Commercial Real Estate Market in Mount Carmel, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
14 active listings and 368 off-market properties in Mount Carmel, IL.
Market Trends
Mount Carmel, IL spans 147.3 square miles in Wabash County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Mount Carmel, 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 Mount Carmel, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Mount Carmel, 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 Mount Carmel, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Mount Carmel, IL has 9,607 residents in 4,608 households. Density runs 65 people per square mile. Median household income here is $52,073 and median gross rent $772 a month.
9,607
Population
4,608
Households
2.1
Avg Household Size
43
Median Age
19%
College-Educated
93%
High-School Grad
147.3 sq mi
ZIP Area
65
Density / Sq Mi
$52,073
Median Household Income
$38,882
Median Earnings
$772
Median Rent
$104,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Odgen | — | — |
| Patton | — | — |
| Maud | — | — |
| Keensburg | — | — |
Commercial property in Mount Carmel, IL asks $65/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Mount Carmel?
Commercial property in Mount Carmel, IL asks an average of $65 per square foot.
Methodology & data sources
- Asking prices and averages
- Computed from 14 active for-sale and 0 active for-lease listings in Mount Carmel, 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 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
