Commercial Real Estate Market in Kewanee, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 583 off-market properties in Kewanee, IL.
Market Trends
Kewanee, IL spans 100.5 square miles in Henry County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Kewanee, 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 Kewanee, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Kewanee, 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 Kewanee, 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 64.8%
- Industrial 15%
- Civic 11.7%
- Commercial 8.6%
Largest Zones share of zoned land by district
One Family Dwelling District
One Family Dwelling District
Manufacturing District General
Public Buildings Schools Parks And Open Spaces
Business Services And Wholesale District
Kewanee, IL zones 4,174 acres across 12 districts. Commercial zoning covers 8.6% of zoned land, residential 64.8% and industrial 15%. The largest single district is One Family Dwelling District at 28.4%. For commercial buyers the practical constraint is that only 23.5% of land carries a commercial or industrial designation.
One Family Dwelling District (R-1)
Reserved) 155.044 Buildings on a zoning lot 155.045 Rezoning of public and semi-public areas 155.046 Vision clearance on corner lots 155.047 Satellite dishes 155.048 Smoke detection devices District Requirements 155.060 R-1 One-Family Dwelling District 155.061 R-2 One-Family Dwelling District 155.062 R-3 One-Family Dwelling District 155.063 R-4 Two-Family Dw…
Market overview
Demographics & Economy
Kewanee, IL has 13,780 residents in 6,613 households. Density runs 137 people per square mile. Median household income here is $51,306 and median gross rent $782 a month.
13,780
Population
6,613
Households
2.1
Avg Household Size
41
Median Age
16%
College-Educated
85%
High-School Grad
100.5 sq mi
ZIP Area
137
Density / Sq Mi
$51,306
Median Household Income
$36,553
Median Earnings
$782
Median Rent
$75,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Neponset | — | — |
| Galva | — | — |
| La Fayette | — | — |
| Elmira | — | — |
Commercial property in Kewanee, IL asks $124/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Kewanee?
Commercial property in Kewanee, IL asks an average of $124 per square foot. The 3 most recent recorded sales traded at a median of $17/SF, so asking sits 641% above the achieved median.
What zoning applies to commercial property in Kewanee?
Kewanee, IL zones 4,174 acres across 12 districts, of which 8.6% is commercial and 15% industrial. The largest single district is One Family Dwelling District at 28.4% of zoned land. Residential zoning covers 64.8% and open space 0%.
Where does Realmo's Kewanee market data come from?
Realmo compiles Kewanee, IL figures from 7 recent recorded sales, 2 active sale listings, 1 active lease listings, 583 tracked off-market properties, the current Kewanee zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2 active for-sale and 1 active for-lease listings in Kewanee, 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: 4,174 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, 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
