Commercial Real Estate Market in Galena, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
192 active listings and 460 off-market properties in Galena, IL. Commercial property asks $556/SF to buy and $15.40/SF/Yr to lease.
Market Trends
Galena, IL spans 95.8 square miles in Jo Daviess County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Galena, 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 Galena, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Galena, 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 68.2%
- Civic 15.8%
- Commercial 10.8%
- Industrial 4.1%
Largest Zones share of zoned land by district
Limited Agriculture
Low Density Residential
Medium Density Residential
Planned Commercial
General Commercial
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.
Limited Agriculture (LA)
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.
7,111
Population
5,187
Households
1.4
Avg Household Size
54
Median Age
46%
College-Educated
97%
High-School Grad
95.8 sq mi
ZIP Area
74
Density / Sq Mi
$80,574
Median Household Income
$51,507
Median Earnings
$758
Median Rent
$258,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Saint Donatus | — | — |
| Menominee | — | — |
| Massey | — | — |
| Hazel Green | — | — |
Commercial property in Galena, IL asks $556/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Galena?
Commercial property in Galena, IL asks an average of $556 per square foot.
How much does it cost to lease commercial space in Galena?
Asking lease rates in Galena, IL average $15.40 per square foot per year.
What zoning applies to commercial property in Galena?
Galena, IL zones 2,949 acres across 12 districts, of which 10.8% is commercial and 4.1% industrial. The largest single district is Limited Agriculture at 48.6% of zoned land. 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… Residential zoning covers 68.2% and open space 0%.
Where does Realmo's Galena market data come from?
Realmo compiles Galena, IL figures from 186 active sale listings, 6 active lease listings, 460 tracked off-market properties, the current Galena zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 186 active for-sale and 6 active for-lease listings in Galena, 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: 2,949 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 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
