Commercial Real Estate Market in Elmwood, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
13 active listings and 94 off-market properties in Elmwood, IL.
Market Trends
Elmwood, IL spans 64.5 square miles in Peoria County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Elmwood, 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 Elmwood, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Elmwood, 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 Elmwood, 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 81.9%
- Agricultural 13.3%
- Industrial 3.2%
- Commercial 1.6%
Largest Zones share of zoned land by district
Residential 2
Residential 1
Agricultural
Rural Residential
Industrial 2
Elmwood, IL zones 879 acres across 9 districts. Commercial zoning covers 1.6% of zoned land, residential 81.9% and industrial 3.2%. The largest single district is Residential 2 at 53.1%. For commercial buyers the practical constraint is that only 4.8% of land carries a commercial or industrial designation.
Residential 1 (R-1)
R-1 Low Density Residential R-1 Low Density Residential R-2 Medium Density Residential R-2 Medium Density Residential R-3 High Density Residential R-3 High Density Residential C-1 Neighborhood Commercial C-1 Neighborhood Commercial C-2 General Commercial C-2 General Commercial I-1 Light Industrial I-1 Light Industrial I-2 Heavy Industrial I-2 Heavy Industria…
Market overview
Demographics & Economy
Elmwood, IL has 2,852 residents in 1,158 households. Density runs 44 people per square mile. Median household income here is $89,503 and median gross rent $772 a month.
2,852
Population
1,158
Households
2.5
Avg Household Size
42
Median Age
36%
College-Educated
96%
High-School Grad
64.5 sq mi
ZIP Area
44
Density / Sq Mi
$89,503
Median Household Income
$47,281
Median Earnings
$772
Median Rent
$155,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Yates City | — | — |
| Farmington | — | — |
| Brimfield | — | — |
| Trivoli | — | — |
Commercial property in Elmwood, IL asks $7,769/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Elmwood?
Commercial property in Elmwood, IL asks an average of $7,769 per square foot.
What zoning applies to commercial property in Elmwood?
Elmwood, IL zones 879 acres across 9 districts, of which 1.6% is commercial and 3.2% industrial. The largest single district is Residential 2 at 53.1% of zoned land. Residential zoning covers 81.9% and open space 0%.
Where does Realmo's Elmwood market data come from?
Realmo compiles Elmwood, IL figures from 3 recent recorded sales, 13 active sale listings, 94 tracked off-market properties, the current Elmwood zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 13 active for-sale and 0 active for-lease listings in Elmwood, 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: 879 zoned acres across 9 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
