Commercial Real Estate Market in Galena, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
16 active listings and 459 off-market properties in Galena, IL. Commercial property asks $148/SF to buy (based on 6 listings) and $15.00/SF/Yr to lease (based on 5 listings).
Market Trends
Galena, IL spans 95.8 square miles in Jo Daviess County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Galena, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Galena, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Galena, 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%.
Multifamily
Multifamily vacancy in Galena, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 68.2%
- Civic 15.8%
- Commercial 10.8%
- Industrial 4.1%
Largest Zones share of zoned land by district
Galena, IL zones 2,949 acres across 12 districts. Commercial zoning covers 10.8% of zoned land, residential 68.2% and industrial 4.1%. The largest single district is Limited Agriculture at 48.6%. For commercial buyers the practical constraint is that only 14.8% of land carries a commercial or industrial designation.
In the Limited Agriculture (LA), Countryside Residential (CSR), and Neighborhood Office (NO), Low Density Residential (LDR) and Medium Density Residential (MDR) Districts, a studio shall be used by no more than three artists or artisans. (4) Sales and service, indoor. Indoor sales and service land uses include all land uses which conduct or display sales or…
Market overview
Demographics & Economy
Galena, IL has 7,111 residents in 5,187 households. Density runs 74 people per square mile. Median household income here is $80,574 and median gross rent $758 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Galena?
How much does it cost to lease commercial space in Galena?
What zoning applies to commercial property in Galena?
Where does Realmo's Galena market data come from?
Methodology & data sources
- Asking prices and medians
- There are 10 active for-sale and 6 active for-lease listings in Galena, IL. The medians are based on 6 of the for-sale and 5 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 2,949 zoned acres across 12 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
