Commercial Real Estate Market in Diamond, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
8 active listings and 59 off-market properties in Diamond, IL.
Market Trends
Diamond, IL spans 22.8 square miles in Grundy County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Diamond, 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 Diamond, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Diamond, 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 Diamond, 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 56.2%
- Commercial 25.6%
- Industrial 15.8%
- Agricultural 2.5%
Largest Zones share of zoned land by district
One Family Residence District
Service Business District
Limited Industrial District
Townhome Family Residence District
Multifamily Residence District
Diamond, IL zones 1,124 acres across 8 districts. Commercial zoning covers 25.6% of zoned land, residential 56.2% and industrial 15.8%. The largest single district is One Family Residence District at 38.5%. For commercial buyers the practical constraint is that only 41.3% of land carries a commercial or industrial designation.
Multifamily Residence District (R4)
The intent of this zone is to promote Multi-Family Residence
Market overview
Demographics & Economy
Diamond, IL has 9,512 residents in 3,803 households. Density runs 417 people per square mile. Median household income here is $71,865 and median gross rent $1,074 a month.
9,512
Population
3,803
Households
2.5
Avg Household Size
38
Median Age
20%
College-Educated
93%
High-School Grad
22.8 sq mi
ZIP Area
417
Density / Sq Mi
$71,865
Median Household Income
$47,609
Median Earnings
$1,074
Median Rent
$222,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Coal City | — | — |
| Carbon Hill | — | — |
| Braidwood | — | — |
| Godley | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Diamond?
Diamond, IL zones 1,124 acres across 8 districts, of which 25.6% is commercial and 15.8% industrial. The largest single district is One Family Residence District at 38.5% of zoned land. Residential zoning covers 56.2% and open space 0%.
Where does Realmo's Diamond market data come from?
Realmo compiles Diamond, IL figures from 6 recent recorded sales, 7 active sale listings, 1 active lease listings, 59 tracked off-market properties, the current Diamond zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 1 active for-lease listings in Diamond, 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: 1,124 zoned acres across 8 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
