Commercial Real Estate Market in Ottawa, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
79 active listings and 1,343 off-market properties in Ottawa, IL. Commercial property asks $209/SF to buy and $19.15/SF/Yr to lease.
Market Trends
Ottawa, IL spans 152.5 square miles in LaSalle County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Ottawa, 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 Ottawa, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Ottawa, 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 Ottawa, 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
- Industrial 49%
- Residential 37.5%
- Commercial 9.5%
- Open space 4%
Largest Zones share of zoned land by district
Office Research And Light Industrial
Single And Two Family Residential
Industrial
Special Business
Single Family Residential
Ottawa, IL zones 8,102 acres across 14 districts. Commercial zoning covers 9.5% of zoned land, residential 37.5%, open space 4% and industrial 49%. The largest single district is Office Research And Light Industrial at 27.6%. For commercial buyers the practical constraint is that only 58.5% of land carries a commercial or industrial designation.
Office Research And Light Industrial (D)
The D commercial and light industrial district is designed to provide for industrial uses having a minimum impact upon the surrounding environment in areas that are suitable for industrial development by reason of location and the availability of adequate utilities and roadways
Market overview
Demographics & Economy
Ottawa, IL has 23,997 residents in 10,853 households. Density runs 157 people per square mile. Median household income here is $77,562 and median gross rent $940 a month.
23,997
Population
10,853
Households
2.2
Avg Household Size
43
Median Age
22%
College-Educated
93%
High-School Grad
152.5 sq mi
ZIP Area
157
Density / Sq Mi
$77,562
Median Household Income
$43,042
Median Earnings
$940
Median Rent
$157,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Naplate | — | — |
| Stoneyville | — | — |
| Woodland Addition | — | — |
| Dayton | — | — |
Commercial property in Ottawa, IL asks $209/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Ottawa?
Commercial property in Ottawa, IL asks an average of $209 per square foot. The 7 most recent recorded sales traded at a median of $31/SF, so asking sits 572% above the achieved median.
How much does it cost to lease commercial space in Ottawa?
Asking lease rates in Ottawa, IL average $19.15 per square foot per year.
What zoning applies to commercial property in Ottawa?
Ottawa, IL zones 8,102 acres across 14 districts, of which 9.5% is commercial and 49% industrial. The largest single district is Office Research And Light Industrial at 27.6% of zoned land. The D commercial and light industrial district is designed to provide for industrial uses having a minimum impact upon the surrounding environment in areas that are suitable for industrial development by reason of location and the availability of adequate utilities and roadways Residential zoning covers 37.5% and open space 4%.
Where does Realmo's Ottawa market data come from?
Realmo compiles Ottawa, IL figures from 7 recent recorded sales, 68 active sale listings, 11 active lease listings, 1,343 tracked off-market properties, the current Ottawa zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 68 active for-sale and 11 active for-lease listings in Ottawa, 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: 8,102 zoned acres across 14 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
