Commercial Real Estate Market in Pana, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
21 active listings and 364 off-market properties in Pana, IL.
Market Trends
Pana, IL spans 116.9 square miles in Christian County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Pana, 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 Pana, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Pana, 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 Pana, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Pana, IL has 6,841 residents in 3,338 households. Density runs 59 people per square mile. Median household income here is $51,769 and median gross rent $684 a month.
6,841
Population
3,338
Households
2
Avg Household Size
45
Median Age
18%
College-Educated
90%
High-School Grad
116.9 sq mi
ZIP Area
59
Density / Sq Mi
$51,769
Median Household Income
$29,878
Median Earnings
$684
Median Rent
$93,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Dunkel | — | — |
| Dollville | — | — |
| Millersville | — | — |
| Tower Hill | — | — |
Commercial property in Pana, IL asks $66/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Pana?
Commercial property in Pana, IL asks an average of $66 per square foot.
Where does Realmo's Pana market data come from?
Realmo compiles Pana, IL figures from 8 recent recorded sales, 21 active sale listings, 364 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 21 active for-sale and 0 active for-lease listings in Pana, 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
