Commercial Real Estate Market in Groveland, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
5 active listings and 40 off-market properties in Groveland, IL.
Market Trends
Groveland, IL spans 7.4 square miles in Tazewell County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Groveland, 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 Groveland, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Groveland, 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 Groveland, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Groveland, IL has 1,748 residents in 666 households. Density runs 235 people per square mile. Median household income here is $138,594.
1,748
Population
666
Households
2.6
Avg Household Size
44
Median Age
36%
College-Educated
90%
High-School Grad
7.4 sq mi
ZIP Area
235
Density / Sq Mi
$138,594
Median Household Income
$64,654
Median Earnings
$0
Median Rent
$222,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Northern Oaks | — | — |
| Morton | — | — |
| Tremont | — | — |
| Marquette Heights | — | — |
Commercial property in Groveland, IL asks $290/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Groveland?
Commercial property in Groveland, IL asks an average of $290 per square foot. The 3 most recent recorded sales traded at a median of $134/SF, so asking sits 116% above the achieved median.
Where does Realmo's Groveland market data come from?
Realmo compiles Groveland, IL figures from 4 recent recorded sales, 5 active sale listings, 40 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 5 active for-sale and 0 active for-lease listings in Groveland, 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
