Commercial Real Estate Market in Lexington, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
6 active listings and 116 off-market properties in Lexington, IL.
Market Trends
Lexington, IL spans 82.2 square miles in McLean County, Illinois. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Lexington, 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 Lexington, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lexington, 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 Lexington, 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 47%
- Agricultural 25%
- Commercial 18.4%
- Industrial 9.7%
Largest Zones share of zoned land by district
General Residence District
Open Land District
Single Family Residence District
Highway Business District
Light Manufacturing District
Lexington, IL zones 944 acres across 6 districts. Commercial zoning covers 18.4% of zoned land, residential 47% and industrial 9.7%. The largest single district is General Residence District at 28.3%. For commercial buyers the practical constraint is that only 28.1% of land carries a commercial or industrial designation.
Light Manufacturing District (M-1)
General Residence District. Article XI Business Districts § 300-48 Purpose. § 300-49 B-1 General Business District. § 300-50 B-2 Highway Business District. Article XII Manufacturing Districts § 300-51 Purpose. § 300-52 M-1 Light Manufacturing District. § 300-53 M-2 General Manufacturing District. Article XIII Administration § 300-54 Enforcement. § 300-55 Imp…
Market overview
Demographics & Economy
Lexington, IL has 2,950 residents in 1,308 households. Density runs 36 people per square mile. Median household income here is $108,438 and median gross rent $978 a month.
2,950
Population
1,308
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
97%
High-School Grad
82.2 sq mi
ZIP Area
36
Density / Sq Mi
$108,438
Median Household Income
$53,326
Median Earnings
$978
Median Rent
$190,200
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Lexington?
Commercial property in Lexington, IL asks an average of $159 per square foot.
What zoning applies to commercial property in Lexington?
Lexington, IL zones 944 acres across 6 districts, of which 18.4% is commercial and 9.7% industrial. The largest single district is General Residence District at 28.3% of zoned land. Residential zoning covers 47% and open space 0%.
Where does Realmo's Lexington market data come from?
Realmo compiles Lexington, IL figures from 5 recent recorded sales, 6 active sale listings, 116 tracked off-market properties, the current Lexington zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 6 active for-sale and 0 active for-lease listings in Lexington, 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: 944 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 30 September 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 30 September 2026 · How Realmo checks market page data · Report a data issue
