Commercial Real Estate Market in Lanark, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
78 active listings and 106 off-market properties in Lanark, IL.
Market Trends
Lanark, IL spans 84.0 square miles in Carroll County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lanark, 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 Lanark, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lanark, 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 Lanark, 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 64.7%
- Industrial 19.7%
- Commercial 13.3%
- Agricultural 0.7%
Largest Zones share of zoned land by district
Medium Density Residence
Industry
Low Density Residence
Highway Auto Commerce
Mixed Residential And Commercial
Lanark, IL zones 696 acres across 8 districts. Commercial zoning covers 13.3% of zoned land, residential 64.7% and industrial 19.7%. The largest single district is Medium Density Residence at 46.5%. For commercial buyers the practical constraint is that only 33% of land carries a commercial or industrial designation.
Medium Density Residence (R2)
VISIONS ARTICLE 2 RULES AND DEFINITIONS ARTICLE 3 ZONING DISTRICTS AND MAP 10-3-1: DISTRICTS 10-3-2: MAP 10-3-3: BOUNDARIES 10-3-4: ANNEXED TERRITORY ARTICLE 4 A AGRICULTURAL ARTICLE 5 R1 LOW DENSITY RESIDENCE ARTICLE 6 R2 MEDIUM DENSITY RESIDENCE ARTICLE 7 C1 HIGHWAY/AUTO COMMERCE ARTICLE 8 C2 DOWNTOWN COMMERCE ARTICLE 8A C3 MIXED RESIDENTIAL AND COMMERCIAL…
Market overview
Demographics & Economy
Lanark, IL has 2,998 residents in 1,916 households. Density runs 36 people per square mile. Median household income here is $88,833 and median gross rent $703 a month.
2,998
Population
1,916
Households
1.6
Avg Household Size
50
Median Age
25%
College-Educated
96%
High-School Grad
84 sq mi
ZIP Area
36
Density / Sq Mi
$88,833
Median Household Income
$45,755
Median Earnings
$703
Median Rent
$147,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Shannon | — | — |
| Chadwick | — | — |
| Center Hill | — | — |
| Mount Carroll | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Lanark?
Lanark, IL zones 696 acres across 8 districts, of which 13.3% is commercial and 19.7% industrial. The largest single district is Medium Density Residence at 46.5% of zoned land. VISIONS ARTICLE 2 RULES AND DEFINITIONS ARTICLE 3 ZONING DISTRICTS AND MAP 10-3-1: DISTRICTS 10-3-2: MAP 10-3-3: BOUNDARIES 10-3-4: ANNEXED TERRITORY ARTICLE 4 A AGRICULTURAL ARTICLE 5 R1 LOW DENSITY RESIDENCE ARTICLE 6 R2 MEDIUM DENSITY RESIDENCE ARTICLE 7 C1 HIGHWAY/AUTO COMMERCE ARTICLE 8 C2 DOWNTOWN COMMERCE ARTICLE 8A C3 MIXED RESIDENTIAL AND COMMERCIAL… Residential zoning covers 64.7% and open space 0%.
Where does Realmo's Lanark market data come from?
Realmo compiles Lanark, IL figures from 78 active sale listings, 106 tracked off-market properties, the current Lanark zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 78 active for-sale and 0 active for-lease listings in Lanark, 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: 696 zoned acres across 8 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
