22 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- 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
