Commercial Real Estate Market in Olney, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
9 active listings and 618 off-market properties in Olney, IL.
Market Trends
Olney, IL spans 157.3 square miles in Richland County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Olney, 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 Olney, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Olney, 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 Olney, 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
- Agricultural 43.8%
- Residential 40.9%
- Industrial 10.9%
- Commercial 4.3%
Largest Zones share of zoned land by district
Agricultural District
Single Family Residence District
Single Family Residence District
Light Industrial District
Single Family Residence District
Agricultural District (A-1)
The purpose of this district is to preserve land for farming, agricultural production, and related rural activities.
Market overview
Demographics & Economy
Olney, IL has 11,978 residents in 5,881 households. Density runs 76 people per square mile. Median household income here is $60,133 and median gross rent $761 a month.
11,978
Population
5,881
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
92%
High-School Grad
157.3 sq mi
ZIP Area
76
Density / Sq Mi
$60,133
Median Household Income
$37,218
Median Earnings
$761
Median Rent
$111,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Orchard Heights | — | — |
| Calhoun | — | — |
| Berryville | — | — |
| Claremont | — | — |
Commercial property in Olney, IL asks $228/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Olney?
Commercial property in Olney, IL asks an average of $228 per square foot.
Where does Realmo's Olney market data come from?
Realmo compiles Olney, IL figures from 7 active sale listings, 2 active lease listings, 618 tracked off-market properties, the current Olney zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 2 active for-lease listings in Olney, 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: 18,133 zoned acres across 15 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
