Commercial Real Estate Market in Oakwood, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 74 off-market properties in Oakwood, IL.
Market Trends
Oakwood, IL spans 28.9 square miles in Vermilion County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Oakwood, 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 Oakwood, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Oakwood, 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 Oakwood, 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 50%
- Planned_development 29%
- Commercial 21%
Largest Zones share of zoned land by district
Residential
Agricultural
Commercial
Residential
Residential
Oakwood, IL zones 683 acres across 5 districts. Commercial zoning covers 21% of zoned land, residential 50%. The largest single district is Residential at 44.9%. For commercial buyers the practical constraint is that only 21% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Oakwood, IL has 2,756 residents in 1,257 households. Density runs 95 people per square mile. Median household income here is $54,972 and median gross rent $840 a month.
2,756
Population
1,257
Households
2.2
Avg Household Size
46
Median Age
13%
College-Educated
97%
High-School Grad
28.9 sq mi
ZIP Area
95
Density / Sq Mi
$54,972
Median Household Income
$45,288
Median Earnings
$840
Median Rent
$123,600
Median Home Value
Tools
Nearby Markets
Frequently Asked Questions
What zoning applies to commercial property in Oakwood?
Oakwood, IL zones 683 acres across 5 districts, of which 21% is commercial and 0% industrial. The largest single district is Residential at 44.9% of zoned land. Residential zoning covers 50% and open space 0%.
Where does Realmo's Oakwood market data come from?
Realmo compiles Oakwood, IL figures from 2 recent recorded sales, 1 active sale listings, 74 tracked off-market properties, the current Oakwood zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1 active for-sale and 0 active for-lease listings in Oakwood, 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: 683 zoned acres across 5 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
