Commercial Real Estate Market in Granite City, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
106 active listings and 1,530 off-market properties in Granite City, IL. Commercial property asks $17/SF to buy and $18.93/SF/Yr to lease.
Market Trends
Granite City, IL spans 39.9 square miles in Madison County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Granite City, 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 Granite City, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Granite City, 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 space in Granite City, IL asks $60/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Granite City, IL has 40,872 residents in 18,842 households. Density runs 1,025 people per square mile. Median household income here is $60,558 and median gross rent $852 a month.
40,872
Population
18,842
Households
2.2
Avg Household Size
41
Median Age
16%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
1,025
Density / Sq Mi
$60,558
Median Household Income
$40,963
Median Earnings
$852
Median Rent
$106,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Glasgow Village | $100 (county avg) | — |
| Riverview | $100 (county avg) | — |
| Bellefontaine Neighbors | $100 (county avg) | — |
Commercial property in Granite City, IL asks $17/SF. The 3 bordering markets run from $100/SF in Glasgow Village to $100/SF in Glasgow Village, and the city sits below their $100/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Granite City?
Commercial property in Granite City, IL asks an average of $17 per square foot. The 6 most recent recorded sales traded at a median of $106/SF. Multifamily carries the highest asking price at $60/SF.
How much does it cost to lease commercial space in Granite City?
Asking lease rates in Granite City, IL average $18.93 per square foot per year.
How does Granite City compare to nearby markets on price?
Granite City, IL asks $17/SF against $100/SF in Glasgow Village, $100/SF in Riverview and $100/SF in Bellefontaine Neighbors.
Where does Realmo's Granite City market data come from?
Realmo compiles Granite City, IL figures from 6 recent recorded sales, 76 active sale listings, 30 active lease listings, 1,530 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 76 active for-sale and 30 active for-lease listings in Granite City, 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.
- 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
