Commercial Real Estate Market in Granville, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 125 off-market properties in Granville, IL.
Market Trends
Granville, IL spans 47.9 square miles in Putnam County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Granville, 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 Granville, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Granville, 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 Granville, 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 58.2%
- Agricultural 17.7%
- Commercial 10.7%
- Industrial 2.5%
Largest Zones share of zoned land by district
Two Family Residential District
Single Family Residential District
Agricultural District
No Zoning
Commercial District
Granville, IL zones 832 acres across 6 districts. Commercial zoning covers 10.7% of zoned land, residential 58.2% and industrial 2.5%. The largest single district is Two Family Residential District at 32.6%. For commercial buyers the practical constraint is that only 13.2% of land carries a commercial or industrial designation.
Two Family Residential District (R-3)
Any use permitted in the R-3 Two-Family Residence District. (2) Multiple dwelling. (3) Rooming house or boardinghouse. (4) Institutions of a religious, educational, eleemosynary or philanthropic nature, but not a penal or mental institution. (5) Hospital or sanatorium, except a criminal, mental or animal hospital. (6) Nursing or convalescent home. (7) Privat…
Market overview
Demographics & Economy
Granville, IL has 2,103 residents in 981 households. Density runs 44 people per square mile. Median household income here is $71,071 and median gross rent $778 a month.
2,103
Population
981
Households
2.1
Avg Household Size
44
Median Age
23%
College-Educated
93%
High-School Grad
47.9 sq mi
ZIP Area
44
Density / Sq Mi
$71,071
Median Household Income
$43,063
Median Earnings
$778
Median Rent
$137,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mark | — | — |
| Standard | — | — |
| Florid | — | — |
| Spring Valley | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Granville?
Granville, IL zones 832 acres across 6 districts, of which 10.7% is commercial and 2.5% industrial. The largest single district is Two Family Residential District at 32.6% of zoned land. Any use permitted in the R-3 Two-Family Residence District. (2) Multiple dwelling. (3) Rooming house or boardinghouse. (4) Institutions of a religious, educational, eleemosynary or philanthropic nature, but not a penal or mental institution. (5) Hospital or sanatorium, except a criminal, mental or animal hospital. (6) Nursing or convalescent home. (7) Privat… Residential zoning covers 58.2% and open space 0%.
Where does Realmo's Granville market data come from?
Realmo compiles Granville, IL figures from 1 active sale listings, 125 tracked off-market properties, the current Granville zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1 active for-sale and 0 active for-lease listings in Granville, 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: 832 zoned acres across 6 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
