Commercial Real Estate Market in Cortland, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
71 active listings and 1,335 off-market properties in Cortland, IL. Commercial property asks $30/SF to buy and $19.00/SF/Yr to lease.
Market Trends
Cortland, IL spans 3.7 square miles in DeKalb County, Illinois. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Cortland, 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 Cortland, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Cortland, 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 Cortland, 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 52.2%
- Agricultural 20.7%
- Open space 10.7%
- Commercial 8.7%
- Industrial 7.6%
Largest Zones share of zoned land by district
Single Family Residence
Agricultural
Recreation And Open Space
High Density Single Family Residence
Light Industrial
Cortland, IL zones 2,276 acres across 10 districts. Commercial zoning covers 8.7% of zoned land, residential 52.2%, open space 10.7% and industrial 7.6%. The largest single district is Single Family Residence at 33.9%. For commercial buyers the practical constraint is that only 16.3% of land carries a commercial or industrial designation.
Single Family Residence (R-1)
R-1 single-family residence: This district provides for single-family residences on larger lots with lower densities and more open space. C. R-2 high density single-family residence: This district provides for single-family residences on small lots and was designated to reduce some of the development costs associated with subdivisions. D. R-3 two-family resi…
Market overview
Demographics & Economy
Cortland, IL has 4,560 residents in 1,691 households. Density runs 1,248 people per square mile. Median household income here is $79,506 and median gross rent $1,420 a month.
4,560
Population
1,691
Households
2.7
Avg Household Size
33
Median Age
31%
College-Educated
94%
High-School Grad
3.7 sq mi
ZIP Area
1,248
Density / Sq Mi
$79,506
Median Household Income
$43,125
Median Earnings
$1,420
Median Rent
$202,400
Median Home Value
Tools
Nearby Markets
Commercial property in Cortland, IL asks $30/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Cortland?
Commercial property in Cortland, IL asks an average of $30 per square foot.
How much does it cost to lease commercial space in Cortland?
Asking lease rates in Cortland, IL average $19.00 per square foot per year.
What zoning applies to commercial property in Cortland?
Cortland, IL zones 2,276 acres across 10 districts, of which 8.7% is commercial and 7.6% industrial. The largest single district is Single Family Residence at 33.9% of zoned land. R-1 single-family residence: This district provides for single-family residences on larger lots with lower densities and more open space. C. R-2 high density single-family residence: This district provides for single-family residences on small lots and was designated to reduce some of the development costs associated with subdivisions. D. R-3 two-family resi… Residential zoning covers 52.2% and open space 10.7%.
Where does Realmo's Cortland market data come from?
Realmo compiles Cortland, IL figures from 6 recent recorded sales, 51 active sale listings, 20 active lease listings, 1,335 tracked off-market properties, the current Cortland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 51 active for-sale and 20 active for-lease listings in Cortland, 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: 2,276 zoned acres across 10 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 30 September 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 30 September 2026 · report a data issue
