Commercial Real Estate Market in Lena, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
57 active listings and 184 off-market properties in Lena, IL.
Market Trends
Lena, IL spans 81.8 square miles in Stephenson County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lena, 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 Lena, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lena, 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 Lena, 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 67.3%
- Industrial 26%
- Commercial 6.7%
Largest Zones share of zoned land by district
Residential
Industrial
Commercial
Apartments
Apartments
Lena, IL zones 1,724 acres across 6 districts. Commercial zoning covers 6.7% of zoned land, residential 67.3% and industrial 26%. The largest single district is Residential at 65.2%. For commercial buyers the practical constraint is that only 32.7% of land carries a commercial or industrial designation.
Residential (R)
A single or two family residential district is hereby established in order to promote public safety, convenience and welfare of residents
Market overview
Demographics & Economy
Lena, IL has 4,081 residents in 1,740 households. Density runs 50 people per square mile. Median household income here is $87,604 and median gross rent $655 a month.
4,081
Population
1,740
Households
2.3
Avg Household Size
46
Median Age
28%
College-Educated
93%
High-School Grad
81.8 sq mi
ZIP Area
50
Density / Sq Mi
$87,604
Median Household Income
$45,680
Median Earnings
$655
Median Rent
$170,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Waddams Grove | — | — |
| Eleroy | — | — |
| McConnell | — | — |
| Kent | — | — |
Commercial property in Lena, IL asks $206/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lena?
Commercial property in Lena, IL asks an average of $206 per square foot.
What zoning applies to commercial property in Lena?
Lena, IL zones 1,724 acres across 6 districts, of which 6.7% is commercial and 26% industrial. The largest single district is Residential at 65.2% of zoned land. A single or two family residential district is hereby established in order to promote public safety, convenience and welfare of residents Residential zoning covers 67.3% and open space 0%.
Where does Realmo's Lena market data come from?
Realmo compiles Lena, IL figures from 57 active sale listings, 184 tracked off-market properties, the current Lena zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 57 active for-sale and 0 active for-lease listings in Lena, 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: 1,724 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
