Commercial Real Estate Market in Danville, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
78 active listings and 1,774 off-market properties in Danville, IL.
Market Trends
Danville, IL spans 135.7 square miles in Vermilion County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Danville, 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 Danville, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Danville, 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 Danville, 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
- Agricultural 53.2%
- Residential 27.2%
- Industrial 15.2%
- Commercial 4.5%
Largest Zones share of zoned land by district
Agriculture
Rural Residential
Single Family Residential Medium Density
Light Industrial
General Industrial
Market overview
Demographics & Economy
Danville, IL has 42,741 residents in 20,154 households. Density runs 315 people per square mile. Median household income here is $51,942 and median gross rent $815 a month.
42,741
Population
20,154
Households
2.1
Avg Household Size
41
Median Age
17%
College-Educated
89%
High-School Grad
135.7 sq mi
ZIP Area
315
Density / Sq Mi
$51,942
Median Household Income
$38,317
Median Earnings
$815
Median Rent
$93,469
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Tilton | — | — |
| Hegeler | — | — |
| Belgium | — | — |
| Catlin | — | — |
Commercial property in Danville, IL asks $24/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Danville?
Commercial property in Danville, IL asks an average of $24 per square foot.
Where does Realmo's Danville market data come from?
Realmo compiles Danville, IL figures from 7 recent recorded sales, 64 active sale listings, 14 active lease listings, 1,774 tracked off-market properties, the current Danville zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 64 active for-sale and 14 active for-lease listings in Danville, 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: 37,167 zoned acres across 14 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
