Commercial Real Estate Market in Colona, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
16 active listings and 119 off-market properties in Colona, IL.
Market Trends
Colona, IL spans 19.1 square miles in Henry County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Colona, 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 Colona, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Colona, 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 Colona, 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 59%
- Commercial 16.8%
- Open space 10.5%
- Industrial 9%
Largest Zones share of zoned land by district
One Family Residence District
One Family Residence District
Highway Business District
Suburban Estates Low Density District
Conservation District
Colona, IL zones 2,442 acres across 16 districts. Commercial zoning covers 16.8% of zoned land, residential 59%, open space 10.5% and industrial 9%. The largest single district is One Family Residence District at 22.5%. For commercial buyers the practical constraint is that only 25.9% of land carries a commercial or industrial designation.
One Family Residence District (R-2)
This district is established in order to protect public health, and promote public safety, convenience, comfort, morals, prosperity, and welfare
Market overview
Demographics & Economy
Colona, IL has 6,841 residents in 2,947 households. Density runs 358 people per square mile. Median household income here is $78,611 and median gross rent $888 a month.
6,841
Population
2,947
Households
2.3
Avg Household Size
42
Median Age
18%
College-Educated
92%
High-School Grad
19.1 sq mi
ZIP Area
358
Density / Sq Mi
$78,611
Median Household Income
$47,556
Median Earnings
$888
Median Rent
$166,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Carbon Cliff | — | — |
| Barstow | — | — |
| Cleveland | — | — |
| Silvis | — | $11.67 |
Commercial property in Colona, IL asks $70,074/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Colona?
Commercial property in Colona, IL asks an average of $70,074 per square foot. The 3 most recent recorded sales traded at a median of $85/SF, so asking sits 81887% above the achieved median.
What zoning applies to commercial property in Colona?
Colona, IL zones 2,442 acres across 16 districts, of which 16.8% is commercial and 9% industrial. The largest single district is One Family Residence District at 22.5% of zoned land. This district is established in order to protect public health, and promote public safety, convenience, comfort, morals, prosperity, and welfare Residential zoning covers 59% and open space 10.5%.
Where does Realmo's Colona market data come from?
Realmo compiles Colona, IL figures from 5 recent recorded sales, 15 active sale listings, 1 active lease listings, 119 tracked off-market properties, the current Colona zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 15 active for-sale and 1 active for-lease listings in Colona, 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: 2,442 zoned acres across 16 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
